SiMa.ai, an AI based semiconductor company, announced a $37 million Series B1 investment led by Dell Technologies founder-backed MSD Partners on Wednesday.
Dell Technologies Capital, Amplify Partners, Alter Venture Partners, +ND Capital, Wing Venture Capital, and entrepreneur Lip-Bu Tan were among the existing partners that participated in the round.
The current investment, an expansion of the $30 million Series B round SiMa.ai completed in May, brings the firm's total capital raised to $187 million. The firm has over 100 workers in Bengaluru, India.
SiMa.ai is a machine learning system on chip platform founded early November 2018 via Krishna Rangasayee.
It assists clients in incorporating machine learning inference in embedded utilized to expand, with an emphasis on smart vision, robotics, and autonomous systems.
"This latest funding allows us to build on our product strength and customer momentum, while scaling the company more aggressively than we originally planned and validating our ability to disrupt the embedded edge industry by bringing effortless machine learning to this multi-trillion-dollar market," said Rangasayee, the company's chief executive officer and founder.
The funding will be used to speed recruiting and grow vital functions globally. It will also use the money to improve customer success and worldwide operations.
MSD Partners, located in New York, manages nearly $20 billion worth of assets on honor of Dell Technologies CEO and founder Michael Dell & his families, as well as other long-term investors. Previously, the business invested in Fanatics, iCapital, 6Sense, Flexport, Stripe, and Verkada.
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