Self-driving startup Applied Intuition nets $15 billion valuation

Zoom in: It can take tens or even hundreds of years to log enough real-world miles to prove that self-driving cars are safe, Rand researchers found.

• So autonomous vehicle developers need to rely on synthetic data and simulation to train their deep neural networks to handle the unexpected.
• Applied Intuition's software helps them prepare for those so-called edge cases, like a woman in a wheelchair chasing a duck

Deal details: A source tells Axios that the round includes $200 million of primary capital and $400 million of secondary.

• Other new investors include Franklin Templeton, Qatar Investment Authority, Abu Dhabi Investment Council, Premji Invest, Stripes, Greycroft, BAM Elevate, and 137 Ventures.
• Return backers were Fidelity, General Catalyst, Lux Capital, Bond, Elad Gil, Addition, and Tribe Capital.

The bottom line: The new valuation more than doubles what Applied Intuition was worth early last year, when it raised a $250 million round led by Porsche Ventures, Lux and Elad Gil.