Abu Dhabi & Qatar join Applied Intuition's funding round
Qatar's sovereign fund joins $600 million vehicle Intelligence funding round
#Qatar #investment - Gulf sovereign wealth funds Abu Dhabi Investment Council (ADIC) and Qatar Investment Authority (QIA) have made their first investments in California-based vehicle intelligence company Applied Intuition, participating in the startup's $600 million Series F funding round at a $15 billion valuation. The Mountain View-headquartered autonomous vehicle technology company closed the round just over a year since its Series E announcement, with co-leads including asset management giant BlackRock and venture capital firm Kleiner Perkins. Applied Intuition develops AI-driven toolchains, Vehicle OS and autonomy stacks for automotive, defense, trucking, construction, mining and agriculture industries, serving 18 of the top 20 global automakers and the Department of Defense.
SO WHAT? - The debut investments of Abu Dhabi Investment Council (ADIC) and Qatar Investment Authority (QIA) in Applied Intuition signal the increasing activity among Gulf investors into the rapidly expanding smart mobility market. The investment reflects the region interest in AI-powered transportation technologies, against the backdrop of Qatar and UAE driverless vehicle strategies. Abu Dhabi has already created its own Smart Autonomous Vehicle Industry (SAVI) cluster to encourage R&D, manufacturing, testing and driverless services.
Some key details about this announcement:
Abu Dhabi Investment Council (ADIC) and Qatar Investment Authority (QIA) have made their first investments in vehicle intelligence startup Applied Intuition, participating in the startup's $600 million Series F funding round at a $15 billion valuation.
The funding round was co-led by BlackRock and Kleiner Perkins, alongside other new investors including Franklin Templeton and Premji Invest.
Applied Intuition closed the Series F just over a year after its Series E in March 2024, demonstrating sustained hypergrowth in the vehicle intelligence market
The Mountain View-based company serves 18 of the top 20 global automakers and major Department of Defense programmes, and companies across automotive, defense, trucking, construction, mining and agriculture sectors.
Recent company developments include strategic partnerships with OpenAI, TRATON, Isuzu, Porsche and Audi, plus the acquisition of defense technology company EpiSci and launch of defense products Axion and Acuity,
Applied Intuition has expanded globally with offices across Washington D.C., San Diego, Ann Arbor, London, Stuttgart, Munich, Stockholm, Seoul and Tokyo, including recent UK expansion.
The company was founded in 2017 by CEO Qasar Younis and CTO Peter Ludwig, focusing on AI-driven toolchains and autonomy stacks to accelerate intelligent vehicle adoption
ZOOM OUT - Qatar has pursued AV initiatives since 2016, including partnerships with Volkswagen for 2022 FIFA World Cup shuttles and testing agreements with companies like Navya and Chinese manufacturer Yutong. However, previous autonomous vehicle deployments have faced implementation challenges, with limited testing taking place to date. Meanwhile, Abu Dhabi began an autonomous taxi services trial in 2021 and today has a robotaxi services running in several different city districts, with plans for both more coverage and a multi-vendor market that supports a number of different driverless service platforms.
[Written and edited with the assistance of AI]