FermionIC Design is looking to raise $6 Mn in an investment round to be led by Ashish Kacholia and his associates to expand its IC product offerings
The startup specialises in advanced technologies like SERDES IP and Hybrid Beamformer ICs for high-speed wireline and RF communications, with applications in defence, satellite communication and more.
With its first external funding round completed, FermionIC Design aims to leverage India's growing semiconductor market, expected to reach $150 Bn by 2030, while benefiting from government initiatives like the Semicon India programme.
FermionIC Design, a fabless semiconductor startup developing ICs for high-speed wireline and RF communication market, will be raising $6 Mn (INR 50 Cr) in an investment round to be led by Lucky Investment Managers’ Ashish Kacholia and his associates.
The company’s founder Gautam Kumar Singh told Inc42 that the startup has already raked in $2.5 Mn as part of the investment round. It plans to use the fresh capital to expand product portfolio in India and venture into overseas markets.
Founded in June 2020 by Gautam Kumar Singh and Prasun Kali Bhattacharyya, FermionIC Design FermionIC Design develops integrated chips for applications in defence, radio frequency communication, satellite communication and weather monitoring.
It specialises in SERDES IP and Hybrid Beamformer IC technologies. SERDES IP helps speed up data transfer between devices, crucial for fast communication while hybrid beamformer IC enhances the ability to communicate with multiple devices simultaneously, important for technologies like 5G and radar systems.
Kacholia said, “I and my associates are delighted to partner with young founders of FermionIC who are bringing cutting edge RF or Radio Frequency chips to the Indian defence and space establishments. These analog and mixed signal chips require deep tech skills which FermionIC has developed over time.”
Singh said, “At FermionIC, we are developing cutting-edge Radio Frequency and mixed-signal silicon platform ICs that address the advanced needs of AESA Radar systems, satcom, weather monitoring/forecasting, remote sensing, Maritime-Surveillance, telecom and consumer systems.”
This investment marks FermionIC Design’s first external funding round. The company was previously bootstrapped and has been selected for the government’s Semicon India Future Design DLI scheme. In 2022, the company was selected for the Qualcomm Semiconductor Mentorship Program and received a grant prize of an undisclosed amount.
India’s semiconductor market is expected to reach $150 Bn by 2030, according to the Inc42 report, growing at a 24% CAGR from $33 Bn in 2023. Other Indian companies in similar spaces include Saankhya Labs, Signalchip, and Terminus Circuits.
The Indian government has been actively promoting the semiconductor industry, with initiatives like the Semicon India programme allocating more than INR 76,000 Cr to provide incentive support to companies in this sector.
