Invest: Netrasemi raised Rs.107cr from making chips
Netrasemi, a startup supported under the government’s chip design scheme, has received Venture Capital (VC) investment of Rs.107 crore for making chips for smart vision, CCTV cameras, and Internet of Things (IoT) applications.
Applauding the investment, Minister for Electronics and IT Ashwini Vaishnaw said on 24 July, “India has significant design capabilities. With India Semiconductor Mission supporting Design in India, the success of Netrasemi will encourage other Indian startups https://www.bseindia.com/.”
He pointed out that the semiconductor design ecosystem in India is getting stronger day by day. Startups supported under the Ministry of Electronics and IT’s (MeitY) Design Linked Incentive (DLI) Scheme and Chips to Startup (C2S) Programme are now gaining significant traction https://www.nseindia.com/.
Since the launch of the DLI Scheme in 2022, the Government had committed the support of Rs.234 crore for the chip design projects from 22 companies with a total project cost of Rs.690 crore https://www.meity.gov.in/ .
These chips will be used in CCTV cameras, mobile networks, satellites, cars, smart devices among others https://ism.gov.in/.
These startups have together raised over Rs.380 crore from VC investors, said the Minister.
Further, 5 startups have already built and tested their chip designs with global chip manufacturers while more than 72 companies have been given access to advanced software tools to help them design chips https://www.semiconductorsociety.in/.
Vaishnaw noted that a Few other examples of startups getting backed through private investment.
These are:
Mindgrove Technologies (CCTV chip design) raised Rs.85 crore;
Fermionic Design (satellite communication chip) raised Rs.50 crore;
Morphing Machines, InCore Semiconductors, and BigEndian Semiconductors are progressing rapidly towards production stages;
In the spirit of becoming a ‘product nation’, the government is encouraging young companies to take bold steps in chip design, while private investors are now supporting them to grow and bring their chips to the market, he said. fiinews.com
