In Its Second Semiconductor Bet, Sequoia India Infuses $3 Mn In InCore Semiconductors

In Its Second Semiconductor Bet, Sequoia India Infuses $3 Mn In InCore Semiconductors

SUMMARY

InCore Semiconductors is building RISC-V processor cores in India, enabling companies to build cutting-edge semiconductor solutions

MoS Rajeev Chandrasekhar said that Sequoia’s investment will encourage more investors to double down on the emerging opportunity in the semiconductor industry

Earlier this year, Sequoia invested in Mindgrove, an IIT Madras incubated semiconductor startup that designs innovative SoCs in the country

Sequoia Capital India on Friday (May 12) said it invested $3 Mn in InCore Semiconductors, marking its second fund infusion in a semiconductor startup in the country.“Our vision is to make India a powerhouse in the RISC-V solution space, and we are proud to be part of a thriving startup ecosystem that is supported by both the government and venture capitalists like Sequoia Capital India,” Madhusudan added.“I would like to acknowledge the support of Sequoia Capital India for supporting the Indian startup ecosystem in the semiconductor design space with their investments in two important startups – InCore Semiconductors and Mindgrove. We hope this will encourage more investors to double down on this exciting and emerging opportunity,” he added.

The investment was announced at the ‘SemiCon India FutureDesign Roadshow’ event led by the Minister of State for Electronics & IT Rajeev Chandrasekhar at IIT-Delhi. The roadshow, organised by the Ministry of Electronics and Information Technology (MeitY), was a part of the Centre’s initiative to promote the development of next-generation semiconductor designers in India, gradually making the country become a semiconductor powerhouse.

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