Inspired Capital raises $450 million for fourth fund
The New York-based venture firm's assets under management will reach nearly $1.4 billion, co-founder Alexa von Tobel said.
ASI reaches $3 billion valuation with $325 million financing
Spark Capital led the Series C investment, which ASI said would fund more deployments and expand its Boston research and engineering teams.
Artificial intelligence startup ASI announced on October 20 that a Series C funding round had brought in $325 million, valuing the Boston-based business at $3 billion. The financing was led by Spark Capital.
Participants also included Craft Ventures, Meritech Capital and affiliates of Citadel Securities. ASI said it would put the funding toward expanding deployments across logistics, energy and military environments, while enlarging its engineering and research teams in Boston.
ASI develops tools for monitoring and simulation, helping operators anticipate disruptions in complex systems over periods ranging from hours to weeks. Its software serves applications including electricity grids, military operations and air traffic.
Founder and CEO Phillip Buckendorf described the company's focus as AI for managing and controlling physical assets, in contrast to systems designed to generate text.
In October, ASI secured a $99 million, five-year contract with the US Army for military command systems. A separate Federal Aviation Administration contract secured in June covers air traffic management and is worth $875 million over 12 years.