Zoho Corp Advances in Semiconductor Venture Amidst New Product Launches

Sridhar Vembu, Co-founder and CEO of Zoho Corp, announced that the company has submitted an application for its semiconductor venture to the government. Work is progressing on multiple aspects, including technology finalization and partnerships. The government will conduct a thorough evaluation. Zoho also launched a seller app and IoT platform.

Sridhar Vembu, Co-founder and CEO of Zoho Corp, announced on Wednesday that the semiconductor venture involving the company has filed its application with the government. A thorough evaluation of various aspects is currently underway.

Key areas like technology finalization and partnerships are being worked on, though Vembu noted it is 'too premature' to discuss specifics such as the project's final location.

'We have filed an application, and it is still pending,' he confirmed, adding that the government is highly motivated by India's semiconductor push but requires a detailed evaluation of the involved technology's viability and its market impact.

'So, it is a very exhaustive, critical evaluation...questions like the viability of partner, technology, market impact...these are complex technologies and therefore it takes time,' Vembu elaborated.

On the same day, Zoho unveiled Vikra, a seller app on the Open Network for Digital Commerce (ONDC) network, and Zoho IoT, a scalable low-code platform for custom IoT solutions, during the Zoholics India annual user conference. The company reported a 31% growth in its customer base in India for 2023.

(With inputs from agencies.)