iVP Semi Secures $5M to Revolutionize Indian Semiconductor Industry

Raja Manickam has launched iVP Semi, a fabless semiconductor startup, with $5M in pre-series A funding. iVP Semi aims to innovate and localize chip production in India, targeting a revenue of $70M to $100M within 3 to 4 years. The company will set up chip design centers and production test facilities in Chennai and South India.

Chennai, Tamil Nadu, India (NewsVoir) – Raja Manickam has launched iVP Semi, a fabless semiconductor startup, securing $5 million in pre-series A funding. The startup aims to localize chip production in India, with plans to set up production test facilities in Chennai and another location in South India. iVP Semi targets a revenue of $70 million to $100 million in the next 3-4 years.

The strategy includes establishing chip design centers in Chennai and Bangalore, and licensing product IP from Taiwan, Japan, and the US. Partnering with the State Government of Tamil Nadu, iVP Semi plans to launch a 20,000 sq. ft. production test facility in Chennai by October 2024, equipped with in-house capabilities from design to testing.

Commenting on the launch, Raja Manickam, Founder & CEO, emphasized the aim of providing localized semiconductor chip production. S. Krishnan, Secretary of MeitY, praised iVP Semi's role in boosting India's semiconductor manufacturing capabilities. The global semiconductor market is projected to become a trillion-dollar industry by 2030, with India expected to grow to a $100 billion market.

(With inputs from agencies.)