Investors and companies alike are trying to leverage developmental gains in AI to make leaps in technologies like robotics and autonomous vehicles — what’s being referred to now as “Physical AI.” That means some of the billions of dollars flowing to AI startups is starting to spill towards suppliers doing behind-the-scenes work to make these technologies real.
The latest case is Ethernovia, which on Tuesday announced a $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 quickly move it to a central computer.
The company was already backed by Porsche SE and Qualcomm Ventures, but this round was led by Maverick Silicon — an AI-focused fund created in 2024 by hedge fund Maverick Capital. It was the first sector-specific fund that Maverick Capital launched in its 30-year history. It’s that kind of attention and funding that we’ll likely see more of this year as investors look to boost more under-the-radar companies like Ethernovia.
