LED Driver ICs are Indian Angel Network’s First Investment of 2014
The Indian Angel Network (IAN), India's first and Asia's largest network of angel investors investing in start-ups and early stage ventures, announced today an undisclosed investment in xSi semiconductors, an IC solutions provider. This round of investment was led by the IAN member, Hemant Kanakia who will also be joining the board. "Lip Bu Tan", Chairman of Walden International is co-investing in the start-up. The company will use the funding to productize its IC solution which is an important stepping stone towards becoming a product company. Its core focus area is in power management primarily in LED drivers and voltage regulator ICs.
Rajesh Swaminathan, Krishnadas and Hrishikesh launched xSi semiconductors in 2012, with an aim to create analog and mixed signal power management IC products. Leveraging the best from the world of analog and digital to create best in class products is the USP of the start-upâ€™s solution. The team is currently focusing on providing versatile, cost effective and high functional IC solutions for LED lighting market. Its unique architecture creates value to its customers through higher integration, functionality, quick time to market and lower BOM cost.
"We are excited to secure IAN investment both in terms of capital and investor credentials which is a healthy mix of semiconductor industry veterans and business leaders. We plan to use their guidance and network to create value to our customers, investors and employees. Our immediate plan is to productize our IC and subsequently spawn to multiple products and product lines,â€ Rajesh Swaminathan, co-founder and CEO said.
â€œxSi founders have an in-depth knowledge of the space and collective experience of semiconductor expertise in the fields of product, design, device, process and operations of more than 50 years. IAN invests in teams that have deep domain expertise and high focus on execution to create high value companies,â€ stated Hemant Kanakia, an IAN investor member who has also joined the xSi semiconductors board.