[Funding alert] SiMa.ai Secures $70 Mn Funding Led by Maverick Capital

SiMa.ai, the software-centric, embedded edge machine learning system-on-chip company, today announced it has raised an additional $70M of funding led by Maverick Capital, with participation from Point72 and Jericho, as well as existing investors Amplify Partners, Dell Technologies Capital, Lip-Bu Tan and others.

SiMa.ai will utilize the $270M raised to date to continue meeting customer demand for edge AI/ML with its first-generation Machine Learning System-on-Chip (MLSoC) while accelerating the delivery of its second-generation MLSoC for release in Q1 of 2025. 

“AI — particularly the rapid rise of generative AI — is fundamentally reshaping the way that humans and machines work together. Our customers are poised to benefit from giving sight, sound and speech to their edge devices, which is exactly what our next generation MLSoC is designed to do,” said Krishna Rangasayee, Founder and CEO at SiMa.ai. “We have established undeniable technology leadership with our first generation MLSoC and with that momentum, also recognized the imminent need to equip our customers with one software-centric platform that supports all modalities from computer vision to GenAI. To that end, we’re accelerating our ability to execute and have strengthened our investor base even further with the addition of Maverick Capital, Point72 and others, as we remain laser focused on powering the edge the world relies on.” 

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With the release of the second-generation MLSoC, SiMa.ai will unveil one software-centric platform for all edge AI. SiMa.ai’s ‘one platform for all edge AI’ scales with customers as their AI/ML journey evolves, from computer vision, to transformers to multimodal generative AI.

“The computational intensity of generative AI has precipitated a paradigm shift in data center architecture. The next phase in this evolution will be widespread adoption of AI at the edge. Just as the data center has been revolutionized, the edge computing landscape is poised for a complete transformation,” said Andrew Homan, Senior Managing Director at Maverick Capital. “SiMa.ai possesses the essential trifecta of a best-in-class team, cutting-edge technology and forward momentum, positioning it as a key partner for customers traversing this tectonic shift. We are excited to join forces with SiMa.ai to seize this once-in-a-generation opportunity.”

About SiMa.ai

The embedded edge machine learning system-on-chip (MLSoC) company SiMa.ai focuses on software. The hardware to software stack of SiMa.ai is flexible enough to adapt to any model, sensor, framework, network, or modality on a single platform. Completely SiMa.ai MLSoC-based Edge ML applications experience tenfold gains in performance and energy efficiency, enabling higher quality intelligence to be applied in minutes to ML use cases ranging from computer vision to generative AI.

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