Indian Startup Netrasemi Secures INR 10 Crore to Develop Edge AI Chips for IoT Devices

Indian Startup Netrasemi Secures Funding for Edge AI Chip Development

Netrasemi, a Thiruvananthapuram-based semiconductor startup, has successfully raised INR 10 crore (approximately $1.2 million) in a pre-Series A funding round led by Unicorn India Ventures. The company, founded in 2020 by Jyothis Indirabhai, Sreejith Varma, and Deepa Geetha, is focused on developing Edge AI system-on-chips (SoCs) for smart IoT products 1

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Funding Allocation and Product Development

The fresh capital will be primarily used for the fabrication of two machine learning SoC chips: Netra A2000 and Netra R1000. These chips are designed to enable advanced AI-based analytics in edge devices without relying on cloud processing, making IoT products smarter, more cost-effective, and responsive 2

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Netrasemi's Technology and Market Position

Netrasemi is positioning itself as a pioneer in the Indian semiconductor industry, developing what it claims to be the first AI/ML SoCs from India for intelligent edge devices. The company's domain-specific architecture (DSA) and in-house developed digital IPs form the core of their technology 1

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Jyothis Indirabhai, Co-founder of Netrasemi, stated, "Netrasemi family of chips will be the first AI/ML SoCs from India for intelligent edge devices, with a full array of digital IPs inhouse developed" 1

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Target Markets and Applications

The company's SoCs are aimed at various sectors, including:

1. Surveillance
2. Smart sensors
3. Smart infrastructure
4. Machine vision and Industry 4.0
5. Robotics
6. Drones
7. Autonomous vehicles 1

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Financial Outlook and Growth Projections

Netrasemi has reported strong revenue growth and profits of approximately $0.5 million from chip design and porting services for strategic partners. The company projects 150% growth in FY25 with the addition of IP revenue, and expects exponential growth starting FY27 when volume production of chips commences 2

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India's Semiconductor Industry Growth

This development aligns with India's efforts to establish itself as a semiconductor hub. The government has approved five semiconductor plants under the India Semiconductor Mission, expected to attract investments worth INR 1.52 Lakh Crore 1

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The Indian semiconductor industry is projected to grow from $33 billion in 2023 to $150 billion by 2030, with over 100 semiconductor startups currently operating in the country 1

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Investor Perspective

Anil Joshi, Managing Partner at Unicorn India Ventures, expressed confidence in Netrasemi's potential, stating, "We believe Netrasemi will continue to sustain its momentum with its most powerful AI chip for edge devices and strengthen its position in this space" 2

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Conclusion

As Netrasemi moves forward with its ambitious plans, the company's success could play a significant role in advancing India's position in the global semiconductor and AI markets, particularly in the rapidly growing field of Edge AI for IoT devices.