Physical AI Chipmaker SiMa.ai Lands $150M Series C, Hits $1.45B Value

SiMa.ai announced $150 million in Series C financing on September 28, 2026, in an oversubscribed round co-led by Fidelity Management & Research Company and Amplify that values the Physical AI chip startup at $1.45 billion and brings its total capital raised to $500 million.

The San Jose, California-based company said the round drew participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72, and StepStone Group, with AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan joining as new investors.

Use of Proceeds and Next-Generation Hardware

SiMa.ai said the capital will accelerate the scaling of Palette Neat, which it describes as the industry’s first agentic software environment for Physical AI, and will fund next-generation hardware designed to deliver 1,000 dense TOPS of compute in purpose-built Physical AI silicon. Slated for the first half of 2028, the next-generation offerings will span machine learning IP, chiplets, and SoCs.

The company said it is directing the new hardware at medium to high-end drones, humanoid robotics, automotive advanced driver assistance systems, and AI-powered cockpits. Current customers will be able to migrate their applications to the next-generation product architectures, the company said.

In the company’s September 28, 2026 announcement, founder and CEO Krishna Rangasayee said: “Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation.” Rangasayee said SiMa.ai has built a complete platform while others are still assembling pieces or repurposing cloud offerings, and that the financing gives the company the resources to scale that platform.

Company-Reported Traction and Investor Statements

SiMa.ai reported that it quadrupled year-over-year revenue growth between 2024 and 2025 and said it is tracking strong upward revenue momentum for 2026, crediting global expansion and commercial validation across Physical AI markets with helping fuel the round. The company said its customer and partner network includes ARK Electronics, AVerMedia, Bosch, Emerson, Intrinsic, Kontron, L&T Technology Services, Micron, STIGA, Synopsys, TRUMPF SE, and Virya Autonomous Technologies.

The release cites a Counterpoint Research projection that cumulative shipments of Physical AI devices, including robotics, automotive, and drones, will reach 145 million units by 2035. SiMa.ai characterized Physical AI as having historically relied on expensive, complex, and power-hungry NVIDIA GPUs, and described its full-stack platform, which pairs purpose-built silicon with software, as streamlining deployments from months to days or hours.

Amplify Partners general partner Mike Dauber said the firm has backed SiMa.ai from day one and described the company’s vision as a fundamentally new architecture for Physical AI where software dictates the silicon. He said SiMa.ai has reduced the complexity of deploying advanced AI models on physical edge devices and accelerated time to market for autonomous systems.

Dell Technologies Capital president and managing director Scott Darling described SiMa.ai as a critical silicon provider for distributed Physical AI infrastructure, citing the platform’s software agility and Physical AI-optimized compute as enterprise intelligence migrates into the physical world. StepStone Group partner John Avirett said scaling Physical AI demands power efficiency and seamless integration into highly constrained environments, describing SiMa.ai’s platform as purpose-built for real-world applications.

Prior Round and Current Shipping Platform

The Series C follows SiMa.ai’s August 1, 2025 announcement of an $85 million round led by Maverick Capital, with StepStone Group joining as a new investor, which brought total capital raised at that time to $355 million. The company said those funds were directed at global expansion and scaling its Physical AI platform, including software innovation, go-to-market operations, customer success, and the automotive roadmap.

That release described the company’s SiMa.ai ONE platform as pairing Modalix, its second-generation multimodal MLSoC then shipping, with the Palette software suite, which combines an SDK with Edgematic, a no-code visual development tool, and supports vision, transformer, and generative AI workloads on a unified architecture.

According to SiMa.ai’s Modalix MLSoC documentation, the chip provides 50 TOPS of multimodal AI compute at sub-10W power, with BF16, INT8, and INT16 precision; MIPI, USB, PCIe Gen5, and SPI interfaces; and support for CNN, ViT, LLM, and LMM workloads. The production-ready Modalix system-on-module is pin-compatible with NVIDIA Jetson Orin NX and Nano modules, enabling drop-in upgrades on existing carrier boards. The family also includes a half-height, half-length PCIe Gen5 x8 card with passive, fanless cooling for commercial and industrial PCs and edge servers, and a chip-down option for integrating the MLSoC directly onto custom boards. The Modalix DevKit, priced at $1,499, ships with Palette software pre-installed and includes a carrier board, the SoM, a power supply, 500GB of NVMe storage, cables, and documentation.