Cosmic Circuits, a start-up, gets CEO of EDA giant on board
Tan, who had earlier invested in IT firm MindTree, has also joined the start-up firm’s board.
The quantum of investment was not disclosed either by Tan or the company. Bangalore-based Cosmic Circuits licences its IP to global chipmakers and makes silicon that goes into end products, such as tablets and cell phones. The six-year old firm has thus far shipped nine million chips. Being privately held, the firm does not disclose revenues, but has a topline CAGR of 35% and is profitable from the first year itself.
Cosmic Circuits is founded by four Indians — Ganapathy Subramaniam, now the CEO of Cosmic Circuits, C Srinivasan, the firm’s VP of Engineering, Prakash Easwaran, CTO, and A Nagaraj, VP of Finance and Admin. While the seed capital for the firm came from the founders, Tan’s investment is the first external deal for the company.
Cosmic Circuits is a fables company and the firm has partnered with leading global foundries, such as TSMC, GlobalFoundries, UMC, Fujitsu, NEC and SMIC, to manufacture its chips. Lip-Bu Tan has been a member of the Cadence Board of Directors since 2004. He had earlier founded venture capital firm Walden International in 1987 and has been active in the venture capital industry for the past two decades. Tan is credited with pioneering the US venture capital concept in Asia.
“I am very positive about
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