SiMa.ai Raises $70M to Develop Next-Gen AI Chip for Edge Devices, Targeting $119B GenAI Market
• SiMa.ai raised $70M in new funding to develop a next-gen AI chip for multimodal generative AI processing, targeting a $119B market • Launching the 2nd-gen chip in 2025 focused on advancing GenAI capabilities for edge devices • Chip works across frameworks and models, supporting computer vision, transformers, speech, text, etc. • Competes with Nvidia for edge AI with better power efficiency and software • Total funding raised reaches $270M; plans to grow R&D and sales teams globally