Bengaluru based Graphene Semiconductor Services announced that it has received Rs. 49.5 million in a first phase funding from the Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund). The start-up firm appears to be receiving recognition from investors.
The SEBI-registered Karnataka Semiconductor Venture Capital Fund invested in the company after identifying Graphene’s unique approach to semiconductor technology in product realisation, from concept, to product deployment.
Getting funding from Karnataka Semiconductor Venture Capital Fund, Graphene has become the first company in the semiconductor space to receive the backing of a governmental backed Venture Capital Fund. Together, the leadership team of Graphene has more than 150 years of experience in the semiconductor industry with vast knowledge in driving execution management.
Vilas Bhade, CEO Graphene Semiconductor said in an official release, “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 start-up company to offer a complete end-to-end solution from product realisation, conceptualisation 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.”
Jayakumar A.R., CEO, KARSEMVEN Fund said, “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 emphasising 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.”
Founded in April 2013, Graphene currently has a market presence in India, US and Japan. The company is focusing on communication, automotive, industrial and storage space in India.
As part of the future plans, Graphene hopes to build an eco-system of service offerings that meet 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).