Home Driverless Cars Applied Intuition Secures $250 Million in Series E Funding to Enhance AI and Autonomous System Development

Applied Intuition Secures $250 Million in Series E Funding to Enhance AI and Autonomous System Development

by IAV Staff
Lutz Meschke, CFO at Porsche AG and Qasar Younis, Co-Founder and CEO of Applied Intuition. Image: Applied Intuition.

Applied Intuition, specializing in advancing the adoption of autonomous and intelligent systems, has announced a $250 million Series E funding round. This round is led by Lux Capital, Elad Gil, and strategic investor Porsche Investments Management S.A., highlighting significant industry and strategic confidence in Applied Intuition’s mission and technology. The company, valued at $6 billion, plans to utilize the funds to further its product development in generative AI within the automotive sector and expand its team.

Since its inception in 2017, Applied Intuition has showcased substantial growth, extending its reach globally and diversifying its clientele across various sectors, including the U.S. military. The firm’s emphasis on generative AI technologies aims to revolutionize automotive and autonomy industries by enhancing system performance and accelerating development processes.

With this latest funding, Applied Intuition intends to reinforce its product offerings, particularly in the areas of synthetic data generation and data mining. The company’s expansion into generative AI models seeks to set new industry standards in vehicle software development, promising to expedite the rollout of advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.

The inclusion of Porsche as an OEM investor marks a strategic partnership aimed at advancing software integration in vehicles, underscoring Applied Intuition’s pivotal role in shaping the future of transportation. This collaboration assures the independence of Applied Intuition as a software supplier, ensuring confidentiality and integrity in its dealings across the automotive industry.

Applied Intuition’s commitment to innovation and its strategic approach to funding and partnerships position it as a key player in the ongoing AI revolution, with the potential to significantly impact the global transportation landscape.

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