SiMa.ai, a San Jose, CA-based machine learning company enabling deployment and scaling at the embedded edge, announced that it extended its Series B1 round to $67 million with new participation from MSD Partners, L.P.
The round includes participation from existing investors Fidelity Management & Research Company, Amplify Partners, Dell Technologies Capital, Wing Venture Capital, Alter Venture Partners, +ND Capital, and Lip-Bu Tan.
The Series B1 financing enables SiMa.ai to accelerate hiring and scale critical functions worldwide. In addition, the investment will provide the capital to drive customer success and operations globally.
“I would like to welcome MSD Partners as our newest investor,” said Krishna Rangasayee, CEO and founder of SiMa.ai. “This latest funding allows us to build upon our product strength and customer momentum, while scaling the company more aggressively than we originally planned and validating our ability to disrupt the embedded edge industry by bringing effortless machine learning to this multi-trillion-dollar market. We are grateful to all our investors for believing in our company’s vision and team as we enter into our next growth phase.”
SiMa.ai has made significant strides in positioning itself as a breakthrough machine learning (ML) innovator. More recently, the company announced it has started shipping the industry’s first purpose-built software-centric MLSoC Platform for the embedded edge market with first-time-tape-out commercial success.
Company: Sima Technologies, Inc.
Raised: $67.0M
Round: Series B1
Funding Month: October 2022
Lead Investors: MSD Partners, L.P
Additional Investors: Fidelity Management & Research Company, Amplify Partners, Dell Technologies Capital, Wing Venture Capital, Alter Venture Partners, +ND Capital, and Lip-Bu Tan
Company Website: https://sima.ai/
Software Category: Machine Learning SoC (MLSoC™) platform
About the Company: SiMa.ai is a Machine Learning company delivering the industry’s first software-centric, purpose-built MLSoC platform. With push-button performance, it enables effortless ML deployment and scaling at the embedded edge by allowing customers to address any computer vision problem while achieving 10x better performance at the lowest power. Initially focused on computer vision applications, SiMa.ai is led by technologists and business veterans backed by a set of top investors committed to helping customers bring ML onto their platforms.
Source: https://sima.ai/sima-ai-welcomes-new-investor-msd-partners-bringing-total-investment-to-187-million-sima-ai-extends-oversubscribed-series-b1-funding-to-67-million/