SiMa.ai Raises $150M Series C at $1.45B Valuation for Edge AI Chips

SiMa.ai, a developer of chips and software enabling on-device AI for robots, drones and cameras, raised $150 million in Series C funding at a $1.45 billion valuation, the company announced on September 28, 2026. Fidelity Management & Research Company and Amplify co-led the round, with participation from Alter Venture Partners, Dell Technologies Capital and StepStone Group. The startup, founded in 2018 by former Groq COO Krishna Rangasayee, builds energy-efficient processors that run AI locally, eliminating the need to shuttle data to the cloud. SiMa.ai is positioning its low-latency, lower-cost chips against Nvidia's GPUs to capture demand in physical AI devices, including humanoid robots. Total capital raised now exceeds $500 million. The company was last valued at $960 million following an $85 million Series B in July 2025, according to PitchBook.