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At Porsche, the focus is on the cohesion and teamwork of our employees. Because if you want others’​ hearts to beat faster, you have to carry your own in the right place. Developing the technology of tomorrow. Always surpassing yourself. Working at Porsche offers many challenges. What might it be like? On our website www.porsche.com/careers you can get insights into the Porsche working environment and experience first-hand what makes working at Porsche so fascinating.

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Celestial AI Closes $175 Million Series C Funding Round Led by U.S. Innovative Technology Fund

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Celestial AI, US Innovative Technology Fund, AMD, Samsung, Porsche

Celestial AI™, creator of the Photonic Fabric™ optical interconnect technology platform, today announced it raised $175 million in its Series C funding round led by Thomas Tull’s U.S. Innovative Technology Fund (USIT). In addition to USIT, the round included participation from new and existing investors including AMD Ventures, Koch Disruptive Technologies (KDT), Temasek, Temasek’s wholly owned subsidiary Xora Innovation, IAG Capital Partners, Samsung Catalyst, Smart Global Holdings (SGH), Porsche Automobil Holding SE, Engine Ventures, M-Ventures and Tyche Partners.

Amid the explosive growth in demand for generative AI applications and next-generation data centers, hyperscalers are increasingly constrained by utility power availability, memory capacity and high cost of operation. Celestial AI’s Photonic Fabric optical interconnect technology addresses these critical challenges by revolutionizing memory and compute fabrics. This transformational solution provides the foundational technology for users to continue making advancements in AI while maintaining scalable, sustainable and profitable business models. This latest round of funding will enable Celestial AI to execute multiple large-scale customer collaborations focused on commercializing its breakthrough Photonic Fabric technology platform.

Read more at Business Wire

Applied Intuition Grows to $6 Billion Valuation, Securing $250 Million in Series E Funding to Advance Vehicle Software and AI Capabilities

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Applied Intuition, Lux Capital, Porsche

Applied Intuition, Inc., a vehicle software supplier for automotive, trucking, construction, mining, agriculture, and other industries, has raised a $250 million Series E financing round at a $6 billion valuation. The round was led by Bilal Zuberi at Lux Capital (Series C lead investor), Elad Gil (Series D lead investor), and strategic investor Porsche Investments Management S.A. representing the well-known successful sports car manufacturer from Stuttgart-Zuffenhausen. Applied Intuition also announced the following new and existing investors: Andreessen Horowitz (Series A lead investor), General Catalyst (Series B lead investor), Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn, and Nico Rosberg.

Applied Intuition has maintained sustainable triple-digit percentage growth year-over-year, profitably. It has expanded beyond its Silicon Valley headquarters to Detroit, Washington, D.C., Germany, Korea, and Japan and has customers worldwide, including 18 of the top 20 automotive OEMs.

The company 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.

Read more at PR Newswire

AM Batteries Closes $30M Series B led by Toyota Ventures to Accelerate the Commercialization of its Dry Battery Electrode Technology

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: AM Batteries, Toyota, Porsche, Asahi Kasei

AM Batteries, a pioneer in the field of lithium-ion dry-electrode technologies, today announced it closed a $30M Series B in an oversubscribed funding round led by Toyota Ventures. New investment combines strategic corporate support from Porsche Ventures and Asahi Kasei, with financial investment from RA Capital Management - Planetary Health, Wilson Sonsini, and Industry Ventures. The round also includes existing investors such as Anzu Partners, TDK Ventures, Creative Ventures, Doral Energy-Tech Ventures, Foothill Ventures, and Zeon Ventures.

As more sustainability-focused gigafactories dot the world in places like Asia, Europe, and the United States, efficiencies in battery manufacturing are paramount. With strong commercial traction from tier-one battery producers, AMB’s funding from a robust set of strategic and financial investors will help the company develop and drive the commercialization of dry powder coating technology and equipment for low-cost lithium-ion battery manufacturing.

Read more at PR Newswire

🔋 The Race for Solid-State Batteries

📅 Date:

🔖 Topics: Additive Manufacturing

🏭 Vertical: Automotive

🏢 Organizations: Porsche, Sakuu

Solid-state batteries could reshuffle the deck on the market for electric vehicles. Longer ranges, faster charging times, greater safety—solid-state batteries offer numerous advantages for electric cars. Many other applications are also conceivable, such as in aerial taxis, commercial vehicles, and buses, as well as stationary energy storage for renewables. The road to market readiness, however, is by no means clear. Six key tasks need to be solved for a breakthrough in the automotive industry alone: improving product properties, converting existing gigafactories to solid-state production, integrating the batteries into vehicle systems, establishing robust supply chains for new materials, reducing costs by enlarging cell formats, and funding the start-up stage.

While Asian manufacturers like CATL and LG dominate lithium-ion technology, most of the leaders in solid-state battery technology are start-ups in the USA. The established Asian players are not leaving the field without a fight, however. For example, leading cell manufacturers in Korea are forming close partnerships with their suppliers to drive the technology forward. The big carmakers appear to have learned their lesson from lithium-ion batteries. In order to prevent further dependence on Asian suppliers, they have been investing heavily in tech start-ups.

Read more at Porsche Newsroom

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