As Tesla, Waymo and others jockey for positioning in the race to make self-driving vehicles mainstream, a lesser-known Bay Area startup has reached “unicorn” status by offering the industry the software needed to run autonomous tests.
Applied Intuition has raised $125 million in a new Series C funding round co-led by previous investors Lux Capital, Andreessen Horowitz and General Catalyst, the company confirmed on Thursday. With the new funding, Applied Intuition’s valuation has reached $1.25 billion, according to two sources with knowledge of the deal.
Founded in 2017 by Qasar Younis and Peter Ludwig, Applied Intuition pitches itself as a bridge between Silicon Valley and traditional automakers. Younis, cofounder of a startup acquired by Google and later the chief operating officer of startup accelerator Y Combinator,