iVP Semi to Boost Indian Chip Production with $5M Funding 

India-based Fabless semiconductor startup iVP Semi has announced plans to establish a production test facility to boost domestic chip production. The company, founded by semiconductor industry veteran and former CEO of Tata Electronics OSAT, Raja Manickam, has secured $5 million in pre-Series A funding to support its expansion efforts.

iVP Semi aims to empower Indian system companies through localized design and chip production. With the new funding, the company plans to scale its operations, set up testing facilities, and launch comprehensive marketing initiatives, which makes a crucial step towards enhancing India’s semiconductor startup scene. 

Raja Manickam, CEO of iVP Semiconductor, has expressed his aspiration for the company first to serve clients in the domestic market and eventually expand into a global brand. “Today, the domestic semiconductor industry is served by several global companies. I want to serve the industry as an Indian company. iVP Semiconductor is an Indian company that will become a global brand,” he stated. The company will focus on the power sector, including renewable energy, solar, and wind industries, positioning itself as a competitor to existing global players.

As part of its strategic expansion, iVP Semi is build chip design centers in Chennai and Bangalore and licensing product IPs from Taiwan, Japan, and the US. The company will establish a 20,000 sq ft production test facility in Chennai in collaboration with the Tamil Nadu State Government, which is expected to be operational by October 2024. 

The facility will cover the entire process from design to testing, ensuring high-quality products and exceptional post-delivery support. Additionally, a second test facility is planned for another location in South India, aimed at reducing time to market for iVP Semi’s customers.

Manickam emphasized the importance of creating product companies in India that can integrate chip design and manufacturing. Currently, this space is dominated by global players like SD Micro, Infineon, OnSemi, Nexperia, and Texas Instruments.

“Our mission is to improve product development cycles and achieve greater technological autonomy for Indian companies,” he stated.

The startup plans to buy chips from Taiwan, Japan, and Korea, with packaging to be done in India once local manufacturing facilities like Tata and CG Power commence operations. 

iVP Semiconductor Pvt Ltd. will use the $5 million raised through pre-Series A funding to expand its presence, scale operations, set up testing facilities, and enhance marketing efforts. 

In addition to focusing on the power sector, iVP Semi will also target other segments, such as electric two-wheelers, electric vehicle charging infrastructure, and the Internet of Things (IoT). 

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