Introduction
Netrasemi’s, a Kerala-based semiconductor startup specializing in Edge AI solutions for IoT products, has successfully raised ₹10 crore in a Pre-Series A funding round led by Unicorn India Ventures.
The funds will support the fabrication of two AI/ML System-on-Chip (SoC) solutions, Netra A2000 and Netra R1000, solidifying the company’s role in India’s growing semiconductor ecosystem.
Key Highlights
- Investment Details: Unicorn India Ventures led a ₹10 crore Pre-Series A funding round to accelerate Netrasemi’s chip fabrication efforts.
- Technological Innovation: Netrasemi’s AI/ML-capable SoCs enable over 100 edge AI use cases.
- Strategic Growth: The startup has generated revenues of $0.75M in FY24 from chip design and porting services, with plans for exponential growth by FY27.
- Market Opportunities: Focused on surveillance, robotics, smart infrastructure, and autonomous vehicles.
- Government Backing: Supported by India’s MeitY (DLI and C2S programs) and accelerators like Taiwan’s TTA.
About Netrasemi
Founded in 2020 by Jyothis Indirabhai, Sreejith Varma, and Deepa Geetha, Netrasemi aims to redefine the semiconductor landscape in India.
The company’s mission is to develop efficient, cost-effective Edge AI solutions for IoT devices. With a strong team of 61 professionals, Netrasemi is creating AI/ML-capable SoCs that make IoT devices smarter, faster, and more independent by eliminating the need for constant cloud connectivity.
Core Products:
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Netra A2000 and Netra R1000: High-performance ML-capable SoCs
The Netra A2000 and Netra R1000 are advanced System-on-Chips (SoCs) designed specifically for machine learning (ML) applications. Their key features include:
- High Performance:
- These SoCs are built to handle intensive ML workloads such as image recognition, natural language processing, and real-time analytics.
- They likely include specialized processing units such as GPUs, TPUs, or custom AI accelerators to enhance computation.
- Energy Efficiency:
- Optimized for minimal power consumption, they are suitable for applications where energy is constrained, such as edge computing, IoT devices, or portable ML devices.
- Affordability:
- Despite their high-performance capabilities, these chips are designed to be cost-effective, making them accessible for a broader range of users, from startups to large-scale enterprises.
Graph-Stream Hardware Acceleration Architecture
The Graph-Stream Hardware Acceleration Architecture is a patented design aimed at optimizing AI/ML operations. It likely offers the following advantages:
- Specialized for Graph-Based Models:
- Most modern AI/ML algorithms, especially neural networks, can be represented as computational graphs. This architecture directly accelerates these graph-based computations, improving efficiency.
- Enhanced Data Flow:
- The architecture may use techniques like pipelining or parallel processing to ensure smooth and rapid data movement across processing units.
- Custom AI/ML Optimizations:
- Tailored for common operations in ML models, such as matrix multiplications, convolution operations, and gradient computations, it reduces latency and boosts throughput.
- Applications:
- This architecture could be crucial in tasks requiring real-time performance, like autonomous vehicles, robotics, and financial modeling.
In summary, the Netra A2000 and Netra R1000 SoCs, coupled with the Graph-Stream Hardware Acceleration Architecture, offer a potent combination of performance, energy efficiency, and cost-effectiveness for accelerating AI/ML workloads across diverse industries.
Revenue and Growth
- High Performance:
Over the past year, Netrasemi has gained significant traction, securing partnerships with large OEMs in the medical, telecom, and industrial sectors across multiple countries.
The company reported $0.75 million in revenue from chip design services in FY24, with projections of 150% growth in FY25 through intellectual property (IP) revenue.
By FY27, with the commencement of volume chip production, revenues are expected to grow exponentially.
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Industry Demand and Target Markets
The global surge in demand for Edge AI technologies has positioned Netrasemi as a key player in the industry. Its SoCs cater to various applications, including:
- Surveillance: Advanced analytics for security cameras and privacy-focused solutions.
- Smart Infrastructure: Enhancing efficiency in urban developments.
- Industrial IoT: Enabling machine vision and Industry 4.0 innovations.
- Robotics and Drones: Supporting autonomous operations.
- Autonomous Vehicles: Providing intelligent systems for vehicle navigation.
Support from Unicorn India Ventures
Unicorn India Ventures, an early-stage technology-focused venture fund, has shown strong confidence in Netrasemi’s potential. Anil Joshi, Managing Partner at Unicorn India Ventures, remarked:
“There are attractive opportunities in the Edge AI market, and Netrasemi is well-positioned to capitalize on this space. Their progress in AI chip design is remarkable, and this funding will enable them to scale effectively.”
Unicorn India Ventures has a history of nurturing innovative startups, including SmartCoin, Gamerji, and Genrobotics.
The firm’s latest Fund III aims to invest in sectors like climate tech, agritech, spacetech, and semiconductors, with a focus on global SaaS and digital platforms.
Government and International Support
Netrasemi’s development aligns with India’s semiconductor ambitions, supported by the Ministry of Electronics and Information Technology (MeitY) under the DLI and C2S programs.
Additionally, accelerators like Taiwan’s TTA have bolstered the startup’s international exposure and technical capabilities.
“Our AI/ML SoCs are the first from India for intelligent edge devices. This funding is a crucial step in our journey to fuel continued expansion and success.”
Jyothis Indirabhai, Co-founder of Netrasem
Future Outlook
With increasing global focus on Edge AI and IoT, Netrasemi’s innovative approach and robust product pipeline position it as a leader in the field. The company’s vision to simplify AI/ML use cases for edge devices resonates with the growing demand for efficient and cost-effective semiconductor solutions.
About Unicorn India Ventures
Founded in 2016, Unicorn India Ventures is a prominent venture capital firm with a strong track record in early-stage investments. With successful funds like Fund I and II, Unicorn has consistently delivered stellar returns to its investors. The firm’s latest Fund III aims to build a diverse portfolio of startups in emerging sectors, including semiconductors.
Conclusion
Netrasemi’s ₹10 crore Pre-Series A funding marks a pivotal moment in India’s semiconductor journey. By focusing on Edge AI for IoT, the startup is not only addressing critical market needs but also contributing to India’s goal of becoming a global semiconductor hub.
With strong backing from Unicorn India Ventures and government programs, Netrasemi is poised for exponential growth in the years to come.
