Autonomous vehicle software startup Applied Intuition has raised $600m in a Series F funding round that values the company at $15bn.

Founded in 2017, the company develops AI-powered software that automakers and other companies use to develop autonomous vehicle solutions. 

The round was co-led by BlackRock and Kleiner Perkins, with participation from new investors such as Franklin Templeton and Qatar Investment Authority, alongside existing investors including Fidelity and General Catalyst.

The company intends to use the funds to support its next phase of vehicle intelligence development, product expansion, and global team growth.

Qasar Younis, co-founder and CEO of Applied Intuition, said: “Applied Intuition is entering its next era. We’re scaling up our investments in bringing intelligence into every moving machine.

“Everything from cars and trucks to drones and factories will be powered by AI, and our mission is to connect AI with the physical world it will transform.”

This latest funding comes just over a year after the company’s $250m Series E round in March 2024.

Since then, Applied Intuition has achieved significant milestones, including strategic partnerships with OpenAI, TRATON, Isuzu, Porsche, and Audi.

The company also launched its off-road autonomy stack, acquired defence technology firm EpiSci, and introduced new defence products, Axion and Acuity.

Additionally, Applied Intuition expanded its global presence with a new office in the UK.

BlackRock managing director Samir Menon said: “Our platform has been actively investing in the autonomous driving sector for years, and Applied Intuition has emerged as a key innovation leader. We are proud to back Applied Intuition as they continue their mission to make all vehicles intelligent.”

Applied Intuition co-founder and CTO Peter Ludwig said: “The focus of this next phase is to accelerate the rollout of intelligent, software-defined systems across all domains — defence, automotive, trucking, construction, mining, and agriculture. With the continued backing of our investors, we’re just getting started.”