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Semiconductors a bright spot in Dutch startup landscape: report

Economic Times

Economic Times · 1y ago

Semiconductors a bright spot in Dutch startup landscape: report

According to a report by Techleap, venture capital funding for Dutch chip startups reached €216 million ($234 million) in 2023, marking the fifth consecutive year of growth. The funding was bolstered by the increasing recognition of chip equipment maker ASML as Europe's largest tech firm. However, the report highlighted the challenges faced by Dutch startups in scaling up and securing additional funding compared to their counterparts in the United States, Britain, Germany, and France. The report recommended strategies such as attracting more pension fund investments, offering tax breaks to venture capital, and granting stock ownership to employees to enhance startup success in the Netherlands.

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NXP to double its India workforce to 6,000+ in five years

Economic Times

Economic Times · 10m ago

NXP to double its India workforce to 6,000+ in five years

Dutch chip manufacturing company NXP Semiconductors plans to double its workforce in India to over 6,000 employees within the next five years. The company also intends to invest $1 billion in research and development efforts in India, with a focus on hardware and software innovations, including a recent 5-nanometer chip launch for the automotive sector. Additionally, NXP Semiconductors aims to collaborate with Indian colleges to train and hire talent, particularly women, and expand its offerings to include complete system solutions by working directly with original equipment manufacturers.

e-bike startup VanMoof, unable to pay its bills, files for payment deferment in Holland

TechCrunch · 2y ago

e-bike startup VanMoof, unable to pay its bills, files for payment deferment in Holland

E-bike startup VanMoof company has applied to a local court for an official suspension of payment provision after running out of money. Is VanMoof about to go ‘poof’? According to a report in the Dutch publication NRC, VanMoof is not officially bankrupt. Read the article to know more from the source link below-

Peak XV-backed Bright Money raises $62 Mn

Entrackr

Entrackr · 1y ago

Peak XV-backed Bright Money raises $62 Mn

Bright Money, a Bengaluru and San Francisco-based consumer fintech startup, has raised $62 million in a Series B funding round. The round consists of $50 million debt from Encina Lender Finance and $12 million equity led by Alpha Wave, Hummingbird, and PeakXV. Bright Money offers debt management solutions and aims to reshape global retail banking using big data and AI. The funding will help the company cater to millennials, particularly in the US, and expand its product offerings. Bright Money previously raised $31 million in a Series A round in September 2021.

AI-focused manufacturing startup Bright Machines raises $106 million from Nvidia, others

Economic Times

Economic Times · 1y ago

AI-focused manufacturing startup Bright Machines raises $106 million from Nvidia, others

San Francisco-based startup Bright Machines has secured $106 million in a Series C funding round that included investors Nvidia and Microsoft. The company develops AI and machine learning software and equipment to automate manufacturing tasks. Bright Machines plans to use the funds to further its engineering efforts in robotics and computer vision, aiming to allow engineers to design products and remotely manufacture them using Bright Machines tools. The company also aims to make the manufacturing of AI server hardware more efficient by replacing manual labor with robots and software.

Agnit Semiconductors raises $3.5 million in seed round

Economic Times

Economic Times · 9m ago

Agnit Semiconductors raises $3.5 million in seed round

Bengaluru-based semiconductor startup Agnit Semiconductors has raised $3.5 million in a seed round led by 3one4 Capital and Zephyr Peacock, marking their first investment in India's semiconductor sector. The funds will be used to scale production and commercial operations. Agnit aims to expand its offerings into consumer electronics and electric two-wheelers. The company has secured a spot in the Gallium Nitride Ecosystem Enabling Centre and Incubator and earned recognition from the Government of Karnataka for its GaN semiconductor technology. Agnit has also signed an MoU with the Ministry of Defence for developing wireless transmitters.

Tata Electronics taps chip giant NXP to bag orders for fab, OSAT

Economic Times

Economic Times · 2m ago

Tata Electronics taps chip giant NXP to bag orders for fab, OSAT

Tata Electronics is negotiating with Dutch semiconductor giant NXP Semiconductors to onboard them as customers for its upcoming fab in Gujarat and OSAT facility in Assam. This partnership aims to produce high-performance compute chips and power management chips in India. Tata is also courting potential clients like Tesla and emphasizing supply chain resilience with the integration strategy. This move aligns with Tata’s recent collaborations and industry trends for diversification and strengthening semiconductor production capabilities in India.

30 Startups To Watch: Startups That Caught Our Eyes In October 2024

Inc42 · 8m ago

30 Startups To Watch: Startups That Caught Our Eyes In October 2024

In Q3 2024, Indian startups raised a record-breaking $3.4 billion in funding, more than double the amount raised in the same quarter last year. Deeptech and enterprise tech continue to dominate, but this edition of "30 Startups to Watch" also includes emerging sectors like semiconductors and D2C. The report, powered by Google Cloud, highlights the resilience and innovation of Indian startups in shaping the country's startup ecosystem.

Wipro ER&D division to grow by 30% in FY25

Livemint

Livemint · 1y ago

Wipro ER&D division to grow by 30% in FY25

Wipro's engineering research and development (ER&D) division is expected to grow by up to 30% in the ongoing fiscal year, becoming one of the bright spots for the company. The division, known as Wipro Engineering Edge, is projected to receive about $300 million in incremental business in FY25. It contributed nearly $1 billion, or 10% of Wipro's revenue in FY24. The growth in FY24 was primarily driven by the Americas region, and the upcoming growth is expected to be fueled by areas such as hardware, semiconductors, Industry 4.0, wireless networks, and cabling.

Chipmaker NXP forecasts quarterly revenue below estimates on macroeconomic concerns

Economic Times

Economic Times · 8m ago

Chipmaker NXP forecasts quarterly revenue below estimates on macroeconomic concerns

NXP Semiconductors NV, a Dutch chipmaker, has forecasted lower fourth-quarter revenue due to uncertain demand and macroeconomic weakness in Europe and the Americas. The company's shares fell by 5% after the announcement. NXP provides chips and technology for high-speed digital processing in various sectors, including automotive, manufacturing, telecommunications, and IoT. CEO Kurt Sievers cited strength in communication infrastructure, mobile, and automotive markets, but highlighted increasing macroeconomic weakness in the industrial and IoT market. NXP expects fourth-quarter revenue of around $3.10 billion, below analysts' estimates of $3.36 billion.

BigEndian Semiconductors raised $3 million in a funding round led by Vertex Ventures SEA & India

Economic Times

Economic Times · 10m ago

BigEndian Semiconductors raised $3 million in a funding round led by Vertex Ventures SEA & India

Bengaluru-based semiconductor startup, BigEndian Semiconductors, has secured $3 million in funding led by Vertex Ventures SEA & India. The company plans to use the funds to expand its team, boost R&D capabilities, and scale operations. BigEndian Semiconductors aims to develop homegrown semiconductor IP in India, with a focus on creating a "Make in India" chipset and launching its own surveillance system-on-chip (SoC) solution. The startup plans to initially target the Global South market before expanding into developed markets like Europe and the US. The investment is seen as an opportunity for India to become a global leader in semiconductors.

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