Porsche AG is expanding its expertise in software engineering with a significant investment in Applied Intuition, a leading provider of vehicle software.
The sports car manufacturer is participating in a $250 million Series E funding round at a valuation of $6 billion. With this engagement Porsche is intensifying its commitment to innovation in the vehicle software sector and reaffirming the success of this strategy. Porsche Investments Management S.A., a subsidiary of Porsche AG, joins the funding round as a strategic investor, thereby emphasizing the brand’s dedication to continually enhancing software expertise and customer experience.
Applied Intuition has maintained sustainable triple-digit percentage growth year-over-year, profitably. It has expanded beyond its Silicon Valley headquarters to Ann Arbor Detroit, MI, Washington, D.C., Munich, Stockholm, Seoul, and Tokyo and has customers worldwide, including 18 of the top 20 automotive OEMs.
Applied Intuition will use the financing to make significant investments in generative AI to unlock substantial value for customers and partners. With recent advancements in large language models (LLMs), Applied Intuition is uniquely positioned to help its customers revolutionize the vehicle software development process. The company will continue to recruit the world’s best software and AI engineers to further expand its offerings that enable its customers to have the world’s most advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.
