SiMa.ai, a San Jose, CA-based software-centric embedded edge machine learning system-on-chip company, has raised $70 million in funding, bringing its total raised capital to $270 million.
Investors
The round was led by Maverick Capital, with participation from Point72 and Jericho, along with existing investors such as Amplify Partners, Dell Technologies Capital, Lip-Bu Tan, and others.
Maverick Capital is a registered investment adviser managing private investment funds exclusively for qualified investors. The firm offers investment advisory and portfolio management services. They are based in Dallas and New York with research offices in Philadelphia and San Francisco.
SiMa.ai Use of Funds
The company plans to utilize this investment to meet the increasing demand for edge AI/ML with its current-generation Machine Learning System-on-Chip (MLSoC), as well as to expedite the development and release of its second-generation MLSoC scheduled for launch in Q1 of 2025.
About SiMa.ai
SiMa.ai provides software-centric embedded edge machine learning solutions, specializing in Machine Learning System-on-Chip (MLSoC) technology. SiMa.ai's MLSoC architecture combines cutting-edge hardware with innovative software algorithms, offering unparalleled performance, efficiency, and versatility for a wide range of edge computing applications. Its hardware-to-software stack flexibly adjusts to any framework, network, model, sensor, or modality all in one platform. The company's technology enables edge devices, including robots, drones, diagnostic machines, and autonomous vehicles, to perform tasks such as computer vision, speech recognition, and multimodal data processing with exceptional accuracy and speed.
Funding Details
Company: SiMa Technologies, Inc.
Raised: $70.0M
Round: Unknown
Funding Month: April 2024
Lead Investors: Maverick Capital
Additional Investors: Point72, Jericho, Amplify Partners, Dell Technologies Capital, Lip-Bu Tan
Company Website: https://sima.ai/
Software Category: Machine Learning Software
Source: https://www.businesswire.com/news/home/20240404367032/en/