iVP Semi, a fabless semiconductor startup, announced it will be setting up chip design centers in Chennai and Bangalore as well as licensing product IP from Taiwan, Japan and the US.
Raja Manickam, Founder and CEO of iVP Semi, said: “Our mission is to localize semiconductor chip production, empowering Indian companies to improve product development cycles and achieve greater technological autonomy.”
Raja Manickam did not reveal its investment and hiring plans in India.
iVP Semi is working with the Tamil Nadu state government to set up a production test facility of 20,000 sq ft in Chennai. iVP Semi’s second test facility will come up shortly in another location in South India.
The Chennai facility will be operational by October 2024, and will be equipped with in-house capabilities from design to testing, ensuring high quality products along with exceptional post-delivery support.
iVP Semi’s test facility in Chennai will feature discreet and power modules testing along with reliability and safety certification centers to reduce time to market for iVP Semi customers.
iVP Semi will predominantly service the local renewables, EV, and automotive industries. The company aims to achieve a revenue of $70 million- $100 million in the next two to three years.
S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY), Government of India, said: “Government is helping industries to create the ecosystem to build semiconductors. iVP Semi plays an important role in creating demand to fill up the manufacturing capacity in wafer fab and OSAT.”
India Electronics and Semiconductor Association (IESA) estimates the India will become a $100 billion market by 2030.
iVP Semi aims to drive innovation and development with strong system design competence to help chip manufacturers and suppliers, enabling Indian companies to compete both in India and globally.
iVP Semi has secured $5 million in pre- Series A funding. iVP Semi aims to use the VC funding to build presence, scale operations, set up testing facilities and activate marketing initiatives.
TelecomLead.com News Desk