Boston-based ASI has raised $325 million in a Series C round that values the company at $3 billion, the company announced Tuesday. The money will take ASI further into energy, logistics and military field operations, and it will grow the company’s research and engineering teams in Boston.
The company’s software models air traffic, power grids and military operations hours, days and weeks ahead. The goal is to give operators time to act before problems spread. ASI used to go by the name Air Space Intelligence, Bloomberg reported.
Spark Capital led the round. Affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz also took part. Gradient, which led ASI’s pre-seed round, congratulated the team on X.
“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,” said Phillip Buckendorf, ASI’s founder and chief executive.
A $875 million air traffic contract
In June, the Federal Aviation Administration gave ASI an $875 million contract to manage U.S. air traffic with AI. ASI beat Palantir and Thales, which had also competed for the deal, Bloomberg reported. The contract runs for 12 years, according to Reuters.
The system combines weather, flight paths and controller staffing to predict congestion and suggest ways to cut delays. The FAA started using it in September, at first only around Washington. It plans to expand the system across the country.
ASI says it is one of only four technology companies founded since 2000 to win a federal program of record of that size. Buckendorf told Bloomberg Television that the government is taking a different path than it used to. “Instead of relying on research work that might take five to 10 years, the government is acquiring proven capability,” he said.
Military and airline customers
The U.S. Army gave ASI a five-year, $99 million contract in October for its next generation command and control program. The company says it supported more than 4,000 U.S. Air Force operators during Operation Epic Fury.
Delta Air Lines, Alaska Airlines and United Airlines use ASI’s systems. The utility National Grid uses them to plan and run its electricity network. ASI has also worked with Joby on managing electric air taxi skies.
ASI is part of a wave of U.S. defense and aerospace startups drawing investors, Bloomberg reported. This month, Anduril opened an employee share sale at a $90 billion valuation.
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