SUNNYVALE, Calif. — Applied Intuition Inc., which provides software tools and infrastructure for autonomous vehicle development worldwide, today announced it has raised $40 million in Series B financing. The company said it plans to use the funding to accelerate its growth and continue its international expansion.
Applied Intuition’s products support different aspects of autonomous vehicle (AV) development, including end-to-end simulation and analytics for driving logs collected from the vehicle. Engineers can use Applied Intuition’s custom-built simulation platform to test individual modules, as well as the full system. It is optimized for scale to process large data volumes and run simulations in parallel to validate software quality, said the company.
Industry-leading companies of all sizes worldwide use Applied’s platform for comprehensive testing and analysis while developing complex autonomous systems, said the company. Applied Intuition is based Silicon Valley and has offices in Detroit, Tokyo, and Munich.
General Catalyst led the Series B, with participation from Kleiner Perkins, Microsoft’s M12, Sozo Ventures, and La Famiglia. Previous investors Andreessen Horowitz, Lux Capital, and Floodgate also participated in this round.
Working with Microsoft
The company’s modular tools can be easily combined to create a fully integrated, end-to-end development environment. With the Applied Development Platform, companies developing autonomous vehicles can easily share information, simulations, drive logs, and analytics across their organization.
“At Applied, we are excited to provide the industry with a simulation and infrastructure solution that is highly scalable,” stated Qasar Younis, CEO of Applied Intuition. “By leveraging Microsoft Azure, we are able to scale our solution efficiently for the AV and automotive ecosystems as end-to-end provider.”
Applied Intuition is showing its Applied Development Platform at the International Automobile Exhibition in Frankfurt, Germany, from today through Sept. 22, 2019.
Applied Intuition grows globally
Since its launch two years ago, Applied Intuition has seen rapid customer expansion. It boasted that its team combines the best of Silicon Valley engineering talent with domain experts in robotics, software, and automotive technologies. The startup serves customers worldwide in a diverse range of use cases with robo-taxis, self-driving trucks, mining, delivery robots, and regulators.
“What they’re building aims to move the entire industry forward in part by significantly increasing the velocity of software development,” said Hemant Taneja, managing director at General Catalyst. “That intersection of focus and skill set makes us believe this team has the potential to become an enduring leader in the autonomy space.”
In September 2018, Applied Intuition announced $11.5 million in Series A funding led by Marc Andreessen from Andreessen Horowitz, bringing its total funding to $51.5 million. The market for simulation software will experience a compound annual growth rate of 8.9% to reach $10.03 billion by 2023, predicted Allied Market Research.
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Filed Under: Automotive, The Robot Report