MSD Partners invests in SiMa.ai bringing its total investment to $187 million

Updated on: 14 November 2022 9:58 pm

While Everstone Capital remains a minority equity holder in the company that provides omnichannel customer engagement software, Long Ridge Equity Partners has invested in Acqueon

Everstone Capital exits majority stake in Acqueon Photo: While Everstone Capital remains a minority equity holder in the company that provides omnichannel customer engagement software, Long Ridge Equity Partners has invested in Acqueon

SiMa.ai, a machine learning company enabling deployment and scaling at the embedded edge, has extended its Series B1 round to $67 million with new participation from MSD Partners, L.P. The round also includes participation from existing partners: Fidelity Management & Research Company, Amplify Partners, Dell Technologies Capital, Wing Venture Capital, Alter Venture Partners, +ND Capital and Lip-Bu Tan.

The Series B1 financing enables SiMa.ai to accelerate hiring and scale critical functions worldwide. In addition, the investment will provide the capital to drive customer success and operations globally.

Krishna Rangasayee, chief executive officer (CEO) and founder of SiMa.ai said that the latest funding allows the company to build upon its product strength and customer momentum. "We can also scale more aggressively than originally planned and validate our ability to disrupt the embedded edge industry by bringing effortless machine learning to this multi-trillion-dollar market,” he added.

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Investment firm MSD Partners deploys capital on behalf of Dell Technologies founder and CEO Michael Dell and his family and other long-term-oriented investors. Currently managing over $20 billion, it has invested in companies like 6Sense, Fanatics, Flexport, Guesty, iCapital, Stripe and Verkada.

“We are excited to invest in SiMa.ai and the team led by Rangasayee at this pivotal time in the wider adoption of machine learning,” said Victor Hwang, managing director and co-head of MSD Growth. “To unlock the power of machine learning’s advanced capabilities, the embedded edge industry needs an iconic, forward-thinking, industry disruptive company like SiMa.ai that enables customers to bring their innovative products to market.”

“We have participated in every round of funding since SiMa.ai’s initial round,” said Mike Dauber, general partner of Amplify Partners. “SiMa.ai has continued to gain our vote of confidence with their incredible team-building, execution and progress. We strongly believe they will bring a new product category to the embedded edge market with their purpose-built MLSoC Platform.”

Recently, SiMa.ai claimed it had started shipping the industry’s first purpose-built software-centric MLSoC Platform for the embedded edge market with first-time-tape-out commercial success.