ASI, formerly Air Space Intelligence, raises $325 million at a $3 billion valuation
Spark Capital led the Series C. The company's AI plans and runs air traffic, military command-and-control and grid operations, and it holds an $875 million FAA program and a $99 million Army contract.
ASI, the company formerly called Air Space Intelligence, announced on October 20 a "$325 million" Series C at a "$3 billion" valuation. Spark Capital led the round, with affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz taking part.
What it sells
ASI builds AI that simulates physical systems so operators can plan and run them in real time. Its announcement cites an "$875 million program of record" from the FAA and Department of Transportation to modernize the National Airspace System, and a "$99 million" Army contract covering command-and-control work, including the Next Generation Command and Control program. SiliconANGLE reports that United Airlines, Delta Air Lines and National Grid also use its software, and that the money will fund expansion into energy and logistics. Founder and chief executive Phillip Buckendorf said ASI "is deeply focused on AI systems that can manage and control physical assets."
Why it matters
Most AI spending goes to tools that produce text and code, which a person reviews. ASI is paid to make decisions about aircraft and power grids, where a wrong answer costs more than a rewrite. Here the proof of value is a multi-year government contract, not a seat count, and that is a useful bar to hold any AI vendor to when it asks for a bigger commitment.