SiMa.ai raises $150 million at $1.45 billion valuation

SiMa.ai announced a $150 million Series C financing round at a $1.45 billion valuation, bringing total funding for the physical artificial intelligence chip and software company to $500 million. The company said it will use the capital to expand its Palette Neat software environment and develop next-generation hardware targeted for the first half of 2028. Fidelity Management Research Company and Amplify co-led the round. Alter Venture Partners, Dell Technologies Capital, Maverick Capital, ND Capital, Point72 and StepStone Group also participated, while AllianceBernstein, Baron Capital, J.P. Morgan and the State of Michigan joined as new investors, according to the company’s announcement. SiMa.ai, founded in 2018 by Krishna Rangasayee, develops processors and software for running AI on devices such as robots, drones and vehicles rather than relying on continuous cloud processing. The company’s planned hardware is intended to deliver up to 1,000 TOPS of compute and will include machine-learning intellectual property, chiplets and systems-on-chip. TOPS measures computing operations per second. The funding will also support the expansion of Palette Neat, which SiMa.