[Funding alert] Technology-focused VC fund Inflexor Ventures invests in deep-tech startup Steradian Semiconductors
A SEBI registered early stage technology-focused VC fund, Inflexor Technology Fund on Wednesday announced its first investment in a deep tech startup Steradian Semiconductors that is developing 4D imaging radar solutions for Autonomous Vehicles with their patented and proprietary IP.
This investment will be used by Steradian Semiconductors to accelerate product development and scale up in the global markets.
Commenting on the investment, Venkat Vallabhaneni, Managing Partner, Inflexor Ventures said,
“Steradian team comes with experience in building and scaling technology products with global companies. As the world moves towards higher levels of automation, we see their technology play a vital role in the automotive industry. With our focus on backing companies with deep tech and technology IP that can scale globally from India, we feel Steradian is poised for its next stage of growth and we are excited to partner with them.”
A sector-agnostic fund, Inflexor Ventures that invests in Pre-Series A to Series A+stages in B2B/Enterprise startups in September had marked the first close at Rs 230 crore. The fund has a target corpus of Rs 500 crore (plus green-shoe option of Rs 200 crore) which it plans to raise over the next few months from domestic and international investors.
Founded in 2016 by Gireesh Rajendran, Ashish Lachhwani, Apu Sivadas, Rakesh Kumar and Alok Joshi, Steradian Semiconductors develops high-resolution 4D imaging radar solution which can be deployed in automobiles as well as for traffic monitoring.
“Steradian has opened a new world of safe autonomous driving systems with its innovative and commercially viable radar solution. Our customers and commercial partners have validated the solution on-field in trials and endorsed the capability of our high-resolution imaging radar technology. We are also excited to partner with Inflexor which shares our vision and will bring lot of experience and value add to us," added Gireesh Rajendran, Co-founder and CEO at Steradian Semiconductors Pvt Ltd.