India’s fabless chip company, iVP Semiconductor, aims for revenue of $70-100M in 3-4 years has secured $5M funding and partnered with Tamil Nadu government to build a 20,000 sq.ft. Test facility in Chennai.
Fabless semiconductor startup iVP Semiconductor Pvt Ltd aims to generate $70-100 million over the next 3-4 years. The company secures $5 million through pre-Series A funding to expand operations and set up a 20,000 sq. ft. production test facility in Chennai, with further plans for a second facility in South India. iVP Semiconductor focuses on local chip design and production, establishing design centres in Chennai and Bengaluru and licensing product IPs from Taiwan, Japan, and the US. The company is also working closely with the Tamil Nadu government to support domestic technology innovation and help Indian companies compete globally.
The Chennai facility, set to be fully operational by October 2024, will be a testament to iVP Semiconductor’s unwavering commitment to quality. Equipped with in-house capabilities from design to testing, the facility will ensure the production of high-quality products and exceptional post-delivery support. It will also feature discreet and power module testing along with reliability and safety certification centres to reduce time to market for iVP Semi customers.
Founder and CEO of iVP Semiconductor, Raja Manickam, emphasised on the powerful vision of localising semiconductor chip production to empower Indian companies. He adds that this approach will not only improve product development cycles and achieves greater technological autonomy but also inspires a new era of innovation in the Indian semiconductor industry.
