SiMa.ai Secures $70 Million in Funding for Edge Machine Learning MLSoC Technology Company
SiMa.ai, a leading embedded edge machine learning system-on-chip (MLSoC) technology company, has just announced that it has secured an additional £55.7 million ($70 million) in funding. This latest round of funding was led by Maverick Capital, with contributions from Point72, Jericho, and existing investors including Amplify Partners, Dell Technologies Capital, and Lip-Bu Tan, among others. With a total of £213.1 million ($270 million) raised to date, SiMa.ai is poised to meet the growing customer demand for edge artificial intelligence (AI) and machine learning (ML) technologies.
One of the key goals of this latest funding round is to expedite the launch of SiMa.ai’s next-generation MLSoC, which is scheduled for release in Q1 of 2025. This second-generation MLSoC will introduce a unified, software-centric platform that caters to all edge AI needs. It promises scalability for customers’ AI/ML applications, from computer vision and transformers to multimodal generative AI, adapting to the evolving AI/ML landscape.
The rise of generative AI is transforming the way we interact with AI/ML technologies, particularly in edge devices like robots, drones, and autonomous vehicles. SiMa.ai’s MLSoC is designed to address these changing demands, ensuring high performance and power efficiency across various AI modalities.
Founder and CEO of SiMa.ai, Krishna Rangasayee, emphasized the importance of providing a versatile platform that supports all AI modalities, backed by a strong investor base. “With our first-generation MLSoC establishing our technology leadership, we are now focused on providing a versatile platform that supports all AI modalities, backed by our strengthened investor base,” said Rangasayee.
Andrew Homan, Senior Managing Director at Maverick Capital, highlighted the significance of generative AI in reshaping human-machine collaboration and the future of data center architecture. “The rise of generative AI is catalyzing a shift in data center architecture, and the next wave of innovation will be AI’s expansion to the edge,” said Homan.
SiMa.ai’s collaboration with industry leaders such as Arm, Synopsys, and TSMC brings critical components and technological innovations to the MLSoC, ensuring that it meets the diverse needs of edge AI applications.
This latest funding announcement underscores the continued growth and innovation in the field of edge AI and machine learning. As SiMa.ai continues to push the boundaries of technology, it invites tech enthusiasts to be a part of the latest tech conversations and discover pioneering innovations at one of the most exciting technology events of the year.
Stay tuned for more exciting updates from SiMa.ai as they continue to shape the future of edge AI and machine learning technologies.