SiMa.ai, a Bengaluru-based physical AI startup founded by Krishna Rangasayee, has just closed its Series C round, raising $150 million led by investors including Fidelity Management and Research Company and Ampify. The round also drew participation from investors including Alter Venture Partners, Dell Technologies Capital, StepStone Group, AllianceBernstein, Baron Capital, and J.P. Morgan. This brings the startup’s total funding to $500 million, with a $1.5 billion valuation.
The company said that it will use the money to expand its portfolio and footprint by entering new markets, including scaling Palette Neat, the company’s agentic AI software platform. Moreover, SiMa.ai will develop hardware products such as machine learning IP, chiplets, and system-on-chips (SOCs).
While commenting on the news, Krishna Rangayee said, “Physical AI in humanoids, automotive, and drones is the gateway to a $50 trillion market that has remained largely untouched by modern innovation. While others are still figuring out the pieces or repurposing their cloud offerings, we’ve built the entire puzzle. This investment will further catapult us into a dominant position.”
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SiMa.ai is one of the latest additions to India’s unicron list. Founded in 2018, the company develops training technology for physical equipment like drones, robots, and vehicles, enabling them to run AI applications locally. This helps reduce costs and latency. Moreover, the company is now making waves in the market, with revenue quadrupling between 2024 and 2025.
