US-based SiMa.ai has raised $85 million in an oversubscribed funding round, taking its total capital raised to $355 million. The round was led by Maverick Capital, with participation from existing investors and new investor StepStone Group.
The company plans to use the funds to expand globally and scale its physical AI platform. Investments will focus on software innovation, go-to-market operations, customer success, and advancing its automotive roadmap.
“Our new funding validates the growing demand for physical AI solutions,” said Krishna Rangasayee, founder and CEO of SiMa.ai. “With support from our investors, we are scaling to meet global demand across robotics, automotive, industrial automation, aerospace and defence, smart vision, and healthcare.”
In a recent exclusive interview with AIM, Rangasayee also praised the Indian market, saying, “We believe India could be the next market maker for the planet. And not only for local consumption, but for global consumption.”
SiMa.ai offers a full-stack physical AI platform with SiMa.ai ONE, combining custom silicon with a software-centric approach. Its second-generation MLSoC, Modalix, is now shipping along with Palette, a software suite featuring an SDK and Edgematic, a no-code visual development tool. The platform supports all major machine learning frameworks for applications in edge computing.
“SiMa.ai is redefining possibilities at the edge,” said Andrew Homan, managing partner at Maverick Capital. “Their low-power, high-performance solutions with simple deployment are well positioned for a fast-scaling market.”
StepStone Group partner John Avirett said the rise of generative AI highlights the opportunity for efficient AI at the edge. He further mentioned that SiMa.ai’s full-stack solution and growing customer adoption make it a clear leader in this space.
Recently, last month, the company also partnered with Cisco to accelerate the deployment of AI in Industry 4.0 applications. The collaboration integrated SiMa.ai’s Modalix AI platform with Cisco’s IE3500 industrial Ethernet switches to enable low-latency, production-grade AI at the edge across manufacturing, logistics, and automation sectors.
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