Graphene Semiconductor gets 4.95 crores in funding from Karnataka Govt Semiconductor focus Fund
Graphene Semiconductor Services Pvt. Ltd. today said that it has received Rupees 4.95 crores in a first phase funding from the Karnataka Semicondcutor Venture Capital Fund (KARSEMVEN Fund) recognising the startup's unique approach to semiconductor technology in product realization, from concept, to product deployment.
- (1888PressRelease) January 30, 2015 - Bangalore, India - Graphene is the first company in the seminconductor space to receive the backing of a governmental backed Venture Capital Fund. The SEBI-registered VC Fund chose Graphene for its differentiated focus in semiconductor technology and end-to-end product development along with its leadership excellence. Together, the leadership team of Graphene has more than 150+ years of experience in the semiconductor industry with vast knowledge in driving execution management.
"To get a validation from a governmental authority is a huge win for everyone at Graphene. The backing reiterates our strong services and solutions in the Semiconductor, Embedded Products and soft-IP business space. We're the only startup company to offer a complete end-to-end solution from product realization, conceptualisation to deploying the product and following up on sustainability.We're hoping to work closely with KARSEMVEN in the future as we scale our operations and expand our offerings," said Vilas Bhade, CEO Graphene Semiconductor.
Graphene currently employs 120 people and has a market presence in India, US and Japan. In just one year of its operations, it has positioned itelf as the top 25 percent of design services companies and as per projections, aims to enter the top 10 percent in the next year. The company is focusing on Communication, automotive, industrial and storage space in India as it looks to ramp up its offerings by assuring quality, predictability, efficiency and productivity.
"We were confident investing in Graphene once we saw the technological prowess in play. We're also open to providing additional funding for Graphene if needed, further emphasiszing our stance on the company's offerings and stellar business model. The company has the right ingredients of leadership and technology to climb new heights. At KARSEMVEN, we look to bolster new-age entrepreneurs by providing them with necessarry capital and the fund operates predominantly in the state of Karnataka. Graphene is an example of our efforts in building the zeal of entreprenuership," said Jayakumar A.R., CEO KARSEMVEN Fund.
Graphene has a business engagement with most of the Top 20 Fabless and IDM Semiconductor companies. The company hopes to build an eco-system of service offerings that meets the demands of the three drivers of business in - Industry, (building products for end-users). Technology (building Intellectual property for emerging products) and Academia (building a talented engineering workforce).
About KARSEMVEN Fund:
Karnataka Semicondcutor Venture Capital Fund (KARSEMVEN Fund) is a SEBI registered Venture Capital Fund launched during the FY 2014-15 with target corpus of Rs.96.15 crore. The Fund proposes to undertake investments in units catering to Semiconductor, Electronics System Design & Manufacturing (ESDM), Embedded Systems and such other allied sectors within the State of Karnataka.
About Graphene Semiconductors:
Graphene Semiconductors is a rapidly growing company offering product development and sustenance services to global customers in the Semiconductor, Embedded Products and soft-IP business space.Founded by well-known veterans in semiconductor industry with multiple years of experience in engineering services sector, the company is on a mission to be the premier organization in offering an eco-system of service offerings that fulfil the needs of all business under one roof. www.graphsemi.com.
For additional details please contact
Adithya Venkatesan
Gutenberg Communications
+91 9481174420
adithya ( @ ) gutenbergpr dot com.
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