29 September 2026 | News
Image Courtesy: Public Domain
SiMa.ai, a leader in Physical AI, announced $150 million in Series C financing, bringing the total capital raised to $500 million and valuing the company at $1.45 billion. The round was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72, and StepStone Group. AllianceBernstein, Baron Capital, J.P. Morgan, and the State of Michigan also joined the round as new investors.
The global market for Physical AI devices, including robotics, automotive, and drones, is set to explode with cumulative shipments projected to hit 145 million units by 2035, according to Counterpoint Research. This surge marks AI’s transition from software applications into tangible, real-world consumer and industrial hardware, creating one of the most lucrative and transformative market opportunities for the decade ahead. While Physical AI has historically relied on expensive, complex, and power-hungry NVIDIA GPUs, SiMa.ai delivers the industry’s leading full-stack Physical AI platform combining purpose-built silicon and software to streamline deployments from months to days or hours.
“Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation,” said Krishna Rangasayee, Founder and CEO at SiMa.ai. “While others are still figuring out the pieces or repurposing their cloud offerings, we’ve built the entire puzzle. This investment will further catapult us into a dominant position, giving us the resources to scale our purpose-built platform and secure an undeniable lead in the Physical AI race.”
This capital raise will accelerate the scaling of Palette Neat, the industry’s first agentic software environment for Physical AI, and fund next-generation hardware that will deliver an unprecedented 1,000 dense TOPS of compute in purpose-built Physical AI silicon. Slated for H1 2028, the next-generation hardware offerings will include machine learning IP, chiplets, and SoCs, as SiMa.ai aggressively extends its footprint in medium to high-end drones, humanoid robotics, automotive advanced driver assistance systems (ADAS), and AI-powered cockpits. Customers engaging with SiMa.ai today will be able to easily migrate their applications for next generation product architectures.
Fueling this Series C is SiMa.ai’s global expansion and strong commercial validation with a premier roster of brands across Physical AI markets. Between 2024 and 2025, the company quadrupled year-over-year revenue growth, and it continues tracking strong upward revenue momentum for 2026. SiMa.ai’s customer and partner network now spans Fortune 500 leaders and specialized technology innovators, including ARK Electronics, AVerMedia, Bosch, Emerson, Intrinsic, Kontron, L&T Technology Services, Micron, STIGA, Synopsys, TRUMPF SE, and Virya Autonomous Technologies, Bangalore.
