India’s semiconductor startup scene is booming, with venture capitalists pouring in record investments, thanks to strong government support under the Ministry of Electronics and Information Technology. Programs like the Design Linked Incentive (DLI) Scheme and Chips to Startup (C2S) are fueling this growth.
A standout example is Netrasemi, a rising startup developing chips for smart vision, IoT systems, and CCTV applications. It recently secured a notable $12.38 million in venture capital, showcasing the potential of India’s chip innovation ecosystem.
Union Minister Ashwini Vaishnaw hailed the progress, attributing the momentum to India’s design talent and the strategic backing from the India Semiconductor Mission, which is fostering a climate for innovation-driven development.
Since the inception of the DLI Scheme in 2022, the Indian government has allocated $27.08 million to support 22 design projects, with these initiatives collectively valued at nearly $79.86 million. These startups haven’t just relied on public funds—VC investors have already backed them with an additional $43.98 million.
Prominent among these success stories are Mindgrove Technologies, which raised $9.83 million for CCTV chip development, and Fermionic Design, which garnered $5.79 million to create chips for satellite communications.
In another push to empower innovation, over 72 companies have been granted access to state-of-the-art chip design software tools, giving them a competitive edge. Already, five startups have progressed to testing their designs with international manufacturing partners, marking a significant step in India’s journey to becoming a global semiconductor hub.
