SiMa.ai Raises $150 Million at $1.45 Billion, a 51% Step-Up From Its 2025 Round

SiMa.ai, a maker of chips for robots, drones and cameras, raised $150 million in a Series C at a $1.45 billion valuation, TechCrunch reported on Sept. 28. The round was co-led by Fidelity Management & Research Company and Amplify.

The valuation is 51% above the $960 million set in the July 2025 Series B, per TechCrunch. Neither the company's announcement nor TechCrunch says whether $1.45 billion is pre- or post-money, so the implied stake sold, about 10% if it is post-money, is a bound rather than a fact.

Who is in the round

Alter Venture Partners, Dell Technologies Capital, Maverick Capital, +ND Capital, Point72 and StepStone Group participated, and the company described the round as oversubscribed. AllianceBernstein, Baron Capital, J.P. Morgan and the State of Michigan are new investors.

The sources read do not name the Series B lead, so whether it returned as an investor cannot be checked. Total capital raised is now about $500 million, so the valuation is 2.9 times the money put in.

Round	Date	Valuation
Series B	July 2025	$960 million
Series C	Sept. 2026	$1.45 billion

What the money buys

SiMa.ai was founded in 2018 by Krishna Rangasayee, formerly chief operating officer of Groq, and sells the Modalix system-on-chip together with a software environment called Palette Neat. The company says it has more than 150 customers, naming Bosch, Micron and TRUMPF.

The proceeds are earmarked for humanoid robotics, automotive, drones and industrial automation, for scaling Palette Neat, and for the next chip. That part has a date: the next hardware generation is scheduled for the first half of 2028, with a target of 1,000 dense TOPS at under 80 watts. Those are company targets for silicon that does not yet exist, and they should be read that way.

1. Series B valuation (July 2025)960 $M
2. Series C valuation (Sept. 2026)1450 $M
3. Total capital raised500 $M

Source: TechCrunch and SiMa.ai announcement via Pulse 2, accessed 2026-09-29

Revenue is the missing number

The announcement says revenue quadrupled between 2024 and 2025 and that momentum continued into 2026. It gives no base. A company that went from $5 million to $20 million and one that went from $25 million to $100 million both quadrupled, and they would be priced at very different multiples: $1.45 billion is 72 times the first figure and 14.5 times the second.

Neither is a claim about SiMa.ai's actual sales, which are not public. The point is that without the base, the valuation cannot be tested against comparables. TechCrunch also reports no named customer contracts or per-chip pricing.

Rangasayee said in the announcement: "Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation." That is a market-size claim from the CEO, with no source attached to it in the release.

The competition it names

TechCrunch says SiMa.ai positions itself against Nvidia's GPUs, on lower latency and lower cost. The buyers it is chasing are robot makers, whose production timelines are covered in Agility Robotics' wheeled Digit plans and Amazon's $100 million Indiana robot plant.

The next observable event is a customer disclosure. A shipped volume for Modalix, or a named humanoid maker designing it in, would do more for the valuation than another investor on the list.