InCore Semiconductors, incubated at IIT-Madras, aims to build a robust semiconductor ecosystem in India, starting with embedded processors for everyday devices. In May 2023, the venture secured $3 million in seed funding from Peak XV (formerly Sequoia Capital’s India and Southeast Asia unit) to advance its development of semiconductor processors based on the RISC-V open-source architecture.

The goal is to create made-in-India chips and systems-on-chip products that could significantly reduce the country’s reliance on semiconductor imports. Co-founder and CEO GS Madhusudan emphasizes the need for practical prototypes, noting that successful systems integrate numerous theories into functional products, akin to how Microsoft Windows operates.

IIT-Madras initiated its semiconductor research around 2007 under Professor V Kamakoti, with Madhusudan joining the team in 2012 to contribute to Shakti, the flagship RISC-V platform. InCore was established in 2018 with a clear ambition: first, to develop processors for the embedded applications market, which comprises about two-thirds of processors in common electronic devices. The goal is to ensure India achieves strategic autonomy in processor intellectual property.

InCore has already made significant progress, with two processor families currently shipping to customers and a more advanced 1.5 GHz version on the horizon. Madhusudan highlights the growing semiconductor ecosystem in India, asserting that while some components like GPUs and fabrication tools still rely on foreign sources, initiatives like Tata Group’s fab and OSAT (outsourced semiconductor assembly and testing) plants are set to change that landscape.

Partnerships with firms such as HCL and Tessolve are underway to create reference designs for various sectors, including electricity meters and IP cameras. This collaboration allows Indian customers to work directly with fabrication plants to order chips, generating traction in several high-volume segments.

Madhusudan challenges the misconception that India lacks semiconductor technology, stating, “We’ve been designing chips for others for years. We can do it for ourselves.” The remaining challenges lie in building supply chains and enhancing product marketing expertise, which India is actively addressing as it moves towards self-sufficiency in semiconductor production.