Physical AI chip developer SiMa.ai hits $1.45B valuation

SiMa.ai, a startup developing chips and software that allow robots, drones, cameras, and other devices to run AI directly on the device, has raised a $150 million Series C at a $1.45 billion valuation. The round was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, and StepStone Group. 

Founded in 2018 by Krishna Rangasayee, who was previously the COO of chipmaker Groq, the company provides energy-efficient chips that eliminate the need to send data back and forth to the cloud. SiMa.ai hopes that its low-latency performance and more affordable chips, compared to Nvidia’s GPUs, will help it capture the growing market for physical AI devices, including humanoid robots.

The new round brings SiMa.ai’s total capital raised to over $500 million. The startup was previously valued at $960 million after raising an $85 million Series B in July 2025, according to PitchBook.