Private Equity PE-VC Fund Investments
S’ware platform builder for AI applications SiMa.ai raises $85-M led by Maverick Capital
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Bengaluru- and San Jose, California (USA)-based SiMa.ai , a startup focused on developing hardware and software for edge-based AI (artificial intelligence) applications, has raised USD 85 million in a funding round led by Maverick Capital. The round also saw participation from existing investors along with new backer StepStone Group.The new funds will be used to support the firm’s global expansion and develop its physical AI platform, including investment in software development, market operations, customer support, and automotive-related initiatives.Founded in 2018, SiMa.ai’s Modalix platform claims to deliver high AI performance while optimising for power efficiency with applications across industries including robotics, automotive, industrial automation, aerospace, defence, smart vision, and healthcare.