Deeptech startup InCore Semiconductors and investment platform Jarvis have secured early-stage funding, the companies said on Friday.
Deeptech startup InCore Semiconductors has raised $3 million (Rs 24.6 million) in a seed funding round from Sequoia Capital India.
The Chennai-based startup will use the fresh capital to develop and expand its product portfolio.
Launched by G S Madhusudan, Neel Gala, Gautam Doshi and Arjun Menon in 2018, InCore specialises in offering a range of reduced instruction set computer (RISC-V) based processors and system-on-chip (SoC) solutions for industrial segments like automotive, industrial automation, and general electronics among others.
“InCore's RISC-V processor IP solutions can cater to a range of applications, including embedded systems, IoT devices, and industrial controllers. InCore is contributing to the global semiconductor industry and making India a key player in this market,” said Madhusudan.
This is the second startup in the deeptech space that Sequoia has backed this year. In February, the VC firm led the $2.325 million seed funding round of deeptech startup Mindgrove Technologies.
Sequoia, which has backed startups like Byjus, CRED, Freshworks, Groww, Mamaearth, Pine Labs, Razorpay, Truecaller, and Zomato among others also has been investing in a significant number of early-stage deals this year.
Last month, it invested $8.5 million in the Series A funding round of Artificial intelligence (AI)-based video telematics startup LightMetrics.
Artificial intelligence (AI)-based investment platform Jarvis has secured an undisclosed amount in a funding round from Bestvantage Investments and Hem Securities Ltd.
The Mumbai-based startup will deploy the proceeds to further develop its technology stack and scaling up user base.
Founded by Sumit Chanda, Jarvis is an AI-based investment company that uses machine learning algorithms to analyze data and provide personalized investment strategies for its clients.
"This investment will enable us to improve our AI-powered investment platform and provide our clients with efficient investment solutions," said Chanda.
