Azimuth AI Secures Seed Funding for Sustainable SoCs
- ByStartupStory | March 8, 2024
Custom silicon products startup Azimuth AI has successfully raised seed funding from AUM Ventures, an India-focused VC fund based in Abu Dhabi Global Market (ADGM). The undisclosed investment will fuel the development of Azimuth AI’s first-generation system-on-chip (SoC) for a prominent global original equipment manufacturer (OEM) specializing in smart city solutions.
The forthcoming first-gen SoC, currently in development, boasts a distinct IP and methodology geared towards delivering superior performance, feature enhancements, and increased efficiency compared to existing solutions. Founded in 2022 by Praveen Yasarapu and Sridevi Badiga, Azimuth AI focuses on creating purpose-built SoCs for smart cities, electric vehicles (EVs), 2/3-wheeler vehicles, and other edge computing applications.
Praveen Yasarapu, Co-founder of Azimuth AI, stated, “Our mission is to develop cutting-edge SoCs that not only champion environmental sustainability but also facilitate affordable access to computing solutions in cost-challenged markets, with a focus on embedded computing silicon products.”
Azimuth AI claims a track record of designing and delivering over 30 silicon products to markets while working with leading semiconductor companies in Silicon Valley.
Chetan Mehta, Founding Partner of AUM Ventures, emphasized the semiconductor industry’s rapid growth in India and the potential of custom silicon chips to address diverse market and application needs.
In 2022, AUM Ventures launched its maiden VC fund for Indian startups, aiming to bring Indian portfolio companies to the UAE and assist in setting up regional bases at ADGM. The fund also focuses on investing in nascent sectors garnering investor interest.
India’s semiconductor ecosystem has witnessed significant growth, supported by governmental initiatives backing fabless chip manufacturing startups, semiconductor design companies, and packaging firms. Notably, the Union Cabinet approved the establishment of the country’s first semiconductor fab on February 29, a collaboration between the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corp (PSMC).
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