ASI, formerly Air Space Intelligence, raises $325M Series C at $3B valuation
In brief
- ASI announced a $325 million Series C at a $3 billion valuation on October 20.
- Spark Capital led the round, per Bloomberg; Andreessen Horowitz also participated.
- New capital will expand ASI deployments across energy, logistics and tactical military settings.
- Crypto Briefing reported an $875 million FAA program and a $99 million Army contract.
Who backed the round
Spark Capital led the Series C, according to Bloomberg, as relayed by Crypto Briefing. Affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz also took part.
At least one of those backers is focused on energy. Sameer Reddy, a managing partner at Energy Impact Partners, said the firm saw energy as a major growth opportunity for ASI. The company said it'll put the new money toward expanding deployments across energy, logistics and tactical military settings, and toward growing its research and engineering teams.
What ASI actually sells
It's simulation, and it doesn't stop running. ASI's systems model air traffic, electrical grids and military operations anywhere from hours to weeks ahead, and the goal is to help operators anticipate disruptions.
Founder and CEO Phillip Buckendorf described the company as an “automated nervous system” for US infrastructure.
Its commercial customers include Delta Air Lines, Alaska Airlines and United Airlines (the utility National Grid also uses ASI for grid planning and operations).
The federal contracts
Then there's the government work. The US Department of Transportation and the Federal Aviation Administration awarded ASI an $875 million program of record to modernize the National Airspace System, Crypto Briefing reported. According to the same report, the US Army recently awarded the company a $99 million contract tied to its Next Generation Command and Control program.
ASI is deployed with the Army, the Air Force and US Pacific Command.
The company said its platform supported more than 4,000 Air Force operators during Operation Epic Fury.
Frequently asked questions
What does ASI do?
ASI, formerly known as Air Space Intelligence, builds AI systems that run continuous forward simulations of air traffic, electrical grids and military operations. Those systems model scenarios hours to weeks ahead to help operators anticipate disruptions.
How will ASI use the $325 million it raised?
ASI said it plans to use the funds to expand deployments across energy, logistics and tactical military settings. The money will also go toward growing its research and engineering teams.
