ASI, formerly Air Space Intelligence, raised a $325 million Series C that values the company at $3 billion, SiliconANGLE's Mike Wheatley reported on October 20. Spark Capital led, with participation from Citadel Securities, Craft Ventures, Meritech Capital, Energy Impact Partners and Andreessen Horowitz.
What ASI builds
ASI develops frontier AI models that simulate physical reality and future scenarios, which customers use to plan and orchestrate critical infrastructure in real time. It serves the aviation, defense and energy sectors. Founder and CEO Phillip Buckendorf said: “ASI is deeply focused on AI systems that can manage and control physical assets,” and described the goal as “the automated nervous system keeping the country running.”
The contracts behind the valuation
In June, ASI signed an $875 million, 12-year agreement with the FAA to manage future US air traffic with its platform. The article says it beat Palantir and Thales, citing Bloomberg. The system was implemented at Dulles International Airport last month, with plans to expand to all major US airports. The company also has a five-year, $99 million deal with the US Army to supply AI command-and-control software. Other users include United Airlines, Delta Air Lines, the US Air Force and National Grid USA Service Company, which uses the software for planning.
Use of funds
ASI plans to expand into aviation, defense and energy and to target logistics, and to grow its research and engineering teams. The article does not disclose revenue or growth figures, so the valuation rests on the contracts described above and not on reported financials.
Source: SiliconANGLE. This is an AI Business Watch summary of the original report.