Summary:
Applied Intuition secures $600M in Series F funding, reaching a $15B valuation
Led by BlackRock and Kleiner Perkins, with participation from Franklin Templeton and Qatar Investment Authority
Self-driving technology is now a reality, with Waymo and Tesla leading the charge
Synthetic data and simulation are key to overcoming the centuries-long challenge of proving safety in real-world tests
Valuation more than doubles since last year, highlighting strong investor confidence in autonomous tech
Applied Intuition's Leap into the Future
Applied Intuition, a Silicon Valley-based startup specializing in embedded intelligence platforms for autonomous vehicles, has recently secured a whopping $600 million in Series F funding, catapulting its valuation to an impressive $15 billion. This round was led by BlackRock and Kleiner Perkins, with significant contributions from other investors.
Why This Matters
The self-driving revolution is no longer a distant dream but a present reality. With Waymo's fleet already navigating city streets and Tesla's robotaxi launch on the horizon, the demand for advanced autonomous vehicle technology is skyrocketing.
The Challenge of Safety in Autonomy
Proving the safety of self-driving cars through real-world testing alone could take centuries, as highlighted by Rand researchers. This is where Applied Intuition's software comes into play, offering synthetic data and simulation to train deep neural networks for unpredictable scenarios, such as a woman in a wheelchair chasing a duck.
Investment Insights
- The funding round includes $200 million in primary capital and $400 million in secondary.
- New investors like Franklin Templeton, Qatar Investment Authority, and Abu Dhabi Investment Council have joined the fray.
- Returning backers include Fidelity, General Catalyst, and Lux Capital.
This valuation marks a more than doubling of Applied Intuition's worth since its last funding round, underscoring the growing confidence in autonomous vehicle technology.
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