Applied Intuition, a Mountain View, CA-based vehicle software supplier for automotive, trucking, construction, mining, agriculture, and other industries, raised $250M in Series E funding, at $6 Billion valuation.
The round was led by Bilal Zuberi at Lux Capital (Series C lead investor), Elad Gil (Series D lead investor), and strategic investor Porsche Investments Management S.A., with participation from Andreessen Horowitz (Series A lead investor), General Catalyst (Series B lead investor), Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn, and Nico Rosberg.
The company intends to use the funds to make investments in generative AI.
Led by CEO Qasar Younis, Applied Intuition is a Tier 1 vehicle software supplier that accelerates the adoption of safe and intelligent machines worldwide. Founded in 2017, the company provides an ADAS and AD toolchain to deliver high-quality systems and shorten time to market. 18 of the top 20 global automakers use its solutions to drive the production of modern vehicles.
Applied Intuition serves the automotive, trucking, construction, mining, agriculture, and defense industries. The company has offices in Ann Arbor and Detroit, MI, Washington, DC, Munich, Germany, Stockholm, Sweden, Seoul, South Korea, and Tokyo, Japan.
Commenting on the news, Qasar Younis said: “Within the last few years, we’ve seen massive advances in artificial intelligence that will have groundbreaking impacts on the industries that Applied Intuition serves. Our role as a leader in the ecosystem is to bring the best of what Silicon Valley has to offer to our global customer base.”
FinSMEs
12/03/2024