SiMa.ai hits $1.45B valuation after $150M Series C as Physical AI chips attract heavyweight investors

SiMa.ai, a San Jose-based startup building specialized chips and software for edge AI applications, has closed a $150M oversubscribed Series C round that values the company at $1.45B post-money. The round was co-led by Fidelity Management & Research Company and Amplify Partners, with a roster of new investors that reads like a who’s-who of institutional capital: AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan.

Total capital raised now sits at $500M.

The pitch: AI chips that work at the edge, not in the cloud

SiMa.ai builds what it calls Machine Learning System-on-Chip platforms, purpose-built silicon designed to run AI workloads not in massive data centers but directly on physical devices. Think humanoid robots processing visual data in real time, autonomous vehicles making split-second navigation decisions, or industrial drones inspecting infrastructure without needing to phone home to a cloud server.

Founded in 2018 by Krishna Rangasayee, a semiconductor industry veteran, the company started with a $30M Series A in 2020. Six years and several funding rounds later, it’s raised half a billion dollars and is planning next-generation hardware capable of 1,000 dense TOPS (tera operations per second) of compute, with a launch targeted for the first half of 2028.

Revenue growth tells the real story

SiMa.ai reported that its revenue quadrupled from 2024 to 2025, and the company expects that growth momentum to carry into 2026 as it expands globally and deepens commercial relationships.

The proceeds from this round will go toward two priorities: enhancing Palette Neat, the company’s agentic software environment for edge AI development, and advancing the next-generation hardware roadmap.

Existing investors including Alter Venture Partners and Dell Technologies Capital also participated in this round.

A crowded market with enormous stakes

The company’s leadership has pointed to a $50 trillion market opportunity across humanoids, automotive, and drone applications.