Applied Intuition, Inc., a supplier of vehicle software for automotive, trucking, construction, mining, agriculture and other industries, has raised a Series E financing round totaling US$250m. The financing was led by Lux Capital’s Bilal Zuberi and Elad Gil, who were significant investors in previous rounds, along with strategic investor Porsche Investments Management.
Further investors include Andreessen Horowitz, General Catalyst, Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, John Quinn and Nico Rosberg.
The company plans to use the funds to invest in generative AI technology, leveraging recent advancements in large language models (LLMs) to transform the vehicle software development process for its clients. The company also aims to recruit software and AI engineers to help develop ADAS and AD solutions.
Applied Intuition says intelligent algorithms are essential for powering ADAS and AD systems, enabling vehicles to process data from advanced sensors like cameras and lidars to interpret road conditions, detect obstacles and predict the behavior of other vehicles and pedestrians.
“Applied Intuition benefits from generational megatrends including generative AI, autonomous systems and software-defined vehicles,” said Bilal Zuberi, general partner at Lux Capital.
Qasar Younis, CEO and co-founder of Applied Intuition, 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.
“Our industry-leading vehicle software products will infuse AI technology to expand beyond our definitive ADAS and AD toolchain, which will exponentially accelerate the production of next-generation vehicles.”