iVP Semiconductor, founded by P. Raja Manickam a veteran of Texas Instruments, is embarking on a mission to localize semiconductor chip production, bolstering Indian companies' ability to compete on a global scale and accelerating product development cycles. This ambitious endeavor will leverage innovation and cutting-edge technology to design chips tailored specifically for the Indian market. The company's inaugural test facility spanning 20,000 square feet will be established in Chennai, marking the first of several planned facilities. This strategic move aims to establish a robust semiconductor ecosystem within India, fostering technological independence and paving the way for future advancements in the industry.
India is rapidly establishing itself as a key market in the electronics and automotive sectors. Forecasts indicate that India's consumer electronics and appliances market will rank among the world's top five by 2025. However, this growth is accompanied by numerous challenges. Addressing these obstacles is the introduction of iVP Semiconductors, aiming to tackle these industry challenges head-on.
“As a startup, iVP Semi recognises the challenges faced by Indian semiconductor startups that aimed for the global market from the outset. Many struggled to survive due to the time and financial resources required to compete with established giants. Hence, our mission is to localise semiconductor chip production, empowering Indian companies to improve product development cycles and achieve greater technological autonomy,” says Raja Manickam, Founder & CEO, iVP Semi during the launch event.
The company plans to establish chip design centers in Chennai and Bangalore, and will license product intellectual property (IP) from Taiwan, Japan, and the US. The company's strategy involves owning the intellectual property, while outsourcing the manufacturing, assembly, testing, and packaging of the chips, following the procurement of $5 million in pre-Series A funding. iVP Semiconductors' operations at its Chennai facility are set to commence in October 2024.Through strategic development, iVP Semi aims to achieve revenue ranging between $70 million and $100 million over the next two to three years. Additionally, iVP Semiconductor will adopt an "asset-lite" approach.
