Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>The €100M funding round positions NestAI among the largest defense AI funding rounds in Europe.</li><li>Nokia's secure 4G/5G/6G communications provide the low-latency uplinks connecting edge systems to the central command platform.</li><li>The business model benefits from long defense procurement cycles and multi-year contracts typical in the sector, providing revenue visibility once initial deployments prove successful.</li></ul>

The €100M funding round positions NestAI among the largest defense AI funding rounds in Europe.Nokia's secure 4G/5G/6G communications provide the low-latency uplinks connecting edge systems to the central command platform.The business model benefits from long defense procurement cycles and multi-year contracts typical in the sector, providing revenue visibility once initial deployments prove successful.

Applied Intuition / Private Capital Markets

<ul><li>Sacra estimates Applied Intuition hit $830M in annual recurring revenue (ARR) in 2025, up 2x from $415M in 2024.</li><li>Applied Intuition was valued at $15 billion following its $600 million Series F round and tender offer co-led by BlackRock-managed funds and Kleiner Perkins in June 2025.</li><li>The company monetizes through annual software licenses priced based on the number of engineering seats, scale of simulation workloads, and specific modules deployed.</li></ul>

Sacra estimates Applied Intuition hit $830M in annual recurring revenue (ARR) in 2025, up 2x from $415M in 2024.Applied Intuition was valued at $15 billion following its $600 million Series F round and tender offer co-led by BlackRock-managed funds and Kleiner Perkins in June 2025.The company monetizes through annual software licenses priced based on the number of engineering seats, scale of simulation workloads, and specific modules deployed.

<ul><li>Vay closed a $60 million strategic investment from Grab Holdings in November 2025, with the potential for an additional $350 million in earn-out payments tied to consumer revenue growth milestones.</li><li>Vay launched teledriving-as-a-service in September 2024, selling its technology stack to OEMs, trucking companies, delivery operators, and car-share firms.</li><li>The Las Vegas service has attracted both tourists and price-sensitive local commuters, with over 17,000 completed trips.</li></ul>

Vay closed a $60 million strategic investment from Grab Holdings in November 2025, with the potential for an additional $350 million in earn-out payments tied to consumer revenue growth milestones.Vay launched teledriving-as-a-service in September 2024, selling its technology stack to OEMs, trucking companies, delivery operators, and car-share firms.The Las Vegas service has attracted both tourists and price-sensitive local commuters, with over 17,000 completed trips.

<ul><li>Applied Intuition's vendor-agnostic simulation platform is positioned as the horizontal Android of autonomous driving vs. Tesla’s walled garden.</li><li>Expanding into defense after winning a $249M purchase agreement with DoD to support autonomous and acquiring defense AI company EpiSci, Sacra estimates Applied Intuition hit $415M ARR in 2024, up 100% YoY from $207M in 2023.</li><li>With few pure-play simulation competitors and Tesla’s vertically integrated Mac-style walled garden as its lone peer at scale, Applied Intuition is positioning itself as the horizontal “Android” for autonomous driving, a vendor-agnostic software layer OEMs can license instead of spending billions to build their own.</li></ul>

Applied Intuition's vendor-agnostic simulation platform is positioned as the horizontal Android of autonomous driving vs. Tesla’s walled garden.Expanding into defense after winning a $249M purchase agreement with DoD to support autonomous and acquiring defense AI company EpiSci, Sacra estimates Applied Intuition hit $415M ARR in 2024, up 100% YoY from $207M in 2023.With few pure-play simulation competitors and Tesla’s vertically integrated Mac-style walled garden as its lone peer at scale, Applied Intuition is positioning itself as the horizontal “Android” for autonomous driving, a vendor-agnostic software layer OEMs can license instead of spending billions to build their own.

Finland

AI software for autonomous vehicles and command systems in defense and security operations

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NestAI (NESTAI FI)

Primer: NestAI - 24 Nov 2025

AI software for autonomous vehicles and command systems in defense and security operations

Sacra

Primer: Applied Intuition - 14 Jul 2026

Software suite for simulating, testing, and deploying autonomous vehicle systems across industries

Sacra

Primer: Vay - 12 Nov 2025

Remote driving service delivering electric rental cars via teledrivers to urban users

Sacra

Applied Intuition At $415M/year

TL;DR: With the $800B autonomous vehicle market expanding beyond passenger cars into trucks, defense, construction, mining, and aerial/maritime...

Sacra

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