Latest news with #StepStoneGroup
Entrepreneur
6 days ago
- Business
- Entrepreneur
SiMa.ai Secures USD 85 Mn to Advance Physical AI Platform
Funding led by Maverick Capital with StepStone Group joining will drive global expansion and innovation for edge-based AI applications You're reading Entrepreneur India, an international franchise of Entrepreneur Media. has secured USD 85 million in a funding round led by Maverick Capital, with StepStone Group joining as a new investor. The round was oversubscribed and included participation from existing backers. With this latest infusion, the company's total funding has reached USD 355 million. The capital will be used to expand global presence and to accelerate the growth of its Physical AI platform. Plans include increasing investment in software innovation, enhancing go-to-market activities, strengthening customer support, and advancing its automotive development plans. "This new funding further validates our leadership in the Physical AI space and the growing demand for solutions that deliver top-tier performance per watt with exceptional ease of use," said Krishna Rangasayee, Founder and CEO of "With the support of both new and existing investors, we are moving quickly to extend our lead and meet demand across robotics, automotive, industrial automation, aerospace and defense, smart vision, and healthcare." Founded in 2018 by Rangasayee, is headquartered in San Jose, California. The company specialises in Physical AI computing, creating platforms that enable intelligent applications to operate efficiently at the edge. Its flagship Modalix platform offers high performance while maintaining strong energy efficiency, designed to make advanced AI capabilities accessible in industries such as robotics, automotive, aerospace, and industrial automation. offers a full-stack Physical AI solution through its ONE platform. This integrates purpose-built silicon with a software-first approach to simplify deployment and maximise performance. The platform includes Modalix, a second-generation multimodal MLSoC now available to customers, and Palette, a software suite that features both a software development kit and Edgematic, a no-code visual development tool. The system supports major machine learning frameworks, including vision models, transformers, and generative AI, within a single architecture. Andrew Homan, Managing Partner at Maverick Capital, said, " is redefining possibilities at the edge by combining advanced silicon with a software-centric approach to Physical AI. Their ability to deliver powerful, low-energy solutions with simple deployment positions them to lead in a rapidly growing market." John Avirett, Partner at StepStone Group, added, "As generative AI changes the data center, we see significant opportunity in AI at the edge. integrated solution, technical expertise, and customer adoption make it a leader in this space." With AI applications increasingly moving to the edge, aims to address the need for high performance, energy efficiency, and ease of use in real-world environments.
Irish Times
24-06-2025
- Business
- Irish Times
It's a great time to be a graduate in Ireland
For most graduates , the move from full-time education into a job and career is the biggest transition yet. It can be daunting. In times of recession, people often defer a move into the workplace, instead seeking refuge in a postgraduate course. But that won't be a problem for the class of 2025, because the employment outlook is very positive. 'Companies want graduates both to fill vacancies, yes, but they also want to hire them for all the benefits that they bring, including their knowledge, skills and their new ways of working and thinking,' says Meadhbh Costello, senior policy executive for education, skills and innovation policy with the Irish Business and Employers Confederation ( Ibec ). 'More than half of companies plan to take on graduates in the coming years.' Sam Dooley, country director of the StepStone Group Ireland, with responsibility for , says that the Irish economy has performed well this year. READ MORE 'Indicators show that the labour market remains at, or close to, full capacity,' he says. 'This strong economic backdrop positions the economy well to weather the new era of volatility ahead prompted by a more protectionist trading environment, and should minimise the potential impact of hiring disruption in the jobs market for graduates.' Dooley says demand for skilled graduates in the construction sector has continued to rise in the first half of 2025. 'This is due to a demand for specialised talent to meet Ireland's ambitious homebuilding and infrastructure targets,' he says. 'This isn't surprising, as, in 2024, jobs for grads in construction were up by 36 per cent. So far this year, the most in-demand graduate roles were in construction and related sectors, with graduate engineers the most in-demand, followed closely by graduate quantity surveyors. 'Rising in demand are positions for graduates in health and safety, and civil engineering. As the construction sector continues to evolve, with an increased focus on innovation and technology, it's clear that more professionals with technical and specialised skills will be needed to keep pace with this rapid growth in demand.' Joan McNaboe, who leads the skills and labour market research at Solas (the further education and training agency), says the economy is strong, even with the threat of US tariffs. Employers today are less focused on what degree a graduate has and more focused on the fact that they have a degree, proving that they can learn and grow, she says. 'We asked recruiters what they are looking for in graduates, and they mostly spoke of the 'soft skills': good communication, leadership, problem-solving and teamwork,' says McNaboe. 'They also want digital readiness, as digital literacy is needed across every sector.' Costello agrees that, while employers are reporting skills and staff shortages in a number of areas including healthcare and construction, they're perhaps even more focused on soft skills. 'Employers use different words to describe different skills but ultimately they want people who are resilient to a shifting workplace. We are constantly faced with different challenges and working with different people, so it's important to have emotional resilience and intelligence in order to adapt to these scenarios,' she says. Artificial intelligence is accelerating these labour market needs. 'With AI comes a need for an adaptable workforce who can respond to technical changes,' says McNaboe. Green skills – skills and abilities that help to reduce human impact on the environment – are also in high demand, McNaboe says. 'We produced a report which suggests that about 75 per cent of current jobs in Ireland require some level of green skills. The jobs that have the highest share of green skills are showing the most growth. Ireland has a lot of catching up to do in order to meet its 2030 environmental targets, so there will be opportunities across the economy.' Jobs in this area may include, for instance, engineers and construction professionals to build and maintain renewable technologies; energy trading jobs in business; and, simply, graduates with strong communication skills to help business and society understand new technologies and environmental projects or laws. Looking at the news, you'd be forgiven for thinking that companies have dumped any consideration of environmental, social and governance (ESG) issues. These typically entail companies investing in communities, charities or underrepresented minorities, including ensuring that people from financially disadvantaged backgrounds have opportunities to progress. This move away from ESG, however, is primarily a US phenomenon. Graduates still value it, and they want to work for companies with ethics and values that they share. 'The Trump effect is not showing up in Ireland, as we looked at vacancies in the area of corporate social responsibility, and they came up strongly as an area of skills need,' says McNaboe. She says that about three quarters of employers are facing some kind of skills gap, 'whether that's a struggle to fill particular vacancies or find someone with the right skill set, or perhaps where an existing employee does not have the skills to fill the job (which may have fundamentally changed due to technological developments'. 'There's lots of mobility in this tight labour market,' says McNaboe. Of course, graduate salaries are almost invariably at the lower end of the pay scale. They always have been, but in a time of inflation, with the cost of living biting and accommodation scarce, this is a real challenge for graduates. 'We are hearing this from employers,' says McNaboe. 'In regions outside the big cities, however, there are lots of opportunities in healthcare, teaching and many other industries, and these have the advantage of being slightly cheaper to live in.' Key stats and facts from the HEA National Employer Survey 2024 51 per cent of employers surveyed plan to recruit higher-education graduates over the coming years. 46 per cent of employers plan to recruit further education and training (FET) graduates in coming years. 77 per cent of employers have recruited staff in the past two years. 35 per cent of employers recruited higher-education graduates in the previous two years, with around one in four – 24 per cent – recruiting further-education graduates. Business and law, engineering and construction were the most popular disciplines from which both higher-education and FET graduates were recruited.
Yahoo
11-06-2025
- Business
- Yahoo
Term Sheet Next: Steven Lee, an SV Angel alum, launches Seven Stars with $40 million VC fund for seed and pre-seed AI startups
In 1993, Steven Lee's parents opened Seven Star Fashion, a textile shop in L.A.'s Koreatown, after immigrating from South Korea to build a new life. 'They were the first entrepreneurs I knew,' said Lee. 'They worked long hours, a classic immigrant story. They came here with basically nothing, and didn't know how to speak English. They didn't have a network—and they're a very big influence for what I do today.' Today, a very different Seven Star launches. Steven Lee has left his role as a partner at SV Angel to start his own firm, Seven Stars, which is debuting with an oversubscribed $40 million fund. Raised in just five weeks, the fund focuses on pre-seed and seed-stage investments in AI applications across both consumer and enterprise categories. Lee plans to back 35 to 45 companies per year. Limited partners include a university endowment and a pension fund—both undisclosed—as well as StepStone Group and Sapphire Partners. Nate Leung, Sapphire partner and OpenLP cofounder, said part of Lee's pitch was refreshingly simple: 'an outstanding track record from a highly respected firm.' SV Angel—founded by legendary VC Ron Conway—has a long history of early bets on companies like Google, Facebook, and Airbnb. Lee built his own reputation within that legacy, focusing on AI, and was involved in backing startups like ElevenLabs, Mercor, Captions, Reflection AI, and Skild AI, as well as personally investing in OpenAI. These early partnerships helped lay the foundation for his new firm. Hunter Somerville, partner at StepStone Group, pointed to Lee's 'extensive relationships and trusted reputation with leading AI companies' as another key strength. 'I've started to build this unique network, really understanding what these visionary AI founders need from their early investors,' Lee told Fortune. 'I really believe that AI is the equalizer for the 90%, and it's already transforming lives at a global scale. And it really starts with motivated founders who are building enduring companies, empowering individuals and other companies to thrive. And while AI's already benefiting 1 billion knowledge workers today—we're already seeing it in finance, law, marketing—I'm most excited about AI's impact on the next 8 billion people.' He's already invested in five companies since launching the fund, though he declined to name them. Lee's value-add strategy is highly focused: offering hands-on fundraising support, access to a curated advisory network, and help with hiring across all levels. 'It's not just helping with hiring early, with entry-level engineers, but helping and closing and sourcing for mid-level to senior-level executives,' said Lee. 'When you put those three things together, that's kind of the investor that I want to be. And I think that's very unique in this moment of time, especially as a lot of these first-time AI founders are navigating this really complex technology for the first time as well.' Influenced by his parents, Lee had always imagined starting something of his own one day. Despite working in AI (or perhaps because he works in AI), he believes success isn't just about the technology—it's also about the people behind it and the life experiences they bring. 'Building a company, or any kind of business is incredibly difficult,' said Lee. 'It takes a lot of courage, lots of sacrifices. Quite frankly, it takes a bit of luck as well. I always want to make sure I remember that, especially as I work with these next-generation AI founders. Because I also want this firm to be enduring, for it to outlive me … In good times and bad times, I want to remember that's what we're striving for. That it's generational. That Seven Star Fashion was the first generation.' And the new generation begins now. This story was originally featured on Sign in to access your portfolio
Bloomberg
28-05-2025
- Business
- Bloomberg
Nuclear Startup Radiant Raises $165 Million for Micro-Reactor
Radiant Industries Inc., a US nuclear startup, lined up $165 million in funding to complete its small reactor design. The Series C funding round was led by DCVC Management Co., and also included Giant Ventures Global and StepStone Group Inc., according to a statement. The El Segundo, California-based company said it now has raised $225 million to develop its 1-megawatt system.
Yahoo
24-05-2025
- Business
- Yahoo
StepStone Group Full Year 2025 Earnings: US$2.52 loss per share (vs US$0.92 profit in FY 2024)
Revenue: US$1.17b (up 65% from FY 2024). Net loss: US$179.6m (down by 409% from US$58.1m profit in FY 2024). US$2.52 loss per share (down from US$0.92 profit in FY 2024). We've discovered 2 warning signs about StepStone Group. View them for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Looking ahead, revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Capital Markets industry in the US. Performance of the American Capital Markets industry. The company's shares are down 1.4% from a week ago. What about risks? Every company has them, and we've spotted 2 warning signs for StepStone Group you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
