SiMa.ai, an artificial intelligence chip startup company in Silicon Valley, announced on Tuesday that it has raised an additional US$13 million from investors including TSMC VentureTech Alliance. SiMa.ai has raised a total of US$200 million so far. U.S. dollars.
This is at least the third investment in a U.S. chip startup by the VentureTech Alliance in the past month. In May, the VentureTech Alliance participated in funding rounds for Ayar Labs and Ethernovia for $25 million and $64 million, respectively.
As the viral success of ChatGPT sparked an AI boom, this brought another round of investment in AI hardware. But some startups that raised big money in previous years have struggled.
SiMa.ai develops software and hardware to run artificial intelligence algorithms on devices such as industrial robots, drones, security cameras, self-driving cars, and more. SiMa.ai declined to reveal its current valuation, but CEO and founder Krishna Rangasayee said the company has started generating revenue since its founding in 2018 and has more than 50 customers testing its chips. Rangasayee also highlighted the results of a recent test by SiMa.ai, which beat AI chip giant Nvidia in terms of both performance and power consumption, the test data was released by MLCommons.
