SiMa.ai has raised $150 million in Series C funding, valuing the physical artificial intelligence company at $1.45 billion as it looks to expand its AI hardware and software platform for robotics, autonomous vehicles and drones.
The oversubscribed round was co-led by Fidelity Management & Research Company and Amplify. Existing and participating investors included Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72 and StepStone Group. AllianceBernstein, Baron Capital, J.P. Morgan and the State of Michigan joined as new investors.
The latest financing takes SiMa.ai's total capital raised to $500 million. The company plans to use the fresh capital to scale Palette Neat, its agentic software environment for physical AI, while accelerating the development of its next generation of AI hardware.
SiMa.ai develops hardware and software designed to run AI workloads directly on physical devices rather than relying primarily on cloud-based processing. Its technology is aimed at applications where systems need to process information and respond in real time, including humanoid robots, automotive systems, industrial robotics and drones.
Palette Neat is designed to simplify the process of developing and deploying AI applications across these devices. Alongside its software, the company offers its Modalix Machine Learning System-on-Chip architecture for running AI models at the edge while managing power consumption.
Founder and CEO Krishna Rangasayee said the new investment would support the company's efforts to scale its purpose-built physical AI platform. SiMa.ai is also developing a third-generation platform as demand for higher computing performance grows across autonomous systems.
The company's second-generation platform is already in production and supports performance of up to 50 tera operations per second, or TOPS. SiMa.ai plans to significantly increase this with its third-generation technology, targeting up to 1,000 TOPS as it expands into more computationally demanding applications.
SiMa.ai has operations in the US and India, with around 90 employees in India. The company has been building its presence across robotics, automotive and drone applications, and counts companies including Bosch, AVerMedia, L&T Technology Services, Micron and Synopsys among its customers and partners.
The funding comes as semiconductor and AI companies increasingly focus on bringing artificial intelligence beyond data centres and into devices operating in real-world environments. This category, often described as physical AI, combines AI models with sensors, computing hardware and autonomous systems that can perceive and respond to their surroundings.
For SiMa.ai, the latest capital will support both sides of that stack, with investment directed towards its agentic development software as well as new chips, chiplets and system-on-chip products.
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