Karnataka Government's semiconductor focus fund makes its first investment
image credit: Shutter StockKarnataka 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. It has recently made its first in Bangalore based Graphene Semiconductor Services Pvt. Ltd. This startup offers product development and sustenance services to global customers in the Semiconductor, Embedded Products and soft-IP business space. The company was started in the middle of 2013 and has recently raised INR 4.95 crores in a first phase funding from the KARSEMVEN Fund. The funds have been put in because of Graphene's approach to semiconductor technology in product realization, from concept, to product deployment.
Founded by Vilas Bhade along with 5 other industry professionals, the leadership team of Graphene has more than 150+ years of experience in the semiconductor industry with vast knowledge in driving execution management. Prior to Graphene, Vilas has held various senior management positions with Wipro, Infosys, Sasken, PMC-Sierra, Philips and Insilica; with Wipro being the foundation of his professional career. Looking at the gaps in the industry, Vilas and the team decided to startup. The company's services include:
- IC design services
- Software development & testing services
- System design services
- IP enablement services
- Talent empowerment services
“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 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. 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,” said Jayakumar A.R., CEO KARSEMVEN Fund.
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).
