Autonomous vehicle software specialist Applied Intuition has closed a $600 million Series F and tender offer round, more than doubling its valuation to $15 billion. The round was co-led by funds managed by BlackRock and Kleiner Perkins, with new participation from the Qatar Investment Authority, Abu Dhabi Investment Council, Greycroft, and others. Existing backers such as General Catalyst, Lux Capital, Elad Gil, and Bond also contributed.
The raise follows a $250 million Series E just one year ago, which valued the company at $6 billion. Applied Intuition provides simulation software and data tools to assist companies and government agencies in developing autonomous vehicle systems. Its customer base includes major automakers and AV companies like Gatik and Kodiak. “When they think like, ‘I have this software or AI problem,’ we generally want them to think about us,” CEO Qasar Younis told TechCrunch in an earlier interview.
In addition to its commercial footprint, Applied Intuition is accelerating its push into defense. The company said it was recently tapped by the U.S. Army to support autonomous capabilities on infantry squad vehicles, transforming one from “bare bones” to autonomous within just 10 days. The rapid retrofit included a “pedal-pushing robot” to control the vehicle’s physical functions.