Autonomous vehicle technology is going to the next level. And some of the most successful investors from Silicon Valley and Wall Street are behind it.
What’s happening:
- Autonomous vehicle software developer Applied Intuition has raised $250M USD in a new Series E financing round
- The round was led by Lux Capital and Porsche Investments Management
The big idea:
- Applied Intuition leverages artificial intelligence and machine learning to help develop software for autonomous vehicles that can be used by auto manufacturers, defense technology companies, agriculture operators and more
- Applied Intuition’s software technology generates data by observing real world driving and creating re-simulations based off of actual events that enable their artificial intelligence models to predict and react to events in a safe manner
- Applied Intuition has built a robust development platform for companies to be able to incubate and launch their own autonomous vehicle software that is purpose built to be installed in vehicles they manufacture
By the numbers:
- Applied Intuition currently has partnerships with 18 different auto manufacturers for their software, including General Motors, Toyota and others
- The Army and Defense Innovation Unit in the United States previously partnered with Applied Intuition in a $49M USD deal to prototype software to be used for the Army’s Robotic Combat Vehicle
Going deeper:
- Applied Intuition has some of the largest venture capital funds in Silicon Valley and many Wall Street titans as investors, including a16z, Ray Dalio, Henry Kravis and others
The intrigue:
- Former Formula 1 race car driver Nico Rosberg is also an investor in Applied Intuition
