The Pulse
Fidelity and Amplify lead SiMa.ai’s $150 million round
SiMa.ai announced a $150 million Series C at a $1.45 billion valuation, with funding aimed at Palette Neat and next-generation hardware planned for the first half of 2028. The company says its hardware will include machine-learning IP, chip
AI.info Team · Written with AI · fact-checked ·
Fidelity and Amplify lead SiMa.ai’s $150 million round
SiMa.ai announced a $150 million Series C on September 28, valuing the physical-AI chipmaker at $1.45 billion and bringing its total capital raised to $500 million. Fidelity Management & Research Company and Amplify co-led the oversubscribed round. Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72 and StepStone Group also participated.
AllianceBernstein, Baron Capital, J.P. Morgan and the State of Michigan joined as new investors, the company said. The financing gives SiMa.ai capital to expand its software platform and develop its next generation of silicon for devices that run AI outside data centers. The company named drones, humanoid robots and automotive systems as target markets.
The next hardware targets 1,000 TOPS
SiMa.ai’s next-generation hardware is planned for the first half of 2028 and will include machine-learning IP, chiplets and systems-on-chip. The designs will deliver 1,000 dense tera operations per second, or TOPS, of compute, the company says. It is targeting medium- to high-end drones, humanoid robotics, advanced driver-assistance systems and AI-powered vehicle cockpits.
Customers using its existing products will be able to move their applications to the new architectures, according to the company. The release lists machine-learning IP, chiplets and SoCs, but does not provide further chip specifications, benchmarks or customer programs tied to the planned hardware. The 2028 date is a target, not a shipping announcement.
Palette Neat joins the funding plan
SiMa.ai plans to use part of the funding to scale Palette Neat, which it describes as an agentic software environment for physical AI. Its wider pitch combines purpose-built chips with software intended to help customers deploy AI models on devices with limits on power and space. That approach can reduce deployment timelines from months to days or hours, the company says.
Founder and CEO Krishna Rangasayee described the market opportunity in the announcement:
“Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation,”
That figure is his estimate, not a disclosed measure of SiMa.ai’s addressable sales or current revenue. The announcement does not provide revenue figures.
SiMa.ai cites growth, but gives no revenue totals
Between 2024 and 2025 the company “quadrupled year-over-year revenue growth,” and is tracking upward momentum in 2026, it said. That wording describes the growth metric, not a claim that revenue itself grew fourfold; the release does not disclose the underlying amounts. Its customer and partner list includes ARK Electronics, AVerMedia, Bosch, Emerson, Intrinsic, Kontron, L&T Technology Services, Micron, STIGA, Synopsys, TRUMPF SE and Virya Autonomous Technologies. The release does not separate customers from partners or disclose sales volumes.
The financing therefore supports two distinct efforts: expanding Palette Neat and building hardware intended for a 2028 release. SiMa.ai has announced the funding, valuation and technical target, but has not yet provided public benchmarks or shipment details for that next-generation chip family.