Monday, July 22, 2024
HomeFunding India-Based iVP Semi Raises $5 Million in Pre-Series A Round Funding

[FUNDING NEWS] India-Based iVP Semi Raises $5 Million in Pre-Series A Round Funding

Raja Manickam founded iVP Semi, a fabless semiconductor firm that empowers Indian system companies through localized chip fabrication, building on his pioneering semiconductor engineering work.

Raja Manickam founded iVP Semi, a fabless semiconductor firm that empowers Indian system companies through localized chip fabrication, building on his pioneering semiconductor engineering work.

iVP Semi helps chip makers and suppliers compete locally and globally by driving innovation and development with strong system design skills. The company received $5M in pre-Series A capital to expand into India, grow operations, establish testing facilities, and launch marketing.

For this plan, iVP Semi is opening semiconductor design centers in Chennai and Bangalore and licensing product IP from Taiwan, Japan, and the US. As an asset-lite fabless company, chip and module testing will be done internally. iVP Semi and the Tamil Nadu government are building a 20,000-square-foot production test facility in Chennai. Soon, another South Indian locale will host the second test facility.

Read also- India-Based Arya.ag To Secures $29 Million In Pre Series D Round Funding

The Chennai factory will have in-house design and testing capabilities, providing high-quality goods and excellent post-delivery support. It will also test discrete and power modules and provide reliability and safety certification to decrease iVP Semi customers’ time to market. In India, iVP Semi will focus on renewables, EVs, and cars. The company wants $70 million to $100 million in sales in two to three years.

Commenting on the launch of iVP Semi, Raja Manickam, Founder & CEO, iVP Semi, said “As a startup, iVP Semi recognizes the challenges faced by Indian semiconductor startups that aimed for the global market from the outset. Many struggled to survive due to the time and financial resources required to compete with established giants. Hence, our mission is to localize semiconductor chip production, empowering Indian companies to improve product development cycles and achieve greater technological autonomy. This approach not only ensures tighter control over the chip supply chain but also fosters an environment where semiconductor ecosystem partners are encouraged to establish a local presence. We envision a ripple effect where technology solutions developed by Indian companies will address global challenges, benefiting everyone.”

McKinsey anticipated a decade of growth and a trillion-dollar semiconductor business by 2030 earlier this year, while India Electronics and Semiconductor Association (IESA) expects India to expand to $100 billion by 2030.

Read also- India-Based Purplle Raises $120 Million In funding

India is becoming a major market for electronics, automobiles, especially EVs, and technological knowledge, stressing the need to improve the Indian ecosystem. However, manufacturing complexity, dominating global competitors with a large market share, lack of production-grade technology, high capital costs, and others continue to limit India’s self-sufficiency.

About iVP Semi

iVP Semi localizes semiconductor chip fabrication to help Indian enterprises enhance product development cycles and technological autonomy. This technique tightens chip supply chain control and encourages semiconductor ecosystem partners to locate locally. We expect Indian IT solutions to solve global problems, benefiting everyone.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular