Air Space Intelligence (ASI) said Oct. 20 it raised $325 million at a $3 billion valuation, giving the Boston company capital to expand software deployments after two U.S. government awards.
Spark Capital led the Series C financing. ASI named affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz as investors. The company plans to expand its Boston research and engineering teams alongside its software deployments.
ASI says its software uses simulations to help operators anticipate changes in physical systems. It plans to use the new funding to increase deployments in energy, logistics and tactical edge environments, building on its work in air traffic and military operations.
The Federal Aviation Administration (FAA) selected ASI in June to develop air traffic management software. ASI says the contract is worth $875 million over 12 years. The systems are intended to help plan traffic flows and identify potential conflicts before flights depart.
The FAA has said scattered data and planning that responds to problems after they arise contribute to air traffic bottlenecks. It says the software is intended to assess flight schedules, weather, airport capacity and airspace conditions. The agency expects travelers and controllers to benefit from the changes.
The Army separately awarded a five-year contract to Air Space Intelligence Federal, Inc., the recipient named in the federal award notice. Its $99 million value is a ceiling for orders during the contract period, rather than a guaranteed payment. That ordering period began Sept. 29.
ASI said the first Army order involves work on corps-level fires deconfliction. The company says the order forms part of its command-and-control software work.
The FAA plans to begin initial operations with the new air traffic software in fall 2026.
