SiMa.ai, a company specialising in chips and software that enable artificial intelligence (AI) to run directly on devices such as robots, drones, and cameras, has completed a $150 million Series C funding round. This latest investment values the startup at $1.45 billion.
The funding round was co-led by Fidelity Management & Research Company and Amplify, with additional participation from Alter Venture Partners, Dell Technologies Capital, and StepStone Group. This new capital brings SiMa.ai's total funding raised to over $500 million.
Founded in 2018 by Krishna Rangasayee, SiMa.ai aims to provide energy-efficient chips that remove the necessity of sending data to and from the cloud. The company hopes its chips, which reportedly offer low-latency performance and are more affordable compared to Nvidia's GPUs, will help it gain market share in the expanding sector for physical AI devices, including humanoid robots.