Semiconductor startup Netrasemi’s valuation surges 6.6X in Series A round

Kerala-based Semiconductor startup Netrasemi recently announced its Rs 107 crore ($12.5 million) Series A round led by Zoho Corporation with the participation of existing investor Unicorn India Ventures.

This is the company’s second fundraising in less than a year, following its Rs 10 crore pre-Series A round raised in December 2024.

The board at Netrasemi allotted 15,063 Series A CCPS at an issue price of Rs 71,000 each to raise the aforementioned amount, as per filings sourced from the Registrar of Companies (RoC).

Zoho Corporation spearheaded the round with Rs 87 crore ($10.2 million) followed by existing investor Unicorn India Ventures, which invested Rs 16.5 crore ($1.94 million). Ferro alloys producer Maithan Alloys also joined the round with Rs 3.45 crore.

According to Entrackr’s estimates, the company is currently valued at around Rs 630 crore ($74 million), a 6.6X jump from its previous valuation of Rs 95 crore ($11 million) in its pre-Series A round.

Founded in 2020, Netrasemi develops system-on-chips (SoCs) for smart IoT products, designed to handle complex workloads like video processing. Its energy-efficient chips, powered by an in-house AI acceleration core (NPU) and silicon IPs, enable advanced analytics directly on devices without relying on servers or the cloud.

Zoho Corporation has joined Netrasemi’s cap table with a 13.83% stake, while existing investor Unicorn India Ventures holds 13.56%. The co-founders, Jyothis Indirabhai, Deepa Geetha, and Sreejith Varma, collectively retain over 50% ownership, and the company has an ESOP pool of 5.19%, valued at Rs 32.6 crore.

The IIM-Kozhikode-backed company reported operating revenue of Rs 1.55 crore in FY24, with a profit of Rs 5.3 lakh. Its FY25 results have yet to come.

Netrasemi’s co-founders diluted nearly 45% of their stake after the Series A round, reflecting a common approach among early-stage startups to raise significant funding while bringing in institutional investors. Similarly, fintech startup DPDzero and stock trading app Sahi saw their co-founders dilute around 45% and 40% respectively, at Series A.