ASI has raised $325 million in a Series C round that values the Boston AI company at $3 billion. The round was led by Spark Capital, the company announced on Tuesday.
AI that models the physical world
ASI, formerly known as Air Space Intelligence, builds world models and reasoning systems that simulate physical operations hours, days and weeks ahead. Its software helps operators of air traffic control, electric grids and military systems spot failures early and act before they spread.
The company was founded by Phillip Buckendorf and serves customers across aviation, energy, logistics and defense. Its systems are deployed with the Department of Transportation, United Airlines, Delta Air Lines, the U.S. Army, the U.S. Air Force and National Grid.
The contracts behind the raise
In June, the Federal Aviation Administration awarded ASI an $875 million, 12-year program of record to modernize the National Airspace System. The company says it is one of only four technology firms founded since 2000 to win a federal program of record of this size.
Earlier this month, the U.S. Army awarded ASI a $99 million contract to scale its technology across the Army’s modernized command and control efforts, including the Next Generation Command and Control program. The company is also the fastest growing software platform across the U.S. Air Force, supporting more than 4,000 operators during Operation Epic Fury.
Where the $325 million goes
The Series C capital will accelerate deployment across energy, logistics and tactical edge environments. The company also plans to expand its frontier AI research and engineering teams at its Boston headquarters.
Alongside Spark Capital, the round drew major participation from affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz.
“While the broader tech ecosystem spent hundreds of billions teaching AI to manipulate words and generate text, ASI is deeply focused on AI systems that can manage and control physical assets.”
Phillip Buckendorf, founder and CEO of ASI
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ASI Communications
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