System on Chip Startup SiMa.ai Gets New Investor, Total Investment Shoots $187 M
Machine Learning SoC firm SiMa.ai on Thursday announced the extension of its Series B1 round to $67 million with participation from MSD Partners, L.P, taking the total investment to $187 million. The round witnessed participation from existing partners such as Fidelity Management & Research Company, Amplify Partners, Wing Venture Capital, Alter Venture Partners, among others. SiMa.ai CEO and founder Krishna Rangasayee said, “This latest funding allows us to build upon our product strength and customer momentum, validating our ability to disrupt the embedded edge industry by bringing effortless machine learning to this multi-trillion-dollar market. We are grateful to all our investors for believing in our company’s vision and team as we enter into our next growth phase.” The Series B1 financing round will enable the firm to scale critical functions and accelerate hiring worldwide. In addition, the investment aims to provide the capital to drive customer success and operations at a global level. The machine learning innovator has made significant strides, shipping the industry’s first purpose-built and software-centric MLSoC Platform for the edge market with commercial success. MSD growth’s managing director and co-head Victor Hwang commented, “To unlock the power of machine learning’s advanced capabilities, the embedded edge industry needs an iconic, forward-thinking, industry disruptive company like SiMa.ai that enables customers to bring their innovative products to market.”
The round witnessed participation from existing partners such as Fidelity Management & Research Company, Amplify Partners, Wing Venture Capital, Alter Venture Partners, among others
The round witnessed participation from existing partners such as Fidelity Management & Research Company, Amplify Partners, Wing Venture Capital, Alter Venture Partners, among others
["AI Startups"]
["API", "funding", "machine learning", "programming_languages:R", "AI", "venture capital", "ML", "Aim", "R", "AI Startups"]
["AI", "machine learning", "ML", "Aim", "R", "API", "venture capital", "funding", "programming_languages:R"]
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