SiMa.ai Technologies Inc. has secured $150 million in a Series C funding round, bringing the company's valuation to $1.45 billion. The investment was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, StepStone Group, AllianceBernstein, Baron Capital, and J.P. Morgan.
The startup intends to use the capital to scale its Palette Neat development environment and develop its next-generation system-on-chip, Modalix. This hardware is designed for embedded robotics, with the company targeting a performance of 1,000 tera operations per second by the first half of 2028.
SiMa.ai focuses on physical AI, providing hardware and software for robots, drones, and autonomous vehicles. The company aims to compete with Nvidia by offering lower-power alternatives to CUDA-based hardware. Its technology is currently utilized by partners including Robert Bosch GmbH, Micron Technology Co., and Synopsys Inc.
The company plans to expand its presence in sectors such as humanoid robotics, automotive advanced driver assistance systems, and AI-powered cockpits. According to CEO Krishna Rangasayee, the funding will provide the necessary resources to scale its platform and establish a dominant market position.
