India has been emphasizing technical advancement and made-in-India schemes. The country has noticed increasing technology and semiconductor startups in the past years. The Government of India recently announced the Semicon India Programme. The government allotted Rs 76,000 crore in funds to provide incentive support to companies working in silicon semiconductor fabs, compound semiconductor fabs, display fabs, and semiconductor packaging and design. These funds will focus on the semiconductor economy and private sector-based research and innovation at the commercial scale.
The Indian startups achieved a remarkable achievement in 2023 with the launch of several new semiconductor startups. The government is launching several schemes to help startups scale up their operations by providing financial support and mentorship programs. According to the reports, the Indian semiconductor market reported 33 billion USD in 2023. inc42 mentioned in a report that this market is expected to grow at a CAGR of 24 percent and cross the 150 billion USD mark in the next six years. Last year, the India Semiconductor Mission scheme was launched to build a semiconductor and display ecosystem that enables the country to emerge as a global hub for electronics design and manufacturing.
Mindgrove technologies
Mindgrove Technology is a manufacturing company that develops and designs system-on-chips. The startup uses advanced technologies to provide chips that can be used across various sectors including automotive, defense, and consumer electronics. The startup has secured over 2.35 million USD across multiple funding rounds since its inception in 2021, including fresh capital raised during its seed funding round. The company has investors including Peak XV Partners, Speciale Invest, and Whiteboard Capital. The semiconductor startup faces competition from other companies in the same segment such as Intel, and Cavium Network.
Oakter
The startup manufactures electronic smart devices like Paytm’s revolutionary soundboxes. The company offers solutions in various fields including IoT, EV charge points, consumer electronics, sound, and audio. The startup uses advanced technologies to provide quality smart home devices and white-label IoT products for other brands. The company has secured around $567k across multiple funding rounds. The company has investors like India Quotient and competes with startups like Dixon Technologies, Flex, and Huaqin.
Blueberry semiconductor
Blueberry Semiconductor is a leading VLSI startup that provides solutions in SoC. The company offers services like embedded product engineering supported by IoT, Artificial intelligence, and Machine Learning. The startup has partners including Mahindra, Intel, Microsemi, and SanDisk. allows users to possess space assets by providing launch and space solutions. The company offers technical and advanced projects across the industry varying from aerospace, defense, and AI to RAM and automation. Blueberry Semiconductor faces competition from other companies in the same market segment.
CalligoTech
Calligo Technologies provides a platform with high-performance computing and high-performance storage solutions. The startup serves segments like Big Data, artificial intelligence, and Machine Learning The company claims that its flagship product TUNGA has an energy-efficient design that results in lower power consumption and is scalable to various ranges of applications for AI and HPC. The semiconductor startup uses cutting-edge technologies and artificial intelligence tools to provide innovative solutions. The startup secured $118k during its seed funding round led by KITVEN and UST. Calligo Technologies competes with Altair and other companies in the same segment.
Morphing Machines
The fabless semiconductor startup Morphing Machine offers IP Products and solutions. The startup provides embedded process SoC and products such as task parallel MIMD systems. The company offers an SoC platform, a compute node with 4 crores and 512 KB on-chip memory. The startup has raised over 2.86 million across two funding rounds to date, including 2.7 million USD raised during its seed funding round. The company competes with startups including SambaNova Systems, SiFive, and Graphcore.
Cientra
Cientra is a semiconductor company that provides VLSI, FPGS, SOCs, telecom, automotive, and embedded software solutions. This startup designs solutions such as design verification, register-transfer level design, physical design, and layout offerings. The company uses cutting-edge technologies and offers innovative semiconductor solutions. The startup has offices in India, Germany, and the USA. The company faces competition from other companies like Accenture, Deloitte, and Info Objects.
Incore semiconductors
Customized processor IP core manufacturer InCore Semiconductors is one of the leading semiconductor companies. The startup is working on the 5th generation RISC processor core in India. The startup offers power management, MSME sensors, industrial RTOS, and Linux systems. The company secured $3 million in its seed funding round from Peak XV partners to expand its services and aim for market expansion. The startup faces competition from other IP Core manufacturers such as AlphaWave, CEVA, and VeriSilicon.
NetraSemi
NetraSemi develops and manufactures Artificial Intelligence-based computing products, accelerator chips, and SoCs. The platform operates across IoT development applications. The company works in market segments like surveillance, smart infrastructure, smart sensors, drones, robotics, and autonomous vehicles. The startup has secured around 1.02 million USD in several funding rounds since its inception, including $975k raised from MediMicroChip Labs and other investors in 2023. The company faces competition from Preferred Infrastructure, Cerebras systems, and Untether AI.
Saankhya Labs
This semiconductor startup supplies software-defined demodulation IC solutions for universal digital TV and other broadcast media. The company also manufactures integrated chips and other components for various satellites. The startup claims to have developed the first production software-defined Radio chipsets to convert radio signals into electronic signals and vice versa. The company has raised around 18.6 million USD in funding across multiple rounds. The company has investors including Intel, GM Ventures, and Nasscom. This startup competes with companies like Tsinghua Unigroup, and more.
Conclusion:
The Indian semicon industry has been growing rapidly for the past few years. These startups have raised millions of dollars over the past few years. The government of India has been launching several schemes in the past few years including funding programs and initiatives schemes to promote the Indian semicon startup ecosystem.
The government is focused on making Indian startups grow and compete in the global market. The government of India allocated Rs 26,000 crore venture capital fund focused on private and small research and innovation companies. The budget is to increase the focus on the Indian semicon economy. The scheme aims to boost emerging startups in the rapidly growing semiconductor industry.
The government recently announced its Semicon India program with Rs 76,000 crore in funds to provide incentive support to companies working in silicon semiconductor fabs, compound semiconductor fabs, and display fabs. The program is focused on developing a robust, sustainable, and self-reliant semiconductor manufacturing ecosystem in India. The growth and profit from startups will help India solidify its position in the global industry.
