SiMa.ai, a startup developing chips and software for on-device AI, has raised $150 million in a Series C round that values the company at $1.45 billion. The round was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, and StepStone Group.
The company, founded in 2018 by former Groq COO Krishna Rangasayee, designs energy-efficient chips that let robots, drones, cameras, and other devices run AI locally rather than relying on cloud connections. SiMa.ai says this approach offers lower latency and lower cost than Nvidia's GPUs, positioning it for the growing physical AI market, including humanoid robots.
The new round brings total capital raised to over $500 million. According to PitchBook, the startup was valued at $960 million after an $85 million Series B in July 2025, meaning the new valuation represents a significant step up.