Investors and companies alike are trying to capitalize on the benefits of AI development to make leaps in technologies like robotics and autonomous vehicles — what are now being called “Physical AI.” That means some of the billions of dollars flowing into AI startups are starting to spill over to the suppliers who do the work behind the scenes to make the technology a reality.
The latest case is Ethernovia, which was on Tuesday declare $90 million Series B. The San Jose-based company makes Ethernet-based processors that help collect data from sensors scattered throughout the system – like in autonomous vehicles – and quickly transfer it to a central computer.
The company has been backed by Porsche SE and Qualcomm Ventures, but this round is led by Maverick Silicon – an independent AI-focused fund created in 2024 by hedge fund Maverick Capital. This is the first sector-specific fund that Maverick Capital has launched in its 30-year history. That’s the kind of attention and funding we’ll see this year as investors look to expand into under-the-radar companies like Ethernovia.