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The venture capital firm had raised Rs 600 crore for its second fund and was expecting to hit the first close of the third fund this year.
The chip is the first in what it describes as a multi-generation compute platform
Existing investors 3one4 Capital and Zephyr Peacock participated in the funding round.
The London-based deeptech startup will invest the funds in engineering and research and development (R&D).
The fresh capital will support hiring and starting work on its next generation of chips.
The funding round saw participation from Roots Ventures, Caperize Fina, and MAIQ Growth Scheme.
The funding round also saw participation from Yali Deeptech and TDK Ventures.
The target corpus of the new fund includes a greenshoe option of Rs 150 crore.
AI and deep tech will continue to dominate the fund’s thesis, perhaps even more strongly than before.
India Semiconductor Mission 2.0 announced to focus on equipment and materials manufacturing and design full-stack Indian IP.
The funding round also saw participation from angel investors.
The funding round saw participation from LetsVenture Angel Fund and Sun Icon Ventures, among others.
The funding was raised from investors including a16z, Felicis, DST, NVentures, NVIDIA’s venture capital arm, and Accel.
The Bengaluru-based startup will use the fresh capital to expand global delivery centers, build advanced test labs, pursue acquisitions, and strengthen R&D.
The initiative is aimed at generating more than $510 billion in economic value by 2040.
