Semiconductor Startup Netrasemi Sees 6.6X Surge in Valuation Post Series A The Series A funding round was led by Zoho Corporation with participation from existing investor Unicorn India Ventures.
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Kerala based semiconductor startup Netrasemi has secured INR 107 crore in a Series A funding round led by Zoho Corporation with participation from existing investor Unicorn India Ventures.
Ferro alloys producer Maithan Alloys also joined the round. This marks the company's second fundraise in less than a year after it raised INR 10 crore in a pre Series A round in December 2024.
Regulatory filings show that the board allotted 15,063 Series A CCPS at an issue price of INR 71,000 each to raise the fresh capital. Zoho Corporation contributed INR 87 crore while Unicorn India Ventures added INR 16.5 crore. Maithan Alloys invested INR 3.45 crore in the round.
Estimates suggest the company is valued at nearly INR 630 crore, a 6.6 times jump from its previous valuation of INR 95 crore during its earlier fundraise.
Founded in 2020, Netrasemi builds system on chips for smart IoT devices. Its technology is designed to handle intensive workloads such as video processing. The chips are powered by an in house AI acceleration core and silicon IPs, which allow advanced analytics directly on devices without depending on servers or cloud systems.
With this round Zoho Corporation has acquired a 13.83 percent stake in the company, while Unicorn India Ventures holds 13.56 percent. The three co-founders, Jyothis Indirabhai, Deepa Geetha and Sreejith Varma, together retain more than half of the ownership. The company also maintains an ESOP pool of 5.19 percent valued at INR 32.6 crore.
Netrasemi, which is supported by IIM Kozhikode, reported operating revenue of INR 1.55 crore in FY24 along with a profit of INR 5.3 lakh. Financial results for FY25 are yet to be declared.
After the Series A round, the founders diluted close to 45 percent of their stake, a strategy often seen among early stage startups. Similar dilution was recorded in other young ventures such as fintech firm DPDzero and trading platform Sahi during their Series A rounds.
