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Applied Intuition Inc., which provides simulation software for developers of autonomous vehicles, said that it has raised $125 million in Series C financing. The Sunnyvale, Calif.-based company said it plans to use the funding to develop its platform, expand its global presence, and focus on new vertical markets.
Simulation and associated infrastructure are critical to the advancement of autonomous vehicles and robots, said Applied Intuition. It added that its toolset can validate and verify the safety, comfort, and functionalities of self-driving cars and trucks.
Applied Intuition was founded in 2017 with the intention of making it faster, safer, and easier to bring autonomy to the market. The company claimed that it has the largest in-house team of any supplier of simulation, analytics, and infrastructure tools in the autonomous vehicle space. This allows it to execute quickly from product development to integration support and help customers move faster and focus on their core, high-value work, it said. The company has offices in Detroit, Los Angeles, Munich, Tokyo, and Seoul.
Applied Intuition investment
Lux Capital, Andreessen Horowitz, and General Catalyst led Applied Intuition’s latest round. The startup also announced that Bilal Zuberi, a partner at Lux Capital, is joining its board of directors, which already includes investors Marc Andreessen and Hemant Taneja.
Applied Intuition raised $40 million in Series B funding last year. Its Series C round was fully funded by existing investors, bringing the total capital raised to $176.5 million.
“Applied’s software is used for all levels of autonomy, and not just in cars but for all kinds of autonomous systems in motion,” stated Zuberi. “A great deal of promise also lies in the fact that the software isn’t limited to just R&D, but is also used for production. I am proud of the work [Applied Intuition] is doing to make mobility safe and efficient.”
Applied Intuition said the additional capital will enable it to move deeper into verticals such as automotive, freight/trucking, delivery robots, defense, mining, agriculture, construction, autonomous mobile robots, and aviation.