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Semiconductor startup Netrasemi raises Rs 10 Cr in pre-Series A

EntrackrEntrackr · 7m ago
Semiconductor startup Netrasemi raises Rs 10 Cr in pre-Series A
Medial

Kerala-based semiconductor startup Netrasemi has raised Rs 10 crore in its pre-Series A round from Unicorn India Ventures to build Edge AI for IoT products. The proceeds will be used raised will be used for the fabrication of two ML SoC chips (Netra A2000 and Netra R1000). Founded in 2020 by Jyothis Indirabhai, Sreejith Varma, and Deepa Geetha, Netrasemi is an Indian Edge AI semiconductor technology company building system-on-chips (SOC) to enable the new-age need for optimal computing for smart IoT products. The company claims to bring a family of AI/ML capable SOCs and reference designs for solving over 100 AI/ML use cases making Edge AI product development efficient, simple, and economical. These chips go into motherboards that make these products capable of doing advanced AI-based analytics without the need for sending the data to servers and the cloud hence, making them smart, cheap, responsive and independent. In the last 12 months, the company has received encouraging responses from large OEMs across various countries operating in medical, telecom, and industrial segments. According to the company, it has started generating strong revenue growth and profits of around $0.75 million from chip design and porting service for strategy partners, which will grow further in FY25 to 150% with IP revenue and will grow starting FY27 once volume production of chips starts.

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ProcMart raises Rs 25 Cr in pre-Series B round

EntrackrEntrackr · 1y ago
ProcMart raises Rs 25 Cr in pre-Series B round
Medial

Business-to-business procurement marketplace ProcMart has raised Rs 25 crore ($3 million) in its pre-Series B round from Sixth Sense Ventures India. The board at ProcMart has issued 5,933 pre-series B CCPS at an issue price of Rs 42,127 each to raise Rs 25 crore, its regulatory filing soured from the RoC shows. Previously, the startup had raised $10 million in its Series A round led by Sixth Sense Ventures in November 2022. Following the fresh proceeds, Sixth Sense became the largest external stakeholder with 30% stake in ProcMart while its founder and chief executive officer Anish Popli will command 41.76% of the company. As per the startup data intelligence platform TheKredible, the latest capital injection has been done at a valuation, which is Rs 275 crore. Founded in 2015 by Anish Popli, the IndiaMART-backed startup provides supply chain solutions and infrastructure to businesses including services such as purchase order management, contract administration, master data management, e-catalogue management and market intelligence. ProcMart’s clients include Colgate, Mondelez, Harman, and Vedanta. It has 13 offices in India and one in Malaysia. The company also launched white-label in 2022 to provide construction equipment. The Noida-based company recently announced a strategic collaboration with local vendors in the biomass briquettes and pellets manufacturing sector. It competes with Lightspeed Ventures-backed Udaan in the B2B supply chain space.

Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round

EntrackrEntrackr · 1m ago
Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round
Medial

Snippets Astrophel Aerospace raises Rs 6.84 Cr in pre-seed round Deep-tech space startup Astrophel Aerospace has raised Rs 6.84 crore (around $800K) in a pre-seed funding round from a group of angel investors and venture firms. The Pune-based startup will use the funds to build a prototype of its reusable semi-cryogenic launch vehicle and to expand in-house R&D efforts focused on building advanced missile-grade guidance and propulsion systems. Founded in 2022 by Suyash Bafna, Astrophel Aerospace is building cost-effective, reusable launch vehicles specifically tailored for small satellites. It operates on a vertically integrated model designing, engineering, and testing propulsion systems in-house. The firm’s Astra C1 series rockets are powered by in-house developed semi-cryogenic engines and built using a combination of 3D printing and modular assembly. Astrophel claims to be among a limited number of Indian private companies to have successfully test-fired a semi-cryogenic engine, and achieved this with just Rs 6 lakh in internal resources and no external funding before this round. It is now aiming for a working, reusable prototype within the next 2–3 years. The startup is building its flagship Potentia C1U engine using modular design and manufacturing principles adapted from the automotive sector. Astrophel has also signed an MoU with ISRO to support co-development and testing. In India, its key competitors include Skyroot Aerospace, Agnikul Cosmos, Bellatrix Aerospace and Pixxel among others.

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