SiMa.ai, a US-based developer of low-power edge computing technology, has raised $80m in series B financing from investors including computing equipment producer Dell’s corporate venturing unit, Dell Technologies Capital.
Investment and financial services group Fidelity Management & Research led the round, which was also backed by Adage Capital Management, Amplify Partners, Wing Venture Capital, Alter Venture Partners and +ND Capital.
Founded in 2018, SiMa has built a system-on-chip platform for machine learning chips and will channel the series B proceeds into shaping it into a product, in addition to commercialisation activities and increasing headcount.
Krishna Rangasayee, SiMa’s founder and chief executive, said: “We are thrilled to welcome Fidelity and Adage to the SiMa.ai family and are very grateful for their belief in our vision and in our company.
“The series B round of funding is further testament to the incredible hard work and dedication of our very talented team and our world-class customers and technology partners who are vested in our joint success. Together, we are scaling machine learning at the embedded edge.”
Dell Technologies Capital had led the company’s $30m series A round in May 2020, investing alongside Amplify Partners, Wing Venture Capital and +ND Capital to bring its overall funding to $40m.
