ASI Raises $325 Million at $3 Billion Valuation to Expand AI

Boston-based ASI raised $325 million in a Series C round at a $3 billion valuation and plans to expand its AI deployments in energy, logistics and tactical settings.

Spark Capital led the financing, announced Oct. 20. Affiliates of Citadel Securities, Meritech Capital, Craft Ventures, Energy Impact Partners and Andreessen Horowitz also participated. ASI was previously known as Air Space Intelligence.

The company plans to use the funding to widen deployments and add to its research and engineering teams in Boston. Its software simulates physical operations over periods ranging from hours to weeks, with applications involving air traffic, electrical grids and military operations.

ASI founder and CEO Phillip Buckendorf described the company’s focus as helping operators “manage and control physical assets.” The planned expansion would take that software into more energy, logistics and tactical settings.

ASI has been selected for two Federal Aviation Administration (FAA) programs. Flow Management Data and Services (FMDS) is designed to support the agency’s Air Traffic Control System Command Center and help balance air traffic demand with available capacity. Strategic Management of Airspace, Routes, and Trajectories (SMART) is intended to coordinate flight schedules and trajectories before aircraft depart.

The Army awarded Air Space Intelligence Federal, Inc., an indefinite-delivery, indefinite-quantity contract with a maximum value of $99 million. Its five-year ordering period began Sept. 29. The initial task order covers fires deconfliction at the Corps level. The $99 million figure is the ceiling for the contract, not the value of that first order.

“We see energy as a major growth opportunity for the company,” said Sameer Reddy, managing partner, Flagship at Energy Impact Partners. ASI plans to expand deployments in that sector alongside logistics and tactical operations while growing its Boston teams.