Key facts
- SiMa.ai raised $150 million in Series C financing at a $1.45 billion valuation.
- The funding round was co-led by Fidelity Management & Research Company and Amplify.
- The capital will accelerate the scaling of Palette Neat, SiMa.ai's agentic software environment for Physical AI.
- Next-generation hardware, slated for the first half of 2028, will deliver 1,000 dense TOPS of compute.
- SiMa.ai's total capital raised now exceeds $500 million.
- The company targets applications in drones, humanoid robotics, automotive ADAS, and AI-powered cockpits.
SiMa.ai, a startup focused on developing chips and software for on-device artificial intelligence, announced on September 28, 2026, that it has secured $150 million in Series C financing. This funding round values the company at $1.45 billion and brings its total capital raised to over $500 million. The round was co-led by Fidelity Management & Research Company and Amplify, with participation from existing investors Alter Venture Partners, Dell Technologies Capital, and StepStone Group, as well as new investors including AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan.
Founded in 2018 by Krishna Rangasayee, SiMa.ai aims to provide energy-efficient, low-latency chips that enable AI processing directly on devices like robots, drones, and cameras, reducing reliance on cloud connectivity. The company's strategy contrasts with the use of expensive and power-hungry GPUs, such as those from Nvidia, positioning SiMa.ai to capture a growing market for physical AI applications.
The newly raised capital will be used to accelerate the scaling of Palette Neat, SiMa.ai's agentic software environment for Physical AI, and to fund the development of next-generation hardware. These new offerings, expected in the first half of 2028, are designed to deliver 1,000 dense TOPS of compute in purpose-built silicon, including machine learning IP, chiplets, and SoCs. The company is targeting medium to high-end drones, humanoid robotics, advanced driver assistance systems (ADAS) for automotive, and AI-powered cockpits.
SiMa.ai reported significant year-over-year revenue growth between 2024 and 2025 and strong upward momentum for 2026. The company highlighted its customer and partner network, which includes companies like Bosch, Emerson, and Micron. Counterpoint Research projects that cumulative shipments of physical AI devices will reach 145 million units by 2035.