A software-focused embedded edge machine learning system-on-a-chip startup, SiMa.ai, announced today that Maverick Capital has led a $70 million fundraising round for the business.
Krishna Rangasayee, Founder and CEO at SiMa.ai, confirmed the funding in a press release on Thursday.
According to the announcement, Point72, Jericho, and other current investors Amplify Partners, Dell Technologies Capital, Lip-Bu Tan, and others participated in the investment round.
The AI startup was founded by Krishna Rangasayee, and Steven J. Rosston in 2018 as a machine learning company delivering the industry’s first software-centric purpose-built MLSoC™ platform.
The startup also revealed a collaboration with BrightDrive, an AV company, to integrate SiMa.ai’s machine learning system-on-chip (MLSoC) technology with BrightDrive’s hardware.
Since SiMa.ai’s chips will be utilised to identify the AV’s surroundings and potential barriers, they are engineered to produce safe AV technology. SiMa.ai and BrightDrive have both declared their intention to construct autonomous vehicles (AVs) with levels 1 through 5.
The San Jose-based business, which focuses on the 5W–25W energy usage sector, introduced its first machine learning system on a chip (ML SoC) to combine AI and ML through a software-hardware combination.
News.ng gathered that Arm Holdings provides the computing subsystem for SiMa.ai, while Taiwan’s TSMC is the manufacturing partner for the company’s first- and second-generation AI chipsets.
“We have established undeniable technology leadership with our first generation MLSoC and with that momentum, also recognized the imminent need to equip our customers with one software-centric platform that supports all modalities from computer vision to GenAI.
“To that end, we’re accelerating our ability to execute and have strengthened our investor base even further with the addition of Maverick Capital, Point72 and others, as we remain laser-focused on powering the edge the world relies on.”
We earlier reported that Innoson Vehicles, Nigeria’s trailblazing indigenous automobile manufacturing company, marks a significant milestone today as it celebrates 13 years since Chief Innocent Chukwuma initiated the manufacturing of vehicles.