SUMMARY
- FermionIC Design is set to secure $6 million in funding from an investment round, led by Lucky Investment Managers’ Ashish Kacholia and his team.
- The startup has already secured $2.5 million from the initial investment round.
- The additional funding will be utilized to broaden its product range in India and explore opportunities in international markets.
Fabless semiconductor startup FermionIC Design, focused on developing integrated circuits for high-speed wireline and RF communication, is set to secure $6 million (Rs 50 crore) in funding from an investment round, led by Lucky Investment Managers’ Ashish Kacholia and his team.
The company’s founder, Gautam Kumar Singh has shared that the startup has already secured $2.5 million from the initial investment round. The additional funding will be utilized to broaden its product range in India and explore opportunities in international markets.
Singh mentioned, “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.”
Established in June 2020 by Gautam Kumar Singh and Prasun Kali Bhattacharyya, FermionIC Design specializes in creating integrated chips for applications in defense, radio frequency communication, satellite communication, and weather monitoring.
The company excels in SERDES IP and Hybrid Beamformer IC technologies. SERDES IP is designed to enhance data transfer speed between devices, crucial for rapid communication, while Hybrid Beamformer IC technology improves the capability to communicate with multiple devices at once, vital for technologies such as 5G and radar systems.
“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,” said Kacholia.
This funding round represents FermionIC Design’s initial venture into external investment. Previously, the company has been self-funded and has been recognized for its efforts, being selected for the government’s Semicon India Future Design DLI scheme. In 2022, the company was chosen for the Qualcomm Semiconductor Mentorship Program, where it received a grant prize of an undisclosed amount.
India’s semiconductor market is projected to surpass $150 billion by 2030, growing at a 24% CAGR from its current value of $33 billion in 2023 as per Inc42. Other Indian companies operating in the domain include Saankhya Labs, Signalchip, and Terminus Circuits.
The Indian government has been actively supporting the semiconductor industry, with initiatives like the Semicon India program allocating over Rs 76,000 crore to offer incentives to companies within this sector.
