Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Chip Startup Raises $70 Million to Quicken AI on Cars and Robots

Apr 04, 2024 - bloomberg.com
Silicon Valley-based chip startup SiMa.ai has secured $70 million in a funding round led by Maverick Capital. The funds will be used to develop chips aimed at accelerating AI applications in everyday consumer devices, ranging from cameras to cars. Other investors in this round included Point72, Jericho, Amplify Partners, Dell Technologies Capital, and Fidelity Management.

The San Jose firm, which has now amassed a total of $270 million in funding, specializes in designing processors that enable devices to interpret visual or auditory data from their surroundings and transform it into text, speech, or video content.

Key takeaways:

  • SiMa.ai, a Silicon Valley chip startup, has raised $70 million in a funding round led by Maverick Capital.
  • The funds will be used to develop chips designed to enhance AI applications in everyday consumer devices like cameras and cars.
  • Point72, Jericho, Amplify Partners, Dell Technologies Capital and Fidelity Management also participated in the financing round.
  • The San Jose firm, which has now raised a total of $270 million, designs processors that help devices interpret and convert data into text, speech or video content.
View Full Article

Comments (0)

Be the first to comment!