Powered by MeitY schemes, Indian chip startups have attracted over ₹3.8 billion in VC funding, with ₹2.34 billion in government support accelerating innovation across 22 projects.
India’s semiconductor design ecosystem is witnessing substantial growth, according to an official update from the Ministry of Electronics and Information Technology (MeitY).
Backed by government initiatives such as the Design Linked Incentive (DLI) Scheme and the Chips to Startup (C2S) Programme, MeitY highlighted that since the scheme was launched in 2022, MeitY has committed ₹2.34 billion to 22 chip design projects, which together have a total project cost of ₹6.9 billion. These chips are aimed at use in sectors such as automotive, satellites, mobile communications, and consumer electronics.
The momentum is also visible in private investment. So far, these startups have attracted over ₹3.8 billion from venture capital firms. Notable examples include Mindgrove Technologies, which raised ₹850 million for its CCTV chip design, and Fermionic Design, which secured ₹500 million for satellite communication chips.
The Ministry especially mentioned about Netrasemi, one of the promising startups supported under the DLI scheme, which has raised ₹1.07 billion in venture capital funding. The company is developing chips for smart vision systems, CCTV cameras, and IoT applications: key areas of growth in India’s expanding electronics market.
Other startups, such as Morphing Machines, InCore Semiconductors, and BigEndian Semiconductors, are making rapid progress toward production.
In addition, over 72 firms have been granted access to advanced chip design software, enabling faster innovation and product development.
With this growing synergy between policy support and investor interest, MeitY’s vision of turning India into a global chip design powerhouse is steadily becoming a reality.
