SiMA.ai Raises $70M to Introduce Multimodal GenAI Chip
The rapid proliferation of GenAI is continuing to transform how we interact with AI/ML. GenAI is now taking different forms of multimodality, where it has the capability to process and interpret multiple sensory inputs simultaneously. These multimodal applications need specialized AI chips that are optimized to process diverse data types and handle the complexity of AI models.
SiMA.ai, a pioneering startup in the chip manufacturing sector, has reeled in a $70 million extension funding round as it gets closer to its goal of bringing multimodal GenAI processing chips to the market. The specialized chips are aimed at enhancing AI applications in a wide array of consumer devices, from automotive technologies to industrial robots, and other edge computing devices.
Maverick Capital was one of the lead investors in the latest funding round, with participation from several other investors, including Jericho, Point72, and existing backers Amplify Partners, Dell Technologies Capital, Lip-Bu Tan, and Fidelity Management. SiMa.ai total funding has now reached an impressive $270 million.
Commenting on the investment, Maverick Capital Managing Director Andrew Homan, said “The next phase in this evolution will be widespread adoption of AI at the edge. Just as the data center has been revolutionized, the edge computing landscape is poised for a complete transformation.”
The AI chipset market is forecasted to more than double by 2027 to a staggering $119.4 billion, according to a report by Gartner. Founded in 2018, SiMA.ai has emerged as a key player in the rapidly evolving AI industry. The first-generation SiMa.ai MLSoC delivered industry-leading performance and efficiency for vision-centric edge inference.
SiMa.ai claims the next generation of chips will deliver greater power efficiency and performance. They will enable all types of networks, models, sensors, and modalities for edge AI applications. With the proprietary combination of hardware and software, SiMa.ai MLSoC chips can simplify and scale all edge AI applications through one platform. The second-gen chips are expected to hit the market in the first quarter of 2025.
“AI — particularly the rapid rise of generative AI — is fundamentally reshaping the way that humans and machines work together. Our customers are poised to benefit from giving sight, sound, and speech to their edge devices, which is exactly what our next-generation MLSoC is designed to do,” said Krishna Rangasayee, Founder and CEO at SiMa.ai.
Nvidia is aiming to accelerate AI deployment
The new chips will be built using Taiwan Semiconductor Manufacturing Co. Ltd’s six-nanometer node. They will also feature computer vision processors based on blueprints from Synopsys Inc. and compute subsystem from Arm Holdings.
With its proprietary chipset and no-code software, SiMa.ai has already achieved significant success with its first-generation chipsets, which are used by over 50 companies around the globe.
The existing SiMA.ai chipset lineup is geared towards general purpose use, however, as the demand for GenAi continues to grow, SiMa.ai has turned its focus toward chipsets that can deliver multimodal GenAI capabilities. The AI startup is working on a “few architectural tunings” before the chips are launched in the market.
While there are several AI chip players in the market, SiMa.ai considers Nvidia as its biggest competitor. According to SiMa.ai, Nvidia is great in the cloud but might is not built for the edge, and this is exactly where SiMa.ai plans to gain a competitive advantage. With the latest round of funding, SiMa.ai has the opportunity to accelerate its journey toward a new era of AI-enhanced devices.
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