Intel CEO-Backed C2i Semiconductors Bags $15 Mn, Largest by an Indian Chipmaker

Fabless semiconductor design startup C2i Semiconductors has raised $15 million in a Series A funding round led by Peak XV Partners (formerly Sequoia Capital India & SEA). The round also saw participation from Yali Capital and TDK Ventures

The funding marks the largest round raised by an Indian semiconductor startup, according to PIB. Earlier, in August last year, Netrasami had raised ₹107 crore ($12.5 million) led by Zoho, with the participation of Unicorn India Ventures.

C2i Semiconductors’ latest round follows a $4 million investment in 2024 led by Yali Capital and also supported by semiconductor industry veteran and Intel CEO Lip-Bu Tan. The cumulative investment raised stands at about ₹170 crore ($19 million), in addition to receiving support under the Design Linked Incentive (DLI)  scheme.

The DLI scheme offers reimbursements of up to ₹15 crore per year, as well as incentives of up to ₹30 crore on net sales turnover for five years. It also offers them access to EDA (electronic design automation) tools and IP cores. An expert committee screens applicants to ensure technical credibility. 

The Bengaluru-based startup designs intelligent power-management chips for high-performance AI data centres and cloud systems. It was incorporated in June 2024 and received approval under the DLI scheme, effective November 2024. 

Rajan Anandan, Managing Director at Peak XV, said in a statement that C2i’s approach “can significantly extend GPU lifespan and unlock billions of dollars in industry savings”.

C2i’s founding team brings experience from companies including Texas Instruments, National Semiconductor, and Maxim Integrated. The company ranks among the top three users of centralised EDA tools at the ChipIN Centre under the scheme. Peak XV said in a post on X, “The team has grown to 65 engineers and taped out its first chips in under 18 months.”

C2i is developing grid-to-core semiconductor solutions to manage power flow inside servers. The company said modern data centres are constrained by AI workloads that demand a stable, large-scale power supply to improve efficiency and reliability.

The startup is building a configurable power platform that manages and optimises power delivery in real-time. It expects its first silicon designs to return from fabrication by mid-year and to validate performance thereafter.