Raja Manickam has launched iVP Semi, a fabless semiconductor startup aimed at bolstering Indian system companies through localized chip production. With $5 million secured in pre-Series A funding, iVP Semi plans to expand operations and establish a robust presence in India. The company will set up chip design centers in Chennai and Bangalore, alongside licensing product IP from Taiwan, Japan, and the US.
iVP Semi’s strategy includes setting up a 20,000 sq. ft. production test facility in Chennai in collaboration with the State Government of Tamil Nadu, slated to be fully operational by October 2024. This facility will support design-to-testing capabilities, focusing on sectors such as Renewables, EV, and Automotive industries. A second test facility in South India is also in the pipeline.
Raja Manickam, Founder & CEO of iVP Semi, highlighted the company’s mission to localize semiconductor chip production in India, enabling faster product development cycles and greater technological autonomy for Indian companies. This initiative aims to strengthen the semiconductor ecosystem locally, fostering innovation and addressing global challenges.
S. Krishnan, Secretary of Ministry of Electronics and Information Technology (MeitY), emphasized India’s potential in the semiconductor industry and congratulated iVP Semi on its efforts to bolster domestic manufacturing capacity. He underscored the government’s support in building a conducive ecosystem for semiconductor growth in India.
iVP Semi, headquartered in Chennai with global offices in Singapore, Taiwan, and the US, aims to achieve revenue targets of $70 million to $100 million within the next few years. The company’s focus on quality assurance and supply chain efficiency underscores its commitment to delivering high-performance semiconductor solutions tailored for Indian and global markets.