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Applied Intuition, based in Silicon Valley, has announced the closure of a secondary investment round totaling over $300 million. This round welcomed Fidelity Management & Research Company as a new investor, with participation from existing investors including General Catalyst, BOND, Lux Capital, and Elad Gil. As part of this secondary sale, equity was purchased from current employees, former employees, and early investors.
Key Highlights:
- New Investor: Fidelity Management & Research joins existing investors.
- Employee Equity: Equity purchased from current and former employees and early investors.
- Growth and Expansion: Series E funding is fueling team growth and expanding AI-powered products.
- Innovative Solutions: Launches include an off-road autonomy stack and a generative AI tool.
- Partnerships: New collaborations with Porsche AG and Audi.
“It’s fantastic to have the support of top-tier, long-term institutional investors,” said Qasar Younis, co-founder and CEO of Applied Intuition. “This secondary round is a testament to our growth, and it marks our third tender offer with some of our biggest shareholders — our employees. Recruiting world-class talent and rewarding them for their hard work is a hallmark of Silicon Valley’s success.”
Following the $250 million Series E funding announced in March, Applied Intuition is focused on expanding its team and enhancing its AI-powered product portfolio to meet customer demands. The company’s growth is driven by the integration of AI, autonomous driving, and electrification.
“Applied Intuition is going full speed ahead and benefiting from the extraordinary confluence of AI, autonomous driving, and electrification,” said Peter Ludwig, co-founder and CTO of Applied Intuition. “Every customer we meet wants to build future-proof products and looks to us as a mission-critical partner.”
In 2024, Applied Intuition has introduced several innovative solutions, including an off-road autonomy stack for navigating complex terrains, a generative AI tool for faster simulation scenario creation, hardware-in-the-loop testing software, and an automated parking development solution. Partnerships with Porsche AG and Audi further solidify the company’s reputation and trust within the automotive industry.
About Applied Intuition:
Applied Intuition is a Tier 1 vehicle software supplier accelerating the adoption of safe and intelligent machines globally. Founded in 2017, the company provides a comprehensive ADAS/AD toolchain, a high-quality vehicle platform, and an autonomy stack to help clients reduce time to market and develop next-generation consumer experiences. Eighteen of the top 20 global automakers utilize Applied Intuition’s solutions. Headquartered in Mountain View, California, the company has offices in Ann Arbor and Detroit, Michigan; Washington, D.C.; Munich; Stockholm; Seoul; and Tokyo. Learn more at appliedintuition.com.
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