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Applied Intuition Surges to $15 Billion Valuation After $600 Million Investment Boost

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Applied Intuition, a leading autonomous vehicle software firm, has secured $600 million in a new funding round and tender offer, doubling its valuation to $15 billion, underscoring a renewed investor confidence in the self-driving vehicle sector.

The round was co-led by BlackRock-managed funds and Kleiner Perkins, with additional support from Franklin Templeton and the Qatar Investment Authority. The funding marks a significant jump from the startup’s previous valuation of $6 billion in March 2023, which included backing from Porsche—its first investment from an automaker.

Founded in 2017 and based in Mountain View, California, Applied Intuition develops software platforms for autonomous systems used in vehicles, defense, and logistics. The company counts major automotive brands like Toyota and Volkswagen among its customers.

CEO Qasar Younis stated the funds would fuel expanded investments in intelligent mobility technology, aiming to integrate autonomous capabilities into a wide range of vehicles and machinery.

Applied Intuition’s rise comes amid a broader resurgence of investor interest in autonomous driving, bolstered by expectations of regulatory easing under the Trump administration, including potential exemptions from certain safety standards.

Last week, the company also announced a new partnership with OpenAI, aimed at embedding generative AI into driving experiences to create more personalized vehicle behavior.

Volvo and Daimler Launch Software Joint Venture ‘Coretura’ to Cut Costs and Supplier Reliance

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European truck giants AB Volvo and Daimler Truck have announced the launch of a joint venture named Coretura, aimed at developing a software-defined vehicle platform to lower costs and reduce their heavy reliance on external suppliers.

The move comes as the truck industry—like the broader automotive sector—races to deliver more technology-integrated vehicles while facing mounting pressure to improve cost-efficiency and production timelines.

Currently, truck manufacturers are dependent on suppliers because vehicle software is tightly integrated with hardware. Coretura’s goal is to break that link and offer an industry-wide standard platform that truckmakers can build upon more independently.

“We’re very much dependent on suppliers, which drives both cost and sometimes delays,” said Daimler Trucks CEO Karin Radstrom. “We’re now exploring the next generation of software we need for vehicles.”

The joint venture will be based in Gothenburg, Sweden, and will initially employ 50 staff. The first deliveries of the connectivity platform are targeted for 2027, with broader implementation expected by the end of the decade.

Coretura will be led by Johan Lunden, a veteran from Volvo, who emphasized that software will be critical to achieving future goals for sustainability, safety, and productivity in commercial transportation.

Despite being long-time rivals, Volvo and Daimler have previously partnered on initiatives such as hydrogen fuel cell technology and vehicle charging infrastructure.

Google and Volvo Deepen Android Partnership, Bringing Faster AI Features to Cars

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Volvo Cars and Google have announced a significant expansion of their long-standing partnership, with the Swedish automaker now becoming the lead development partner for Android Automotive OS, marking a major leap in bringing advanced digital features and AI to vehicles faster than industry competitors.

Volvo’s head of global software engineering, Alwin Bakkenes, told Reuters that this collaboration will give Volvo customers early access to new Android versions, often years ahead of other carmakers. “This really gives us an edge in building fantastic customer experiences,” he said.

While most automakers lag by two Android versions compared to mobile devices, Volvo is now bridging that gap. The company currently runs Android 13 in its vehicles, but at Google’s annual I/O developer conference this week, the companies showcased Volvo’s flagship EX90 electric SUV operating on Android 15, the latest version of Google’s mobile OS. This version will start rolling out in production vehicles later this year.

The enhanced partnership also gives Google engineers access to real-world driving data by testing software in Volvo cars, accelerating development cycles and improving in-car digital experiences.

One of the biggest highlights from the I/O event was the integration of Google’s Gemini AI model into Volvo cars. The system enables drivers to interact with their vehicle more naturally and intuitively. For example, Gemini can search a user’s emails or messages for a destination, or create a shopping list based on a recipe, all via voice command — transforming the driving experience into a “human-centric” digital journey, according to Bakkenes.

The push to integrate advanced AI and the latest Android OS into cars is part of a broader strategy by Volvo to position itself as a software-driven mobility company, moving beyond traditional car manufacturing.