Applied EV reaches $190m valuation, secures investment from Suzuki, Club Investible
ByĀ
Investible
April 5, 2023
The investment, announced this month, marks the second time that vehicle giant Suzuki and Club Investible have bet on the ambitious company, and a follow-on from Investible's backing in early 2020.
Accompanying Suzukiās investment is a strategic partnership to develop an autonomous electric vehicle platform. The Japanese multinational joins a growing list of collaborators that have worked alongside Applied EV to revolutionise the adoption of electric vehicles.
In the co-development project, Applied EVās autonomous vehicle platform, Blanc Robotā¢, will be integrated to the ladder frame of Suzukiās 4WD Jimny, electrified by Applied EV and controlled by their central control system, DigitalBackboneā¢.
The two companies plan to bring the Blanc Robotā¢ to production and develop business models to expand the adoption of autonomous electric vehicles, building the profile of this next-generation technology and cementing both firms as leaders in the space.
A partner for the journey
Investibleās relationship with Applied EV began in the lead-up to our Early Stage Fund 1 participating in the tech company's 2020 Seed round.
Members of the Club Investible syndicate also contributed investment in subsequent rounds, as the startup forged strategic partnerships with the likes of Suzuki and Oxbotica, boosting their valuation significantly in 3 years. Club Investible members collectively tipped in $1m to this most recent round.
Commenting on the companyās continued success, Investibleās Head of Relations Tim Coates said āJulian and Shaneās team have continued to push the boundaries of autonomous vehicles and the interest weāve seen from our investor network is palpable.ā
āIf this latest deal is any indication of how large vehicle manufacturers are charting the future, Applied EV have put themselves in the driver seat of the passenger-less car movement and our investors know it,ā he added.
About Applied EV
Founded in 2015 by Julian Broadbent and Shane Ambry, Applied EV is a technology company with strengths in softwareand electronics. The firm develops safety-rated, autonomous-ready, digital control systems and modular vehicle platforms for commercial applications.
Applied EV is creating the future of transport with driverless, efficient transport solutions with Automotive Safety Integrity Level (ASIL) architected applications for the automotive and industrial sectors.Ā
Today, theyāre leaders in the field of autonomous vehicles, transport and software development. Their flagship product, the Blanc Robotā¢, is the smartphone of autonomous vehicles, an āapplication-readyā vehicle system that functions across multiple markets, creating endless possibilities.
Investible remains excited for the future of electrified autonomous vehicles and are proud to be a part of Applied EV's journey to success.
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Written byĀ
Investible
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