India’s semiconductor surge: Top 10 startups to watch

India’s semiconductor industry is at the cusp of a revolution, driven by the nation’s growing emphasis on technological advancement and self-reliance. The past decade has seen a surge in emerging tech startups, fostering breakthroughs in various sectors such as electric vehicles, space tech, and artificial intelligence.

Among these advancements, the semiconductor ecosystem has gained remarkable momentum, thanks to governmental initiatives supporting innovation and local manufacturing.

The Indian government’s proactive approach, from the Semicon India programme to the India Semiconductor Mission (ISM), has provided a strong foundation for the growth of fabless chip startups, semiconductor design firms, and packaging companies. With the introduction of the Design Linked Incentive (DLI) Scheme and the 'Make in India' initiative, the country is taking significant steps to reduce reliance on imported components, aiming to become a global hub for semiconductor manufacturing.

Agreements with global giants like AMD, Qualcomm, and Micron, combined with growing venture capital interest in the domestic semiconductor space, have set the stage for India's technological prowess. The nation's focus on building its semiconductor ecosystem dates back to the 1970s, and today, a new generation of startups is paving the way for an industry boom that is expected to reach $150 billion by 2030.

In this article, we present a list of 10 emerging semiconductor startups that are playing a crucial role in powering India’s technological growth.

1. AGNIT Semiconductors

Established: 2019

Headquarters: Bengaluru

Specialisation: Gallium Nitride (GaN) technology

AGNIT Semiconductors focuses on Gallium Nitride (GaN) technology, which has rapidly gained traction due to its efficiency and power. The startup designs and produces GaN wafers and electronic components tailored for high-performance radio-frequency applications, primarily in the defence and telecommunications sectors. In 2023, the Ministry of Defence partnered with AGNIT to develop advanced GaN semiconductors, aiming to integrate them into next-generation defence applications such as radars and electronic warfare jammers. AGNIT’s technology stems from over 15 years of R&D at the Indian Institute of Science, Bengaluru, giving it a competitive edge in GaN-based innovations for strategic sectors.

2. Aura Semiconductor

Established: 2011

Headquarters: Bengaluru

Specialisation: Mixed-signal ICs, timing solutions, IoT

Aura Semiconductor, founded by industry veteran Srinath Sridharan, has emerged as a leading fabless semiconductor company offering mixed-signal integrated circuit (IC) solutions. Aura’s products cover diverse markets, including IoT radios, enterprise timing solutions, and portable audio systems. Known for its innovations in precision timing ICs, Aura Semiconductor attracted the attention of SiTime Corporation, a Nasdaq-listed company, which acquired its timing-related products. The startup has expanded globally with offices in China, the UK, and the US, and counts Celesta Capital as one of its key investors. Aura Semiconductor’s innovations are crucial for the evolution of timing solutions in IoT and communication technologies.

3. Blueberry Semiconductors

Established: 2017

Headquarters: Bengaluru

Specialisation: VLSI, ASIC/SoC, embedded engineering

Blueberry Semiconductors is a rapidly growing startup providing advanced semiconductor solutions with a focus on very large-scale integration (VLSI), application-specific integrated circuits (ASIC), and system-on-chips (SoC). With expertise in fields like artificial intelligence (AI), 5G, and industrial IoT, Blueberry collaborates with a wide range of industries including aerospace, defence, and automotive. The company’s clientele includes prominent names such as Intel, Mahindra, and Microsemi. Blueberry has established a reputation for delivering cutting-edge solutions that are instrumental in driving technological innovations across multiple sectors.

4. CalligoTech

Established: 2017

Headquarters: Bengaluru

Specialisation: High-performance computing, AI, Big Data

Calligo Technologies is at the forefront of high-performance computing (HPC) and AI. The startup's groundbreaking development, TUNGA, an 8-core Posit-enabled RISC-V CPU, was introduced in June 2024 and represents a significant advancement in energy-efficient processing. Calligo's use of Posit arithmetic (an alternative to floating-point arithmetic) enables faster and more precise computations, ideal for AI and big data applications. CalligoTech is a beneficiary of the central government’s DLI scheme, which helps fund its innovative projects. The company aims to apply its technology to sectors such as HPC, AI/ML, and scientific computing, enhancing energy efficiency and scalability across industries.

5. Chipspirit

Established: 2018

Headquarters: Bengaluru

Specialisation: ASIC design, hardware security solutions

Chipspirit provides specialised application-specific integrated circuit (ASIC) design services, focusing on both turnkey projects and custom hardware security solutions. One of its flagship products, Abhed-1, is a dedicated encryption device that ensures secure data transactions over public networks. The startup won the iDEX challenge in 2019, and since then, has co-developed secure hardware solutions for the Indian defence sector under the Make in India initiative. Chipspirit is also a beneficiary of the DLI scheme, which supports its mission to develop and deploy secure hardware for a wide range of defence and public applications.

6. Cientra

Established: 2015

Headquarters: Bengaluru

Specialisation: VLSI, FPGA, SoC, 5G, automotive

Cientra is an end-to-end semiconductor solutions provider specialising in VLSI, ASIC, FPGA, and system-on-chip (SoC) design. The startup serves telecom, automotive, and embedded software markets, focusing on advanced technologies like 5G, IoT, and autonomous vehicles. Cientra has established itself internationally, with offices in India, the USA, and Germany. Recently, Cientra collaborated with Amantya Technologies to launch a vendor-agnostic 5G IoT aggregator solution, which they claim to be the world’s first. The company is driving innovation in semiconductor design, contributing to both consumer electronics and advanced automotive systems.

7. FermionIC Design

Established: 2020

Headquarters: Bengaluru

Specialisation: IC design for communication, RF, and high-speed wireline

FermionIC Design, a fabless semiconductor startup, is making strides in the field of high-speed communication ICs. The startup’s innovative product portfolio includes beamformer core chips in the silicon-germanium (SiGe) process, which enable millimetre-wave communication, particularly for sat-com and radar applications. Its low-noise ICs and high-speed SerDes products are designed for global and Indian OEM customers in sectors like aerospace and telecommunications. FermionIC is also one of the first startups selected under India’s DLI scheme, positioning it as a key player in India’s growing semiconductor ecosystem.

8. InCore Semiconductors

Established: 2018

Headquarters: IIT Madras Research Park, Chennai

Specialisation: RISC-V processor cores

InCore Semiconductors is dedicated to building 5th-generation RISC-V processor cores, contributing to India’s goal of becoming a leader in RISC-V architecture. Founded by a team of experts from IIT Madras, InCore aims to produce high-performance and area/power-optimised embedded processors for various applications. The startup recently raised $3 million in funding from Peak XV Partners. InCore’s technology is enabling innovation in areas ranging from high-performance application processors to embedded systems, making India a significant player in the global processor ecosystem.

9. Mindgrove Technologies

Established: 2021

Headquarters: Chennai

Specialisation: System-on-Chip (SoC) design, IoT

Mindgrove Technologies is developing secure IoT chips using the indigenous RISC-V Shakti cores, incubated at IIT Madras. The startup’s inaugural chip, Secure IoT, targets consumer electronics like TVs, air conditioners, and washing machines. With built-in security accelerators and random number generators, these chips are designed to power a new generation of connected devices. In 2023, Mindgrove raised $2.32 million in seed funding, led by Peak XV Partners. Mindgrove is positioning itself as a leader in secure IoT solutions, contributing to India’s growing semiconductor ecosystem.

10. Saankhya Labs

Established: 2007

Headquarters: Bengaluru

Specialisation: Fabless semiconductor solutions, satellite and 5G communications

Saankhya Labs is one of India’s earliest fabless semiconductor companies and has pioneered innovations in satellite communication and 5G New Radio. The company’s development of software-defined radios (SDR) has revolutionised the way radios convert signals for a variety of applications, including satellite communication, smart TVs, and rural broadband connectivity. In February 2024, the Ministry of Electronics and Information Technology (MeitY) approved Saankhya Labs’ proposal under the DLI scheme to develop a 5G SoC for telecom infrastructure. Saankhya Labs has raised approximately $18 million in funding and continues to be a key player in India’s evolving semiconductor landscape.

These startups are not only shaping India’s semiconductor future but also positioning the country as a global technology leader. Their innovations in chip design, communication systems, and AI-powered solutions are poised to drive India’s technological growth in the coming decade. Keep an eye on these companies as they continue to push boundaries and contribute to the rise of India's semiconductor ecosystem.