AI: Chip specialist Sima.ai receives another $150 million
The funding round is led by Fidelity and Amplify, with the company achieving a valuation of nearly $1.5 billion. Next year, Sima.ai plans to focus on cars.
Berlin - Chip specialist Sima.ai has secured an additional investment of over $150 million and is now valued at nearly $1.5 billion, according to a funding round led by Fidelity Management and Amplify, with participation from Alter Venture Partners, Dell Technologies, StepStone, AllianceBernstein, Baron Capital, and J.P. Morgan, the company announced on Monday.
The funds will be used to develop the next generation of its systems, Sima.ai founder Krishna Rangasayee said. Sima.ai focuses on locally positioned AI assistants that function without internet connection and consume significantly less energy than existing systems, Rangasayee explained. Such systems could find applications in humanoid robots, cars, or drones, he said, speaking of a market with a volume of $50 trillion.
Currently, the company is experiencing the largest growth in drones and robots, with the automotive sector expected to become the revenue driver starting next year.
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