Edge AI chip startup SiMa.ai has raised $150 million to support the continued development of its physical AI platform.

The Series C round was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, J.P. Morgan, and the State of Michigan, among others. The fundraise has seen the company valued at $1.45 billion.

The funding will allow SiMa to continue developing its next-generation hardware, which the company said will deliver “1,000 dense TOPS of compute in purpose-built AI silicon.” Slated for release in H1 2028, SiMa said the offering will include machine learning IP, chiplets, and SoCs (system-on-chips) to power physical AI applications, such as humanoid robotics.

“Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation,” said Krishna Rangasayee, founder and CEO at SiMa.ai. “While others are still figuring out the pieces or repurposing their cloud offerings, we’ve built the entire puzzle. This investment will further catapult us into a dominant position, giving us the resources to scale our purpose-built platform and secure an undeniable lead in the Physical AI race.”

Founded in 2018 by Rangasayee, former COO of Groq, the San Jose, California-based company targets the market segment between 5W and 25W of energy usage. The company’s embedded Edge machine learning system-on-chip (MLSoC) was first released in 2022, with the second-generation launched in September 2024.