Applied Intuition, a Mountain View, CA-based autonomous vehicle software company, raised $250 million in a Series E funding round, valuing the company at $6 billion.
SaaS Investors
The round was led by Lux Capital’s Bilal Zuberi, investor Elad Gil, and Porsche Investments Management.
Other participants include Andreessen Horowitz, Mary Meeker’s growth fund Bond, and Formula 1 world champion Nico Rosberg.
Founded in 2000, Lux Capital is a venture capital firm based in New York, New York. The firm seeks to invest in early-stage and later-stage companies. The firm seeks to invest in biochemistry, material science, electronics, infrastructure, and aerospace sectors.
Elad Gil is an entrepreneur, operating executive, and investor or advisor to private companies.
Porsche Investments Management handles the venture capital investments by Porsche AG. The firm intends to actively identify and reach out to promising startups globally, integrating them into the Porsche ecosystem.
Applied Intuition Use of Funds
The funding will fuel the company's ambitious projects to enhance its software offerings for autonomous vehicle development. Applied Intuition aims to maintain its culture while pursuing growth and innovation in the automotive, defense, construction, and agriculture sectors.
About Applied Intuition
Founded in 2017, Applied Intuition develops software used by automakers and others to develop autonomous vehicle solutions. Its software offers a suite of products focusing on simulation and analytics delivering infrastructure built for scale. Applied Intuition offers simulations for testing perception and vehicle behavior systems, and data management solutions for AV development. Its mission is to accelerate the world’s adoption of safe and intelligent machines. The company is headquartered in Silicon Valley with offices in Ann Arbor and Detroit, MI; Washington, D.C.; Munich; Stockholm; Seoul; and Tokyo.
Funding Details
Company: Applied Intuition, Inc.
Raised: $250.0M
Round: Series E
Funding Month: March 2024
Lead Investors: Lux Capital’s Bilal Zuberi, Elad Gil, and Porsche Investments Management
Additional Investors: Andreessen Horowitz, Mary Meeker’s growth fund Bond, and Nico Rosberg
Company Website: https://www.appliedintuition.com/
Software Category: Autonomous Vehicle Software
Source: https://startupnews.fyi/2024/03/12/applied-intuition-lands-6-billion-valuation-for-ai-powered-autonomous-vehicle-software/