SiMa.ai Closes $150M Series C at $1.45B for Physical AI

SiMa.ai closed a $150 million Series C at a $1.45 billion valuation to keep chasing what founder and CEO Krishna Rangasayee calls a "$50 trillion market that has remained largely untouched by modern innovation," meaning silicon for humanoids, automotive, and drones. Fidelity Management & Research Company and Amplify co-led the round, SiliconAngle reported, with Alter Venture Partners, Dell Technologies Capital, and StepStone Group participating, alongside new investors AllianceBernstein, Baron Capital, and J.P. Morgan.

The money is earmarked for a next-generation system-on-chip called Modalix and an agentic development environment named Palette Neat. SiMa is targeting 1,000 tera operations per second with new hardware in the first half of 2028. That number lands below what Nvidia's Jetson AGX Thor already delivers, 2,000 FP4 TOPS for humanoid robots, and above the mid-tier Jetson T2000 and T3000 modules that come in between 400 and 865 TOPS. SiMa positions itself as a lower-power alternative rather than a raw-throughput one.

Rangasayee's pitch is that rivals are repurposing cloud silicon instead of building for the edge. "While others are still figuring out the pieces or repurposing their cloud offerings, we've built the entire puzzle," he said, adding that the funding would help "catapult" SiMa into a dominant position against Nvidia.

The disclosed customer list skews industrial: Robert Bosch, Emerson Electric, Micron Technology, Synopsys, ARK Electronics, and AverMedia Technologies. The article does not disclose revenue, headcount, or which humanoid or automotive programs SiMa has actually shipped into.