Applied Intuition Inc: A Leap into the Future of Autonomous Technology
Applied Intuition Inc., a burgeoning startup specializing in technology for autonomous vehicles and drones, has recently made headlines with its impressive US$600 million funding round. This substantial investment not only elevates the company’s valuation to an astounding US$15 billion but also reflects the growing confidence in the potential of artificial intelligence in the transportation sector.
A Diverse and Influential Investor Pool
The financing, announced on June 17, is co-led by funds managed by the investment giant BlackRock, alongside the venture capital firm Kleiner Perkins. Additional contributors to this remarkable funding round include prominent names like Franklin Templeton, Qatar Investment Authority, Lux Capital, BOND, and General Catalyst. The rapid jump in valuation from US$6 billion last year underlines the investors’ optimism about Applied Intuition’s future.
Strategic Partnerships and Technological Integration
Applied Intuition isn’t just a passive player in the autonomous vehicle sector; it actively collaborates with 18 of the world’s largest automotive companies. Notable partners include industry titans like Volkswagen AG and Toyota Motor Corp. The technology developed by Applied Intuition aims to enhance safety features in vehicles, making driving significantly safer for everyone. This alignment with major automotive players showcases the startup’s influential role in shaping the future of mobility.
From Start-Up to Industry Leader
Founded in 2017, Applied Intuition was ahead of the curve in the artificial intelligence arena. Co-founder and CEO Qasar Younis even remarks on the significance of the company’s initials — “It’s not random that letters A and I are the company’s initials.” This emphasis on AI underscores the foundational mission of the company: to integrate sophisticated AI technologies into everyday transportation systems.
Broader Expansion Plans
With the new influx of capital, Applied Intuition aspires to broaden its horizons. According to Younis, the company aims to work on “every moving machine”, which includes not just cars and trucks, but also drones and even factory machinery. This expansive vision doesn’t merely highlight their growth ambitions; it also positions Applied Intuition at the forefront of various high-tech industries.
Defense Technology and National Security Applications
Interestingly, the application of Applied Intuition’s technology extends into defense and national security. The company has secured millions in contracts with the Defense Department and is focused on optimizing drone operations. Earlier this year, they also acquired EpiSys Science Inc., a startup centered on national security. This diversification showcases the versatility of their technology and aligns with broader government interests in advancing defense capabilities.
Financial Health and IPO Aspirations
The current financing round includes a secondary offering that will help propel Applied Intuition into new categories. The company is not just looking to expand organically; it remains open to further acquisitions, enhancing its competitive edge.
Kleiner Perkins partner Mamoon Hamid highlights the substantial market potential within the transportation sector, emphasizing that safety in this industry is paramount. “You can’t screw up cars,” he stated, underlining the critical importance of reliable safety technology. Hamid’s confidence in Applied Intuition’s unique market position suggests that replicating their success will be challenging for competitors, given the complexity of the industry.
Looking ahead, Hamid is optimistic about the company’s potential for an initial public offering (IPO). With hundreds of millions in revenue already, Applied Intuition possesses a “financial profile that can allow them to be public,” indicating solid groundwork for a future stock market debut.
Younis echoed this sentiment during an interview, sharing that an IPO is indeed a near-term goal, dependent on market conditions. He hinted, “This is probably the last round we’ll raise before we go public,” marking a potential turning point in the startup’s trajectory.
As Applied Intuition Inc. gears up for its next chapter, the combination of robust funding, strategic partnerships, and a clear vision positions it as a formidable player in the ever-evolving landscape of autonomous technology.
