Applied Intuition secured a $15 billion valuation in a funding round where it raised $600 million, the automotive software supplier said on Tuesday, signaling a strong investment appetite for commercialized autonomous vehicle technology.
The funding was co-led by BlackRock-managed funds and accounts alongside venture capital firm Kleiner Perkins. New investors included Franklin Templeton and Qatar Investment Authority, the company said.
The funds will help Applied Intuition double down on investments in autonomous technology at a time when companies across the auto sector attempt to ramp up their push for self-driving cars.
“We’re scaling up our investments in bringing intelligence into every moving machine,” said Qasar Younis, co-founder and CEO of Applied Intuition.
The Mountain View, California-based company, whose customers include Toyota and Volkswagen, also partnered with ChatGPT-maker OpenAI last week, aiming to leverage AI to personalize driving experience.
