Indian semiconductor startups raise $206 million

Speciale Invest and Startup Policy Forum released the 'Indian Semiconductor Startup Landscape 2026' report on August 12, 2026, revealing that Indian semiconductor startups raised approximately $206 million across 51 funding rounds since 2022. Funding accelerated in H1 2026 with $61.9 million raised, equivalent to 81% of the total 2025 amount of $76.6 million, while the number of rounds declined from 16 in 2024 to 13 in 2025 and 7 in H1 2026, indicating a shift toward fewer, larger bets on later-stage companies. Government-backed Design Linked Incentive (DLI) programme supported 24 chip-design projects, of which 14 subsequently raised institutional venture capital totaling $100.8 million. Companies including C2i Semiconductors, NetraSemi, Thinking Machines Lab, and Mindgrove accounted for approximately 56% of private capital raised by DLI-backed companies. Strategic investors such as Zoho Corporation and TDK Ventures anchored funding rounds, and global semiconductor companies are increasingly taking equity positions in Indian startups. The report highlights a broadening startup base beyond chip design into photonics, power semiconductors, fab tooling, AI data-centre silicon, and AI-led design workflows. The report was released by Arjun Rampal in the presence of Ajit Krishnan, Secretary of the India — Ministry of Electronics and Information Technology, at Semicon Baatcheet.