• Startup Pulse
    altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating.
  • India Wants to Make More Than Just Chips! Semicon 2.0 Targets These 3 Critical Sectors

    Semicon 2.0 Web Application Portal

    New Delhi: Union Minister for Electronics and Information Technology, Railways, and Information & Broadcasting, Ashwini Vaishnaw, has launched the Semicon 2.0 Web Application Portal under the Semicon India Programme, opening applications for Pillars 2, 3 and 4.

    The launch was followed by the announcement of 12 additional approved applicants under the Electronics Components Manufacturing Scheme (ECMS), marking another step towards strengthening India’s semiconductor and electronics manufacturing ecosystem.

    The Government of India has been undertaking several initiatives and policy interventions to establish a robust and resilient semiconductor ecosystem in the country.

    The launch of the Semicon 2.0 Web Application Portal is part of these continued efforts to expand domestic semiconductor manufacturing capabilities, strengthen supply chains and encourage investments across strategic segments.

    India Semiconductor Mission: Progress Under Semicon 1.0

    Within a few years of its establishment, the India Semiconductor Mission (ISM) has catalysed the growth of India’s semiconductor ecosystem through the successful implementation of the first phase of the Semicon India Programme, known as Semicon 1.0.

    Under Semicon 1.0, 12 projects were approved across six states, involving cumulative investments of more than ₹1.64 lakh crore. Of these, five projects had already commenced commercial production as of October 2026.

    The India Semiconductor Mission has also supported the development of India’s semiconductor design and talent ecosystem.

    Under various initiatives:

    • 105 startups have been provided access to Electronic Design Automation (EDA) tools.
    • 24 startups have received funding support.
    • 15 startups have received venture capital funding.
    • 332 institutions have been provided with EDA tools under the Chips to Startup (C2S) Programme.

    Approximately 70,000 students have been trained under the C2S Programme.

    These initiatives have contributed to expanding semiconductor design capabilities, supporting startups and building a skilled workforce for the industry.

    Semicon 2.0 Approved With ₹1,27,500 Crore Outlay

    The Union Cabinet has approved Semicon 2.0 with a fiscal outlay of ₹1,27,500 crore under the India Semiconductor Mission.

    Marking the next phase of India’s semiconductor journey, Semicon 2.0 focuses on six strategic pillars covering chip design, manufacturing infrastructure, research and development, and talent development.

    The six pillars of Semicon 2.0 are:

    • Pillar 1: Design of Chips
    • Pillar 2: Machines and Materials
    • Pillar 3: Setting Up More Fabs
    • Pillar 4: Further Strengthening the ATMP/OSAT Industry
    • Pillar 5: Research and Development
    • Pillar 6: Talent Development

    With the launch of the Semicon 2.0 Web Application Portal, applications are now open for Pillars 2, 3 and 4.

    The portal will facilitate applications under these three strategic pillars, covering machines and materials, semiconductor fabrication facilities, and the Assembly, Testing, Marking and Packaging (ATMP) and Outsourced Semiconductor Assembly and Test (OSAT) industries.

    Ashwini Vaishnaw Highlights India’s Growing Electronics Manufacturing Capabilities

    Addressing the gathering, Union Minister Ashwini Vaishnaw said India’s electronics manufacturing journey had moved beyond assembly towards the development of a comprehensive domestic value chain encompassing modules, components, materials and advanced technologies.

    He highlighted the growing capabilities in battery cells, copper foils, copper-clad laminates and high-end printed circuit boards.

    He noted that government initiatives were strengthening domestic supply chains and creating opportunities for Micro, Small and Medium Enterprises (MSMEs), with nearly 50% of the units approved under the scheme belonging to the MSME sector.

    Emphasising the objectives of Semicon India 2.0, Vaishnaw said the programme would focus on building a robust semiconductor ecosystem, particularly in equipment, materials, chemicals and gases.

    The government has set a target of attracting at least three major equipment manufacturers and five companies in the chemicals and gases segments to India.

    Calling for rigorous project selection, the Minister stressed that quality, technological depth, research and development, and global competitiveness must guide India’s semiconductor ambitions in line with the vision of Atmanirbhar Bharat.

    He also urged industry stakeholders to collaborate, share expertise and pursue continuous improvement to establish India as a globally competitive electronics and semiconductor manufacturing hub.

    Government Approves 12 More Applicants Under Electronics Components Manufacturing Scheme

    Alongside the launch of the Semicon 2.0 Web Application Portal, the Ministry of Electronics and Information Technology (MeitY) announced 12 additional approvals under the Electronics Components Manufacturing Scheme (ECMS).

    These approvals come in continuation of the 106 applications involving investments of ₹69,548 crore announced earlier.

    The latest 12 approved applications involve projected investments of ₹7,503 crore. They are expected to generate production worth ₹39,045 crore and create 7,127 direct employment opportunities.

    The newly approved projects cover the manufacturing of 10 target-segment products across three broad categories: bare components, supply chain products, and capital goods.

    The approvals include:

    Four components:

    • Multi-layer Printed Circuit Boards (PCBs)
    • Relays
    • Heat sinks
    • Specialty ceramics

    Five supply chain products:

    • Copper foil
    • Anode material
    • Cathode active material
    • Polypropylene film
    • Camera rim

    Capital goods and their parts:

    • Precision moulds and tooling
    • Power and control systems for capital equipment
    • Capital equipment for factory automation and system integration

    The approved projects are spread across seven states: Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Tamil Nadu and Uttar Pradesh.

    The latest approvals also include the first-time approvals under ECMS for copper foil, cathode active material and specialty ceramics, expanding the range of electronics components and upstream materials to be manufactured domestically.

    Companies Approved for Manufacturing Electronic Components

    Under the components category, the government has approved the following companies:

    Multi-layer PCB: NeST ICELR Private Limited

    Relays: TDConnex (Chennai) Private Limited

    Heat sinks: Modern Automotives Limited

    Specialty ceramics: Voltix Semicon Private Limited

    These approvals are aimed at expanding domestic production capabilities across important electronic components.

    Approvals for Electronics Manufacturing Supply Chain Products

    To strengthen India’s electronics manufacturing supply chain, approvals have also been granted to companies manufacturing key upstream materials and supply chain products.

    The approved companies and their respective manufacturing segments include:

    • Copper foil: Indo Asia Copper Limited. Copper foil is an important input for Copper Clad Laminate (CCL) used in PCBs and lithium-ion cells.
    • Anode material: TACC Limited, for manufacturing anode material used in lithium-ion cells.
    • Cathode active material: Vidyuta Materials Private Limited.
    • Polypropylene film: Enerfolie LLP, for capacitor-grade dielectric film.
    • Camera rim: Surface Modification Technologies Pvt. Ltd.

    The approvals cover several materials and components required across electronics manufacturing and related supply chains.

    Capital Goods Manufacturing Also Gets ECMS Approvals

    The latest ECMS approvals also continue the government’s emphasis on developing domestic manufacturing capabilities in capital goods and their parts.

    The following companies have received approvals in this category:

    • TDConnex (Chennai) Private Limited: Precision moulds and tooling.
    • Rockwell Automation India Private Limited: Power and control systems for capital equipment.
    • Wipro Pari Robotics Private Limited: Capital equipment for factory automation and system integration.

    These projects are expected to support the domestic manufacturing of equipment and systems required by India’s electronics manufacturing industry.

    ECMS Approvals Reach 118 Applications Across 16 States

    With the latest approvals, the overall number of approved applications under the Electronics Components Manufacturing Scheme has increased to 118.

    These applications cover 34 products across 16 states and involve the following projected outcomes:

    • Total approved applications: 118
    • Products covered: 34
    • States covered: 16
    • Expected investment: ₹77,051 crore
    • Projected production: ₹5,73,146 crore
    • Expected direct employment: 81,755 persons

    The approvals are expected to strengthen domestic supply chains, deepen value addition, reduce import dependence and build advanced manufacturing capabilities.

    The ECMS initiative is aimed at further advancing India’s position as a global electronics manufacturing hub by expanding the domestic production of components, materials and capital goods.

    Ashwini Vaishnaw Says India’s Electronics Manufacturing Transformation Is Just the Beginning

    While addressing the media, Ashwini Vaishnaw highlighted the transformation of India’s electronics manufacturing industry over the past decade.

    He said, “India has undergone a fundamental transformation over the past decade. However, this is just the beginning, with various policy initiatives and concerted efforts by the public and private sectors laying the foundation for the growth of the semiconductor and electronics industry and the vision of an Atmanirbhar Bharat”.

    India is strengthening its domestic electronics manufacturing ecosystem, with a growing focus on manufacturing computers and their components within the country. These efforts are aimed at reducing import dependence and building a robust, self-reliant electronics value chain.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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