Applied Intuition secures $250M Funding:
In the rapidly evolving autonomous car market, projected to hit $64.88 billion by 2026, key players like Tesla, Uber, Lyft, Waymo, and traditional automakers are intensifying efforts to lead in autonomous vehicle technology. Amidst this competitive landscape, Apple has stepped back from its self-driving electric car project, highlighting the challenges and shifts within the sector.
Addressing the critical challenge of developing effective AI software systems for manufacturers, US-based Applied Intuition aims to revolutionize the vehicle software development process with its AI-powered approach. This strategy not only targets autonomous driving software but seeks to innovate across the vehicle software development spectrum.
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Achieving a $6 Billion Valuation
Applied Intuition recently announced a $250 million Series E funding round, reaching a $6 billion valuation. The round was led by Bilal Zuberi of Lux Capital, Elad Gil, and strategic investor Porsche Investments Management, alongside participation from both new and existing investors including Andreessen Horowitz, General Catalyst, and Mary Meeker at BOND.
The company plans to leverage this investment to advance generative AI technologies, promising to deliver significant value to customers and partners. With the rise of large language models (LLMs), Applied Intuition is positioned to help customers revolutionize vehicle software development, continuing to attract top software and AI engineering talent to expand its advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.
Pioneering Next-Generation Vehicle Development
Founded in 2017 by Qasar Younis and Peter Ludwig, Applied Intuition provides a platform for autonomous vehicle companies to simulate, test, and validate their systems in a virtual environment. This approach allows for extensive testing of autonomous systems under various conditions before real-world road tests, offering a comprehensive suite focused on simulation and analytics.
With headquarters in Silicon Valley and additional offices in Detroit, Washington, D.C., Germany, Korea, and Japan, Applied Intuition serves a global clientele, including leading automotive OEMs like Porsche. The company’s software infrastructure supports the testing of self-driving technologies, becoming an indispensable partner to the automotive industry and the U.S. military.
Leading the AI Revolution in Transportation
Bilal Zuberi of Lux Capital praised Applied Intuition for its role in generational megatrends such as generative AI, autonomous systems, and software-defined vehicles. Porsche AG’s CFO, Lutz Meschke, emphasized the strategic investment and partnership with Applied Intuition as a means to enhance Porsche’s software and customer experience expertise.
CEO and Co-Founder Qasar Younis highlighted the significant advances in artificial intelligence and its potential impact on the industries Applied Intuition serves. By integrating AI technology into its vehicle software products, Applied Intuition aims to accelerate the production of next-generation vehicles, fulfilling consumer expectations for seamless software integration in their cars.
