Physical AI chip developer SiMa AI hits $1.45B valuation

SiMa.ai announced a $150 million Series C funding round that sets the companys valuation at $1.45 billion. The round was co-led by Fidelity Management & Research Company and Amplify, with additional participation from Alter Venture Partners, Dell Technologies Capital and StepStone Group. The new capital brings SiMa.ais total funding to more than $500 million. Founded in 2018 by Krishna Rangasayee, who previously served as COO at chipmaker Groq, SiMa.ai develops silicon and accompanying software intended to run artificial intelligence models directly on devices. The company markets its products as energy-efficient solutions that avoid the need to transfer data to and from cloud servers, aiming to reduce latency and power consumption for edge applications. SiMa.ai says its chips are positioned as more affordable alternatives to graphics processing units produced for data-center AI workloads, such as those from Nvidia, and that they are designed to support a range of physical-AI use cases. The company has highlighted target applications including robots, drones, cameras and other embedded systems, and has noted interest in the broader market for humanoid robots. According to PitchBook, SiMa.ai was valued at $960 million following an $85 million Series B round in July 2025. The Series C and the stated focus on on-device inference reflect continued investor interest in hardware and software stacks that shift AI compute away from centralized cloud infrastructure toward endpoint devices.