Artificial intelligence-backed chip startup SiMa.ai has bagged $37 million (around Rs 296 crore) in an extended Series B1 round led by MSD Partners, backed by Dell Technologies’ founder and CEO Michael Dell. 

Existing partners including, Amplify Partners, Fidelity Management and Research Company, Dell Technologies Capital, Wing Venture Capital, Alter Venture Partners, +ND Capital and entrepreneur Lip-Bu Tan also took part in the round. The Bengaluru and California-based company will use the fresh funds to scale up hiring and critical functions globally.

So far, it has raised about $187 million, the latest fundraise is an extension of its $30 million Series B round closed in May. 

Founded by Krishna Rangasayee in November 2018, SiMa.ai offers a machine learning (ML) system on chip platform. Focusing on areas such as smart vision, robotics and autonomous systems, the platform helps customers in integrating ML inference in embedded edge applications. 

“This latest funding allows us to build upon our product strength and customer momentum, while scaling the company more aggressively than we originally planned and validating our ability to disrupt the embedded edge industry by bringing effortless machine learning to this multi-trillion-dollar market,” said Rangasayee. 

Victor Hwang, Managing Director and Co-Head, MSD Growth, said, “We are excited to invest in SiMa.ai and the team led by Krishna Rangasayee at this pivotal time in the wider adoption of machine learning.”