Backed by bold government initiatives and the DLI scheme, India is seeing its semiconductor revolution with homegrown startups driving innovation in AI, IoT, 5G, and more. Here are 21 of them, initially enlisted by Inc42.
From 1976 to 2024, India has come a long way in terms of its semiconductor ecosystem, beginning with the establishment of the Semiconductor Laboratory in Mohali, Punjab, under the leadership of Prime Minister Indira Gandhi.
With several incentive schemes and a ₹760-billion budget planned back in 2021, semiconductor projects, India aims to build a resilient domestic semiconductor ecosystem.
The year 2024 has been very eventful for the industry. With India Semiconductor Mission’s expansion under the Semicon India Programme, several big-budget projects gained approval, such as Tata Electronics’ ₹915.26 billion semiconductor fab in Gujarat and a ₹271.2 billion OSAT facility in Assam.
But most importantly, the country has made significant strides with a growing number of homegrown startups leading the charge. These innovative companies are redefining the horizons of the tech industry, especially in the fields of artificial intelligence (AI), Internet of Things (IoT), 5G, and autonomous systems.
A recent report by Inc42 highlighted some of the most promising Indian semiconductor startups, which are revolutionising the sector and driving the nation’s quest for technological independence.
AGNIT Semiconductors
Founded in 2019, AGNIT is a Bengaluru-based company focusing on Gallium Nitride (GaN) technology. Specialising in high-frequency applications for defence and telecommunications, AGNIT has secured notable contracts, including one with the Ministry of Defence for advanced semiconductor designs. In October 2024, the startup raised $3.5 million in seed funding.
Aura Semiconductor
Aurasemi, based in Bengaluru, has been designing mixed-signal integrated circuit (IC) solutions since 2011. Its expertise covers a range of markets, including IoT, enterprise timing, and portable audio. Recently, it made headlines when Nasdaq-listed SiTime Corporation acquired its timing-related products, further solidifying Aura’s reputation in the semiconductor field.
Blueberry Semiconductors
Blueberry, founded in 2017, is a leading VLSI (Very Large-Scale Integration) startup that works on cutting-edge solutions in embedded product engineering, machine learning (ML), and industrial IoT. Based in Bengaluru, the company delivers high-tech solutions to clients in aerospace, automotive, and defence, with notable partners like Intel and Mahindra.
CalligoTech
CalligoTech, again based in Bengaluru, is making waves with its Posit-enabled RISC-V CPU, TUNGA. This energy-efficient design targets high-performance computing and AI applications, setting CalligoTech apart as a future-focused startup in the semiconductor space. The company is also a beneficiary the Indian government’s Design-Linked Incentive (DLI) scheme.
Chipspirit
Chipspirit, established in 2018, is a services provider based in Bengaluru, specialising in application specific integrated circuit (ASIC) design and customisable hardware security solutions. Its secure hardware platform, Abhed-1, offers offline encryption for sensitive data transactions, a key offering for the defence sector. The startup has been recognised as a beneficiary of the DLI scheme.
Cientra
Founded in 2015, Cientra focuses on VLSI, ASIC, FPGA, and system-on-chip (SoC) design solutions for telecom, automotive, and embedded software markets. With a global footprint in India, the USA, and Germany, Cientra’s world-first 5G IoT aggregator solution and its acquisition by Accenture in 2024 have placed it at the forefront of India’s semiconductor revolution.
FermionIC Design
Launched in 2020, FermionIC is developing high-speed wireline and RF communication ICs. Its focus on X-band millimetre-wave communications for satellite and radar systems makes it a vital player in India’s semiconductor ecosystem. In 2024, the company raised $6 million, continuing to gain traction in both domestic and international markets.
InCore Semiconductors
Specialising in RISC/RISC-V processors, InCore is working to establish India as a leader in this high-performance processor space. The startup, founded in 2018, raised $3 million in 2023 and aims to automate the design process for processors and SoCs, competing with global giants like ARM and SiFive.
On the occasion of securing the DLI scheme grant, the startup revealed some of its future plans to EFY, “We plan to utilise this grant for our next project — our Dolomite core series, which will target Cortex A-55 in performance and can be used in entry-level smartphones, high-end IP cameras, edge-AI devices, advanced driver assistance systems (ADAS), avionics, networking, and high-performance wearables.”
Mindgrove Technologies
Based in Chennai, Mindgrove Technologies is focused on designing and producing SoCs using RISC-V Shakti cores. With $8 million raised in 2024, the startup is making significant strides in the consumer electronics space, including chips for IoT devices like TVs and air conditioners. It is also a beneficiary of the DLI scheme.
Morphing Machines
Morphing Machines, founded in 2005, develops innovative IP products and solutions with its patented REDEFINE platform. Specialising in domain-specific architectures (DSAs) for sectors such as aerospace and telecom, Morphing Machines aims to accelerate Big Data and AI applications. It secured $2.76 million in seed funding in 2024, underscoring its growth potential.
Netrasemi
Founded in 2020, Netrasemi is revolutionising Edge AI with its advanced SOCs designed for IoT applications. The startup has developed a power-efficient deep-neural AI acceleration core and has already raised ₹100 million in 2024. Netrasemi is a DLI scheme beneficiary too.
Oakter
Oakter, a leading original device manufacturer (ODM) based in Noida, designs smart devices and collaborated with companies like Paytm and Amazon. The startup shifted its focus to contract manufacturing in 2019, fulfilling orders from major players like Sony and Syska. It continues to innovate with smart plugs and electric vehicle charging solutions.
RRP Electronics
Founded in 2024, RRP Electronics has launched Maharashtra’s first semiconductor manufacturing OSAT/ATMP facility. The company is also forming strategic alliances with global tech firms to enhance its semiconductor capabilities, making it a significant emerging player in the space.
Saankhya Labs
Established in 2007, Saankhya Labs is a fabless semiconductor company known for its software-defined radio chipsets. The Bengaluru-based firm is a pioneer in satellite communications and 5G infrastructure. Recently, Saankhya was approved for the government’s DLI scheme to develop SoCs for 5G equipment.
Sensesemi
Sensesemi, founded in 2014, develops AI-powered semiconductors for industrial IoT applications. With its flagship product SenseSoC, the company aims to revolutionise healthcare, automotive, and smart appliances by embedding AI directly into chips for real-time decision-making. It is also a DLI scheme beneficiary.
Signoff Semiconductors
A leader in VLSI design services, Signoff Semiconductors provides custom ASIC and FPGA solutions for industries including AI, ML, and automotive. Established in 2015, Signoff has expanded internationally, serving clients in the US, Canada, and India, and has contributed significantly to semiconductor innovation.
Silectric Semiconductor Manufacturing
Silectric, a Zoho venture founded in 2024, is making a splash in the semiconductor manufacturing space. The company is setting up a cutting-edge silicon carbide fabrication facility near Mysuru, representing a significant investment in India’s semiconductor ecosystem.
Silizium Circuits
Founded in 2020, Silizium Circuits is focused on developing indigenous RF IPs for 5G, IoT, and smart mobility applications. The startup’s goal is to replace imported RF IPs with its own solutions by 2025 and become the largest exporter of analog and RF IPs from India by 2030.
Terminus Circuits
Terminus Circuits, established in 2010, designs high-speed serial links for data transmission across applications like AI, 5G, and Big Data. The startup’s partnerships with major global companies, including Taiwan Semiconductor, have positioned it as a key player in the semiconductor sector.
VASBEAM
Specialising in electronically steered antenna design, VASBEAM has developed a core beamforming IC product line used in radars, satellite systems, and 5G communications. The startup has received significant government support and is on track to become a leader in its field.
Vervesemi
A fabless semiconductor company, Vervesemi focuses on ASICs for sensors and wireless devices. Founded in 2017, it has made a significant impact in energy, 4G/5G, and medical sectors. With over 25 patents and government backing, Vervesemi is a rising star in the semiconductor space.
Read more: InCore Semiconductors Secures DLI Scheme Grant For Next-Gen Processor Cores
