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SiMa.ai secures $70M for AI chip development

SiMa.ai secures $70M for AI chip development
SiMa.ai secures $70M for AI chip development

SiMa.ai, a San Jose-based embedded edge machine learning company, raised $70M in funding.

The round was led by Maverick Capital and saw participation from Point72, Jericho, and existing investors including Amplify Partners and Dell Technologies Capital.

Funds will be used to meet the demand for SiMa.ai's first-generation Machine Learning System-on-Chip (MLSoC) and to accelerate the development of its second-generation MLSoC, set for release in Q1 2025.

Founded by CEO Krishna Rangasayee, SiMa.ai offers a software-centric hardware platform that enhances performance and energy efficiency for edge ML applications in sectors such as industrial manufacturing, retail, aerospace, defense, agriculture, and healthcare.

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