SiMa.ai | $150M (Series C)

Founders: Krishna Rangasayee

Founded: 2018

HQ: San Jose, California (major India presence, ~90 employees)

Sector: Physical AI / Edge Chips

What they do

→ Builds purpose-built chips and software for "Physical AI" - letting drones, robots, and vehicles run AI locally, without the cloud

→ Palette Neat, its agentic software layer, is central to the platform

→ Positions itself as a lower-cost, lower-power alternative to Nvidia GPUs for edge AI workloads

→ Clients include Bosch, Emerson, Micron, Synopsys, L&T Technology Services, and AVerMedia

The Funding

→ Raised $150M in an oversubscribed Series C

→ Co-led by Fidelity Management & Research and Amplify

→ New investors AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan joined

→ Values SiMa.ai at $1.45B, up from $960M after its July 2025 Series B

→ Total funding now $500M

Why it matters

→ Revenue grew 4x year-on-year between 2024 and 2025, with momentum continuing into 2026

→ Targets a market Rangasayee calls "$50 trillion" - humanoids, automotive, and drones running AI at the edge

→ Next-gen chips aim for 1,000 TOPS of compute, slated for H1 2028

→ Bets the future of AI moves off the cloud and onto the device itself

Will edge chips like this actually dent Nvidia's grip on the AI hardware stack?