SiMa.ai secures $85m to support global expansion
US-based start-up SiMa.ai has raised $85m in an oversubscribed funding round led by hedge fund firm Maverick Capital. The investment increases the company’s total capital raised to $355m.
New investor StepStone Group, alongside existing supporters, also joined the round.
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The company, which focuses on delivering purpose-built hardware and software solutions for Physical AI, plans to use the new funds to support its global expansion.
It will also use the proceeds to further enhance its Physical AI platform. This includes investing in software innovation, go-to-market strategies, customer success initiatives, and strengthening its roadmap in the automotive sector.
SiMa.ai founder and CEO Krishna Rangasayee said: “This new funding further validates our leadership in the Physical AI space and the growing demand for Physical AI solutions that deliver best-in-class performance per watt with industry-leading ease of use.
“With strong support from new and existing investors, we’re scaling quickly to extend our competitive lead and meet global customer demand across robotics, automotive, industrial automation, aerospace & defence, smart vision, and healthcare.”
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By GlobalDataSiMa.ai’s core offering, the SiMa.ai ONE platform, combines purpose-built silicon with a software-centric design to optimise performance and simplify deployment.
The platform includes Modalix, a second-generation multimodal machine learning system-on-chip, and software suite Palette. These tools support major ML frameworks, facilitating rapid AI adoption across sectors.
Maverick Capital managing partner Andrew Homan said: “SiMa.ai is redefining what’s possible at the edge by combining world-class silicon with a uniquely software-centric approach to Physical AI.
“Their ability to deliver high-performance, low-power solutions with frictionless deployment positions them to lead in a market that’s scaling fast. We’re thrilled to support SiMa.ai as they accelerate their growth and continue to deliver transformative value across industries.”
In a previous funding round in April 2024, SiMa.ai secured $70m to advance chip technology for autonomous vehicles.
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