Latest news with #AppliedIntuition
Yahoo
3 days ago
- Automotive
- Yahoo
Applied Intuition raises $600m at $15bn valuation
Autonomous vehicle software startup Applied Intuition has raised $600m in a Series F funding round that values the company at $15bn. Founded in 2017, the company develops AI-powered software that automakers and other companies use to develop autonomous vehicle solutions. The round was co-led by BlackRock and Kleiner Perkins, with participation from new investors such as Franklin Templeton and Qatar Investment Authority, alongside existing investors including Fidelity and General Catalyst. The company intends to use the funds to support its next phase of vehicle intelligence development, product expansion, and global team growth. Qasar Younis, co-founder and CEO of Applied Intuition, said: 'Applied Intuition is entering its next era. We're scaling up our investments in bringing intelligence into every moving machine. 'Everything from cars and trucks to drones and factories will be powered by AI, and our mission is to connect AI with the physical world it will transform." This latest funding comes just over a year after the company's $250m Series E round in March 2024. Since then, Applied Intuition has achieved significant milestones, including strategic partnerships with OpenAI, TRATON, Isuzu, Porsche, and Audi. The company also launched its off-road autonomy stack, acquired defence technology firm EpiSci, and introduced new defence products, Axion and Acuity. Additionally, Applied Intuition expanded its global presence with a new office in the UK. BlackRock managing director Samir Menon said: 'Our platform has been actively investing in the autonomous driving sector for years, and Applied Intuition has emerged as a key innovation leader. We are proud to back Applied Intuition as they continue their mission to make all vehicles intelligent.' Applied Intuition co-founder and CTO Peter Ludwig said: 'The focus of this next phase is to accelerate the rollout of intelligent, software-defined systems across all domains — defence, automotive, trucking, construction, mining, and agriculture. With the continued backing of our investors, we're just getting started.' "Applied Intuition raises $600m at $15bn valuation" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
3 days ago
- Automotive
- Time of India
Applied Intuition raises $600 million in Series F funding round
Applied Intuition , a vehicle intelligence firm, has announced the closing of its Series F funding round of $600 million, valuing the company at $15 billion. The fresh round of funding was co-led by BlackRock-managed funds and accounts and Kleiner Perkins. Other new investors in the round include Franklin Templeton, Qatar Investment Authority, Abu Dhabi Investment Council, Premji Invest, Stripes, Greycroft, BAM Elevate, and 137 Ventures. Fidelity Management & Research Company, General Catalyst, Lux, BOND, Elad Gil , Addition, and Tribe Capital were amongst the existing investors who took part in the latest funding round. 'Applied Intuition is entering its next era,' said Qasar Younis, co-founder and CEO of Applied Intuition. 'We're scaling up our investments in bringing intelligence into every moving machine. Everything from cars and trucks to drones and factories will be powered by AI, and our mission is to connect AI with the physical world it will transform," he added. Applied Intuition closed this major up round just over a year after announcing its Series E in March 2024. The company has maintained strong momentum with AI innovations and product launches, including strategic partnerships with OpenAI, TRATON, Isuzu, Porsche and Audi, among others. Applied Intuition, a vehicle intelligence firm, has announced the closing of its Series F funding round of $600 million, valuing the company at $15 billion. The fresh round of funding was co-led by BlackRock-managed funds and accounts and Kleiner Perkins. Other new investors in the round include Franklin Templeton, Qatar Investment Authority, Abu Dhabi Investment Council, Premji Invest, Stripes, Greycroft, BAM Elevate, and 137 Ventures. Fidelity Management & Research Company, General Catalyst, Lux, BOND, Elad Gil, Addition, and Tribe Capital were amongst the existing investors who took part in the latest funding round. 'Applied Intuition is entering its next era,' said Qasar Younis, co-founder and CEO of Applied Intuition. 'We're scaling up our investments in bringing intelligence into every moving machine. Everything from cars and trucks to drones and factories will be powered by AI, and our mission is to connect AI with the physical world it will transform," he added. Applied Intuition closed this major up round just over a year after announcing its Series E in March 2024. The company has maintained strong momentum with AI innovations and product launches, including strategic partnerships with OpenAI, TRATON, Isuzu, Porsche and Audi, among others.
Bloomberg
4 days ago
- Business
- Bloomberg
Chip Tax Credits Get Boost in Trump Tax Bill
Bloomberg's Caroline Hyde and Ed Ludlow discuss how President Trump's tax bill could boost investment credit for semiconductors to 30%. Plus, the CEO of Applied Intuition talks about how the startup plans to use its latest $600 million fundraising to make more moving machines self-driving. And the CEO of Purism says the company has spoken to the Trump family about supplying its made-in-the-USA smartphones to the new Trump mobile phone service. (Source: Bloomberg)
Bloomberg
4 days ago
- Automotive
- Bloomberg
Applied Intuition's $15B Valuation for AI Vehicle Tech
Applied Intuition CEO Qasar Younis discusses how the company is developing models to make all moving machines self-driving. Younis speaks with Caroline Hyde and Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
Yahoo
4 days ago
- Automotive
- Yahoo
Applied Intuition raises $600 million as it pushes further into defense
Buzzy autonomous vehicle software company Applied Intuition has closed a $600 million Series F funding round, pushing its valuation up to $15 billion. The round was co-led by BlackRock-managed funds and Kleiner Perkins, and included new investments from the Qatar Investment Authority, Abu Dhabi Investment Council, Greycroft, and more. Existing investors General Catalyst, Lux, Elad Gil, and Mary Meeker's growth fund Bond also participated. Applied Intuition's raise comes just one year after it completed a $250 million Series E, which put the company at a $6 billion valuation. The company makes software that helps companies and government agencies develop autonomous vehicle solutions. That includes simulation software and managing data. 'When they think like, 'I have this software or AI problem,' we generally want them to think about us,' CEO Qasar Younis told TechCrunch last year. 'Like we want to be that first call.' Applied Intuition works with most of the major automakers, as well as autonomous vehicle companies such as Gatik and Kodiak. The company has also increasingly pushed into the defense space. In its newsletter announcing the funding round, Applied Intuition shared that it was asked by the U.S. Army to help bring autonomous tech to some of their vehicles. The company was able to take an infantry squad vehicle from 'bare-bones' to autonomous in just 10 days. This included developing a 'pedal-pushing robot to physically turn the wheel and press the throttle and brake pads.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
