We are discussing Semiconductor Startup iVP Semi Secured $5 Million in its Pre-series A Funding Round to set up a Fabless Chip Company in India:
iVP Semi is a fabless semiconductor startup that designs, manufactures, outsources production, and sells semiconductor chips to other companies. The startup raised $5 million in its pre-series A funding round from existing and new investors. The company plans to use these fresh proceeds to scale its operations, marketing, R&D, and advertising while meeting general corporate expenses.
The company intends to use a portion of this investment to expand its network and establish chip design centers in various parts of India, including Bengaluru and Chennai. The firm will license product IP from Japan, Taiwan, and the US. The semiconductor startup is also working with the government of Tamil Nadu to establish around 20,000 sq. ft. production testing units in Chennai.
This facility will be fully operational by October of this year. This production unit in Chennai will have design, testing, and certification capabilities. The company also plans to set up another testing unit in South India. The startup follows the approach of other tech giants, including Broadcom, Nvidia, and Qualcomm, focusing on R&D while providing outsourced production to other companies.
The startup will focus on serving clients in sectors of renewable energy, the automotive industry, and the electric vehicles market. The founder of iVP, Raja Manickam, mentioned that the startup aims to localize semiconductor chip production and improve product development cycles to empower Indian startups. This approach will help in achieving technological autonomy. The investment shows investors’ trust in the firm’s market potential and business model. This fresh capital will help the company develop innovative solutions for market expansion and enhance the chips’ performance capability.
iVP Semi aims to revolutionize the semiconductor market in India and establish a local presence of fabless chips. The development came when Indian Semiconductor chip production rose with rising GenAI electronics and adoption. The secretary of MeitY, S Krishnan, highlighted that iVP Semi plays a vital role in creating demand and filling the gap in OSAT’s manufacturing capacity. Inc42 reported. The company aims for revenue of $70 million to $100 million in the next two years.
Conclusion
Ivp Semi is a semiconductor startup that secured 5 million USD from new and existing investors in its pre-series A funding round. The company intends to use this fresh capital to scale its production and marketing while expanding its network. The startup plans to establish chip design centers with full operational capabilities in various parts of India, including Bengaluru and Chennai.
The company will receive the licensed product IP from Japan, Taiwan, and the US. This semiconductor startup also partnered with the government of Tamil Nadu to establish around 20,000 sq. ft. production testing units in Chennai. The company is also planning to establish another testing unit in South India. iVP Semi expects a revenue of $70 million to $100 million in two or three years.
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