Investors and companies alike are trying to take advantage of the developmental gains in AI to make leaps in technologies like robotics and autonomous vehicles – what is now being called “physical AI”. This means that some of the billions of dollars that AI startups receive are starting to go toward the suppliers who work behind the scenes to make these technologies real.
The latest case is from Ethernovia, which is on Tuesday announced $90 million Series B. The San Jose-based company makes Ethernet-based processors that help collect data from sensors scattered around a system — like in an autonomous vehicle — and move it instantly to a central computer.
The company already had backing from Porsche SE and Qualcomm Ventures, but the round was led by Maverick Silicon – a AI-centric Fund created in 2024 by hedge fund Maverick Capital. This was the first sector-specific fund that Maverick Capital launched in its 30-year history. It’s this type of attention and funding that we’ll likely see more of this year as investors look to promote more under-the-radar companies like Ethernovia.
