SiMa.ai raises $150M Series C at a $1.45B valuation

SiMa.ai, the Physical AI chip and software company, said Monday it raised $150 million in oversubscribed Series C financing co-led by Fidelity Management & Research Company and Amplify, valuing the company at $1.45 billion and bringing total capital raised to $500 million.

A chip company built for robots, cars, and drones just took $150 million at a $1.45 billion valuation. The bet is that more AI will run on purpose-built chips on the machine itself, instead of only on the big graphics chips in a cloud data center.

On Monday, 28 September 2026, SiMa.ai said it raised $150 million in Series C financing. The announcement is on the company’s press page, datelined San Jose. A same-day Business Wire reprint stamps the release 9:00 a.m. Eastern. Series C is a later round of private funding, after earlier rounds that used earlier letters. Oversubscribed means investors offered more than the $150 million the company took. SiMa.ai said the round brings total capital raised to $500 million and values the company at $1.45 billion. That valuation is the price this round puts on the whole company. SiMa.ai is private, so the figure is not a stock-market quote.

Who led, and who joined, as SiMa.ai names them. The round was co-led by Fidelity Management & Research Company and Amplify. The release also names Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72, and StepStone Group. New investors on the same page are AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan. Those are the company’s lists. The page does not say how much each investor put in.

What the company says the money is for. SiMa.ai said the capital will speed the scaling of Palette Neat, which it describes as an agentic software environment for Physical AI. Agentic, here, means software that can carry out steps, not only answer a question. The same paragraph says the money will fund next-generation hardware aiming for 1,000 dense TOPS of compute in purpose-built Physical AI silicon, slated for the first half of 2028. TOPS means trillions of operations a second. Dense TOPS is the label the company prints for that count. The page does not define dense. That 2028 date is the company’s schedule for hardware it says it is still building. The company says those later products will include machine-learning design blocks, smaller chips packaged together, and full chips, aimed at higher-end drones, humanoid robots, driver assistance, and AI in a car’s cockpit. It also says customers already using SiMa.ai will be able to move their applications onto those later designs.

Krishna Rangasayee, founder and chief executive, is quoted on the release. He said Physical AI in humanoids, automotive, and drones is “the gateway to a $50 trillion market that has remained largely untouched by modern innovation.” The $50 trillion figure is his, inside the company announcement. It is not an outside census. He also said the company has built a full platform, rather than repurposing a cloud product, and that the round is meant to scale that platform. Those lines are his.

What SiMa.ai says about its own sales. The company said that between 2024 and 2025 it quadrupled year-over-year revenue growth, and that 2026 is still tracking strong upward revenue momentum. That growth sentence is the company’s. The page does not print a revenue dollar amount, and it does not say what any one customer pays. The customer and partner names it prints are ARK Electronics, AVerMedia, Bosch, Emerson, Intrinsic, Kontron, L&T Technology Services, Micron, STIGA, Synopsys, TRUMPF SE, and Virya Autonomous Technologies. Those names are the list on the page. They are not a split of the revenue.

Two comparisons on the release, in the company’s words. SiMa.ai cites Counterpoint Research for a projection that cumulative shipments of Physical AI devices, including robotics, cars, and drones, will hit 145 million units by 2035. Cumulative means a running total of units shipped, not one year’s sales. That number is Counterpoint’s, as the company cites it. The release also says Physical AI has historically relied on expensive, complex, power-hungry NVIDIA graphics chips, and that SiMa.ai’s pitch is purpose-built silicon plus software. A graphics chip, often called a GPU, is the processor cloud companies use to run AI. The comparison is SiMa.ai’s. The page does not print a share of that market.

Plain English for the product, and what the picture shows. Physical AI, on this page, means AI that runs on robots, cars, drones, and other machines in the world, not only inside a cloud chatbot. SiMa.ai sells the chips and the software for that work on the device itself. The picture is a screenshot of the company’s press page for Monday’s announcement. The $1.45 billion headline and the $150 million Series C opening are in the frame, including the line that Fidelity and Amplify co-led the round. An orange band frames the page. It is the press page. It is not a photograph of a chip.