Bangalore, India, January 29, 2015: Graphene Semiconductor Services Pvt. Ltd. today said that it has received Rupees 4.95 crores in a first phase funding from the Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund) recognising the startup’s unique approach to semiconductor technology in product realization, from concept, to product deployment.
Graphene is the first company in the semiconductor 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, conceptualization 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 necessary capital and the fund operates predominantly in the state of Karnataka. Graphene is an example of our efforts in building the zeal of entrepreneurship,” 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).