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Applied Intuition raises $600 million as it pushes further into defense
- Applied Intuition, an autonomous vehicle software company, has raised $600 million in a Series F funding round, increasing its valuation to $15 billion.
- The funding round was co-led by BlackRock-managed funds and Kleiner Perkins, with new investments from the Qatar Investment Authority, Abu Dhabi Investment Council, Greycroft, and others. Existing investors like General Catalyst, Lux, and Mary Meeker's fund Bond also participated.
- This funding round follows a $250 million Series E round completed just a year ago, placing the company at a $6 billion valuation. Applied Intuition develops software for autonomous vehicle solutions, including simulation software and data management.
- CEO Qasar Younis aims for Applied Intuition to be the primary choice when companies and government agencies face software or AI challenges.
- The company collaborates with major automakers and autonomous vehicle firms like Gatik and Kodiak.
- Applied Intuition has expanded its presence in the defense sector. The U.S. Army sought its assistance in implementing autonomous technology in some vehicles.
- Applied Intuition transformed an infantry squad vehicle into an autonomous vehicle within 10 days, developing a robot to control the vehicle's steering, throttle, and brakes.
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