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BANGALORE, INDIA: The Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund) provided a fund of Rs. 4.95 crores to Graphene Semiconductor Services Pvt. Ltd.
Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund) is a SEBI registered Venture Capital Fund launched during the FY 2014-15 with target corpus of Rs.96.15 crore. The Fund proposes to undertake investments in units catering to Semiconductor, Electronics System Design & Manufacturing (ESDM), Embedded Systems and such other allied sectors within the State of Karnataka.
Graphene is the first company in the semiconductor space to receive the backing of a governmental backed Venture Capital Fund. The SEBI-registered VC Fund chose Graphene for its differentiated focus in semiconductor technology and end-to-end product development along with its leadership excellence.
“We were confident investing in Graphene once we saw the technological prowess in play. We’re also open to providing additional funding for Graphene if needed, further emphasiszing our stance on the company’s offerings and stellar business model. The company has the right ingredients of leadership and technology to climb new heights,” said Jayakumar A.R., CEO KARSEMVEN Fund.
"At KARSEMVEN, we look to bolster new-age entrepreneurs by providing them with necessary capital and the fund operates predominantly in the state of Karnataka," said he.
Graphene currently employs 120 people and has a market presence in India, US and Japan. The company is focusing on Communication, automotive, industrial and storage space in India as it looks to ramp up its offerings by assuring quality, predictability, efficiency and productivity.
“We’re the only startup company to offer a complete end-to-end solution from product realization, conceptualization to deploying the product and following up on sustainability. We’re hoping to work closely with KARSEMVEN in the future as we scale our operations and expand our offerings,” said Vilas Bhade, CEO Graphene Semiconductor.