Vehicle software supplier, Applied Intuition, has recently raised $250 million in a Series E financing round, bringing its valuation to $6 billion. The round was led by Lux Capital, Elad Gil, and strategic investor Porsche Investments Management S.A. The company has seen significant growth year-over-year and has expanded its operations globally with customers in various industries, including automotive and defense. Applied Intuition aims to revolutionize the vehicle software development process through investments in generative AI, enabling its customers to create advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.
“We are excited by Applied Intuition’s growth and distinctive position in the market,” says Bilal Zuberi, General Partner at Lux Capital. He believes the company is at the forefront of the AI revolution in the global transportation industry. The financing will be used to further develop generative AI capabilities, recruit top software and AI engineers, and enhance the company’s offerings.
Lutz Meschke, CFO at Porsche AG, highlights the increasing expectations of consumers regarding software integration in cars. With the strategic investment in Applied Intuition, Porsche aims to strengthen its expertise in software and customer experience.
Applied Intuition’s CEO and Co-Founder, Qasar Younis, recognizes the significant advancements in artificial intelligence in recent years and their potential impact on industries served by the company. Applied Intuition’s goal is to bring the best of Silicon Valley to its global customer base. By infusing AI technology into its vehicle software products, the company aims to accelerate the production of next-generation vehicles.
Applied Intuition, founded in 2017, is a leading Tier 1 vehicle software supplier. Its end-to-end solutions ensure the delivery of high-quality systems and shorten time to market. Trusted by 18 of the top 20 global automakers, Applied Intuition serves multiple industries and is headquartered in Mountain View, California.
With this significant financing round, Applied Intuition is poised to continue driving innovation in the vehicle software industry and making substantial contributions to the advancement of AI in transportation.
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