Ethernovia raises $90 million as investors rush to fund ‘physical AI’

Investors and companies alike are trying to leverage developmental gains in artificial intelligence to make leaps in technologies such as robotics and self-driving vehicles — what is now referred to as “physical AI.” This means that some of the billions of dollars flowing into AI startups are starting to flow toward the suppliers doing the behind-the-scenes work to make these technologies a reality.

The latest case is Ethernovia, which appeared on Tuesday Announce Series B of $90 million. The San Jose-based company makes Ethernet-based processors that help collect data from sensors scattered around the system — like in an autonomous car — and quickly transmit it to a central computer.

The company was already backed by Porsche SE and Qualcomm Ventures, but this round was led by Maverick Silicon – which is Focused on artificial intelligence The fund was created in 2024 by hedge fund Maverick Capital. This was the first sector-specific fund launched by Maverick Capital in its 30-year history. It’s this kind of interest and funding that we’re likely to see more of this year as investors look to boost more under-the-radar companies like Ethernovia.