SiMa AI Raises USD 150 Million in Series C as It Accelerates Physical AI Expansion
TECHWORLD ·
✦ AI Summary
SiMa.ai announced on the 29th that it had successfully raised Series C funding.
Through the round, it raised USD 150 million, bringing cumulative fundraising to USD 500 million.
With the secured funding, SiMa.ai plans to accelerate the expansion of Palette Neat and the development of next-generation hardware.
As the physical AI market expands, SiMa.ai, a global physical AI company, is also continuing to grow. On the 29th, SiMa.ai announced that it had successfully raised Series C funding.
Through this Series C round, SiMa.ai secured an investment of USD 150 million, or about KRW 203.6 billion. With this, SiMa.ai's cumulative fundraising has risen to USD 500 million, or about KRW 678.8 billion, and its corporate valuation was assessed at USD 1.45 billion, or about KRW 1.9686 trillion.
The round was led by Fidelity Management & Research Company, a global asset manager, and Amplify, a U.S. investment firm. SiMa.ai plans to accelerate its business expansion based on this funding.
SiMa.ai plans to accelerate the expansion of Palette Neat with the funds it has secured. Palette Neat is an agentic software environment for physical AI.
SiMa.ai's key investors include Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72, and StepStone Group. This round also added AllianceBernstein, Baron Capital, JP Morgan, and State of Michigan as new investors.
These investors were generally positive about SiMa.ai's capabilities in the physical AI segment. That assessment was presented as a view shared across both existing and new investors.
Mike Dauber, general partner at Amplify Partners, said that from the early stages of working with SiMa.ai, he had been convinced that its vision for a new physical AI architecture based on software-centric silicon design was clear and innovative. He also said SiMa.ai had consistently demonstrated innovation and execution capabilities compared with other companies in the market. He added that SiMa.ai has the potential to grow into a symbolic technology company that will set a new benchmark in physical AI.
Scott Darling, president and managing director of Dell Technologies Capital, said SiMa.ai's platform provides the software agility needed for companies to expand their computer vision and autonomy capabilities, while also delivering computing performance optimized for physical AI. He explained that Dell Technologies Capital viewed SiMa.ai as a key silicon supplier and major enabler in building the next generation of distributed physical AI infrastructure.
SiMa.ai plans to use the funding to accelerate the expansion of Palette Neat, the industry's first agentic software environment for physical AI. It also plans to invest in next-generation hardware development, targeting 1000 dense TOPS, an unprecedented level for physical AI-specific silicon. SiMa.ai plans to unveil its next-generation hardware lineup, consisting of machine learning IP, chiplet, and SoC, in the first half of 2028.
Based on this, SiMa.ai plans to expand into the mid- to high-end drone sector, the humanoid robotics sector, automotive ADAS, and AI-based automotive cockpit businesses. Current SiMa.ai partner customers can easily migrate their existing applications to the next-generation product architecture.
Krishna Rangasayee, founder and CEO of SiMa.ai, said the company has secured resources through this investment and that those resources will be used to accelerate the expansion of its physical AI-focused platform and build a market-leading position.
Source: TECHWORLD · Kim Hye-jin
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407447
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Source: TECHWORLD
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