Applied Intuition, an autonomous vehicle software developer, has closed its latest funding round with $250 million to bring its AI-enabled tech to vehicles across the automotive, construction, defense and agricultural sectors.<\/p>\n\n\n\n
The series E round was led by Lux Capital\u2019s Bilal Zuberi, Porsche Investments Management, and independent investor Elad Gil. Additional funds came from several independent investors including DeepMind\u2019s founder Mustafa Suleyman and Formula 1 world champion Nico Rosberg. <\/p>\n\n\n\n
The funding brings Applied Intuition\u2019s value to $6 billion.<\/p>\n\n\n\n
The company\u2019s software leverages AI and large language models to \u201ctransform\u201d vehicles\u2019 performance and operation, mining vehicle data to inform product developments and operational improvements. <\/p>\n\n\n\n
This data is also used to develop the \u201cworld\u2019s most advanced\u201d driver-assistance systems (ADAS) and automated driving (AD) solutions, Applied Intuition said.<\/p>\n\n\n\n
The company plans to use its latest investment to further develop its AI models to \u201cadvance the automotive and autonomy industries.\u201d<\/p>\n\n\n\n
\u201cWithin the last few years, we\u2019ve seen massive advances in AI that will have groundbreaking impacts on the industries that Applied Intuition serves,\u201d said Qasar Younis, Applied Intuition\u2019s CEO. \u201cOur industry-leading vehicle software products will infuse AI technology to expand beyond our definitive ADAS and AD toolchain, which will exponentially accelerate the production of next-generation vehicles.\u201d<\/p>\n\n\n\n
Founded in Silicon Valley in 2017, the company has expanded to serve businesses in Washington, D.C., Germany, Korea, and Japan, providing AI software to power smart vehicles across industries. <\/p>\n\n\n\n
Applied Intuition\u2019s current customers include the U.S. Army and Air Force and has been chosen to provide software development for products including robotic combat vehicles and sensor arrays.<\/p>\n\n\n\n
\u201cApplied Intuition benefits from generational megatrends including generative AI, autonomous systems, and software-defined vehicles,\u201d said Bilal Zuberi, Lux Capital\u2019s general partner. \u201cIt is no wonder the company has built a scalable business and become an indispensable partner to top automotive OEMs and the U.S. military. <\/p>\n\n\n\n
\u201cApplied Intuition is at the forefront of the AI revolution to transform the global transportation industry, and we are excited by its growth and distinctive position in the market.\u201d<\/p>\n\n\n\n
Alongside news of the funding round, Porsche was also announced as Applied Intuition\u2019s first OEM investor.<\/p>\n\n\n\n
\u201cMore than ever, consumers expect exclusive and seamless software integration in their cars,\u201d said Lutz Meschke, CFO at Porsche AG. \u201cWith this strategic investment and partnership, we want to further strengthen Porsche\u2019s expertise in the field of software and customer experience.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Applied Intuition, an autonomous vehicle software developer, has closed its latest funding round with $250 million to bring its AI-enabled tech to vehicles across the automotive, construction, defense and agricultural sectors. The series E round was led by Lux Capital\u2019s Bilal Zuberi, Porsche Investments Management, and independent investor Elad Gil. Additional funds came from several […]<\/p>\n","protected":false},"author":1,"featured_media":6306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"amp_status":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[15,241],"tags":[127,84,367],"jetpack_publicize_connections":[],"yoast_head":"\n