Fabless semiconductor startup iVP Semiconductor Pvt Ltd has plans to set up a production test facility as part of its drive to produce semiconductor chips in the domestic market, a top official said.
The company has also secured USD 5 million in a pre-series A Funding for its expansion plans, Co-founder and CEO Raja Manickam said.
An industry veteran, Manickam said his aspiration was to first serve the clients in the domestic market and later expand the company to become a 'global brand.'
"Today domestic semiconductor industry is being served by several global companies. I want to serve the industry as an Indian company. iVP Semiconductor is an Indian company and it would become a global brand." he said.
The company would focus on power sector including renewable energy, solar industry, wind energy.
"We are going to be competitors to existing players with most of them being global companies," he said.
To a query, he said the company would set up a production test facility in Chen
