U.S.-based vehicle software supplier Applied Intuition announced on Tuesday that it has successfully raised $250 million in its latest Series E funding round, achieving a valuation of $6 billion.
The financing was led by Bilal Zuberi, general partner at Lux Capital, angel investor Elad Gil, and Porsche Investments Management, the independent subsidiary of the renowned sports car manufacturer.
Applied Intuition intends to utilize the funds to make strategic investments in generative artificial intelligence (AI), aiming to enhance Porsche’s expertise in software and customer experience, as stated by Lutz Meschke, Porsche AG’s chief financial officer.
Among its prominent clients are Toyota Motor, Nissan, and LG Electronics, who leverage its services for the development of various software systems, according to the company’s website.
