Applied Intuition Secures $600M Funding for Defense Expansion

Applied Intuition Secures $600 Million Funding, Valuation Reaches $15 Billion

Applied Intuition, a prominent developer of software for autonomous vehicles, has successfully finalized a $600 million Series F funding round combined with a tender offer.

Investment Details

This substantial investment elevates the company’s valuation to $15 billion. The funding round was jointly spearheaded by investment vehicles managed by BlackRock and Kleiner Perkins.

Significant new contributions were also made by the Qatar Investment Authority, Abu Dhabi Investment Council, and Greycroft, among others.

Existing investors, including General Catalyst, Lux, Elad Gil, and Bond (Mary Meeker’s growth fund), continued their support through participation in this round.

Rapid Growth and Company Focus

This latest funding arrives only twelve months following the completion of a $250 million Series E round, which previously valued the company at $6 billion.

Applied Intuition specializes in the creation of software solutions designed to facilitate the development of autonomous vehicle technology for both commercial entities and governmental organizations.

Their offerings encompass advanced simulation software and comprehensive data management tools.

Strategic Positioning in the Market

According to CEO Qasar Younis, the company aims to be the primary resource for organizations facing software or artificial intelligence challenges in the autonomous vehicle sector. He stated last year that they strive to be “that first call.”

Applied Intuition collaborates with a vast majority of leading automotive manufacturers, as well as dedicated autonomous vehicle companies like Kodiak.

Expansion into the Defense Sector

The company is also experiencing increasing involvement within the defense industry.

Applied Intuition recently responded to a request from the U.S. Army to integrate autonomous technology into its vehicle fleet.

Notably, they successfully transformed an infantry squad vehicle from a basic configuration to a fully autonomous system within a mere ten days.

This rapid development involved the creation of a robotic system capable of physically controlling the vehicle’s steering, throttle, and brakes.

Updates and Corrections

Note: This report has been updated to accurately reflect that the funding included both a $600 million Series F round and a concurrent tender offer.

Update: Gatik, an autonomous vehicle company, has confirmed that it is no longer collaborating with Applied Intuition. This information has been incorporated into the article.