Thiruvananthapuram-based semiconductor startup Netrasemi has raised $12.5 million in its Series A round led by software-as-a-service (SaaS) major Zoho Corporation.
Surge in valuation and strategic investor backing
The development, first reported by Entrackr, saw the company’s valuation surge over six times to $74 million from $11 million in its pre-Series A round of $1.2 million led by Unicorn India Ventures in December 2024.
Zoho spearheaded the latest investment with approximately $10.2 million, securing a 13.83% stake in the startup. Existing investor Unicorn India Ventures participated with around $1.94 million, while ferro alloys producer Maithan Alloys joined as a new investor with approximately $400,000, according to regulatory filings sourced from Tracxn.
Innovating for the future of on-device AI
The Series A round brings Netrasemi’s total funding to $14.6 million across four rounds since inception. Founded in 2020, the IIM-Kozhikode incubated startup 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 and silicon intellectual properties, enable advanced analytics directly on devices without relying on servers or cloud infrastructure. The company reported operating revenue of `1.7 crore and `5.3 lakh in net profit in FY24, according to Tracxn data.