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Time of India
3 days ago
- Business
- Time of India
Intel, AMD former executives throw the hat into AI semiconductor ring
About a dozen executives from semiconductor and chip design companies such as Intel, AMD and Texas Instruments have quit to establish AI chip startups in India to tap into the multibillion-dollar industry. Four from Texas Instruments have started C2i Semiconductors, which is developing products to reduce energy consumption by semiconductors. They have raised $4 million from Yali Capital and Intel CEO Lip Bu-Tan, according to Tracxn. Bodhi Computing, which was acquired by Krutrim, was started by two Intel veterans, Sambit Sahu and Raghuraman Barathalwar. They are currently heading Krutrim's semiconductor initiatives, which ET had reported earlier. Four former Intel and AMD executives have set up Agrani Labs and are developing indigenous AI chips in Bengaluru. They are in talks to raise $8 million from Peak XV Partners, according to people familiar with the development. Most of these executives have spent 15-20 years in the semiconductor industry. India's semiconductor ecosystem is evolving rapidly through a combination of government initiatives such as design-linked incentives, experts said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Apart from this, the country is becoming a key centre for chip design and development and concentrated efforts are being made to set up semiconductor hubs. Global semiconductor sales are on track to reach $1 trillion by 2030 from $627 billion in 2024, according to a Deloitte report, driven by the demand for generative AI and other chips, including those for CPUs, GPUs, memory and power. In addition to this, semiconductor startups — even those that do not cater to the AI space — have seen investor interest in the past year. These include Mindgrove Technologies, InCore and Agnit Semiconductors. Agrani Labs is developing AI chips for the global market and is currently in stealth mode, according to people aware of the matter. Agrani Labs and Peak XV Partners didn't respond to queries. C2i Semiconductors, which is also in stealth mode, recently received the first part of funding from the government's design-linked incentive programme, the company announced on LinkedIn. Krutrim had earlier announced that the company is developing the Bodhi 1 chip, focused on advanced AI models, which is expected to hit the market in 2026. Bodhi 2, focused on training and inferencing, is scheduled for release by 2028. Also Read: Krutrim to launch first AI chip in 2026: Bhavish Aggarwal Others that have received funding recently include InCore, which raised $3 million from Peak XV. Mindgrove Technologies raised $8 million from Peak XV and others. Agnit Semiconductors has raised $4.87 million from 3one4 Capital and others. The Covid pandemic showed that India needed to develop its own supply chain, said Ganapathy Subramaniam, managing partner, Yali Capital, and former Texas Instruments executive. In the last few years, the government has drawn up several initiatives to develop the ecosystem. Over the past four decades, the country has produced chip designers for Texas Instruments, Intel and AMD, Subramaniam said. 'India is the second-largest centre for chip design for companies in the US, South Korea and Japan, creating a huge talent pool in the country,' he said. Challenges Scaling up semiconductors is still a challenge, said Tarun Pathak, research director, Counterpoint Research. 'India is still dependent on imports for many essential inputs, particularly from China, which holds cost and volume advantages due to its mature manufacturing and efficient supply chains,' he said. 'Matching the scale while keeping the costs down will be a challenge.' In addition, while government policies help, global original equipment manufacturers have established supply networks and the shift will take time, he said.
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Business Standard
3 days ago
- Business
- Business Standard
Healthcare site Practo aims to double international revenue in 3 years: CEO
Practo, an Indian healthcare services platform connecting doctors and patients, wants to double its revenue from international business in the next three years as it expands into developed markets, a top executive told Reuters. Founded in 2008, the Bengaluru-based firm gets about 20% of its revenue from international markets, where its bigger presence is through its software management service for hospitals in South East Asia, the Middle East and Africa. The company aims to double this revenue stream in the next two to three years but mostly via the consumer-facing platform, which currently is present only in Dubai, Sharjah and Abu Dhabi, outside of India. This expansion will aid double-digit overall revenue growth, CEO Shashank ND told Reuters last week. Practo's revenue jumped 22% to 2.4 billion rupees ($28 million) in fiscal 2024. "...If you look at Canada and Australia or any of the western markets ... there isn't ... technology that has led to better health outcomes from a doctor-marketplace standpoint. And that's where we see a very wide open field," said Shashank, who goes by his first name. Practo is also working on going public in India, he added, without specifying a timeline. The company, which achieved profitability in the March 2024 quarter, was valued at $418 million as of April 2022, according to data from market intelligence platform Tracxn. The COVID-19 pandemic gave the platform a boost due to a shift in people's mindset that prompted them to consult doctors regularly, Shashank said. "Before COVID, it was more challenging. It took us a lot more time to convince providers to see the benefits of digital. But after COVID, I must say that it's a reverse effect. We have a lot more pull from the supply side." ($1 = 85.3700 Indian rupees) (Reporting by Rishika Sadam; Editing by Janane Venkatraman)
Yahoo
3 days ago
- Business
- Yahoo
Indian healthcare platform Practo aims to double international revenue in 3 years, CEO says
By Rishika Sadam (Reuters) -Practo, an Indian healthcare services platform connecting doctors and patients, wants to double its revenue from international business in the next three years as it expands into developed markets, a top executive told Reuters. Founded in 2008, the Bengaluru-based firm gets about 20% of its revenue from international markets, where its bigger presence is through its software management service for hospitals in South East Asia, the Middle East and Africa. The company aims to double this revenue stream in the next two to three years but mostly via the consumer-facing platform, which currently is present only in Dubai, Sharjah and Abu Dhabi, outside of India. This expansion will aid double-digit overall revenue growth, CEO Shashank ND told Reuters last week. Practo's revenue jumped 22% to 2.4 billion rupees ($28 million) in fiscal 2024. "...If you look at Canada and Australia or any of the western markets ... there isn't ... technology that has led to better health outcomes from a doctor-marketplace standpoint. And that's where we see a very wide open field," said Shashank, who goes by his first name. Practo is also working on going public in India, he added, without specifying a timeline. The company, which achieved profitability in the March 2024 quarter, was valued at $418 million as of April 2022, according to data from market intelligence platform Tracxn. The COVID-19 pandemic gave the platform a boost due to a shift in people's mindset that prompted them to consult doctors regularly, Shashank said. "Before COVID, it was more challenging. It took us a lot more time to convince providers to see the benefits of digital. But after COVID, I must say that it's a reverse effect. We have a lot more pull from the supply side." ($1 = 85.3700 Indian rupees) Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
Indian healthcare platform Practo aims to double international revenue in 3 years, CEO says
May 28 (Reuters) - Practo, an Indian healthcare services platform connecting doctors and patients, wants to double its revenue from international business in the next three years as it expands into developed markets, a top executive told Reuters. Founded in 2008, the Bengaluru-based firm gets about 20% of its revenue from international markets, where its bigger presence is through its software management service for hospitals in South East Asia, the Middle East and Africa. The company aims to double this revenue stream in the next two to three years but mostly via the consumer-facing platform, which currently is present only in Dubai, Sharjah and Abu Dhabi, outside of India. This expansion will aid double-digit overall revenue growth, CEO Shashank ND told Reuters last week. Practo's revenue jumped 22% to 2.4 billion rupees ($28 million) in fiscal 2024. "...If you look at Canada and Australia or any of the western markets ... there isn't ... technology that has led to better health outcomes from a doctor-marketplace standpoint. And that's where we see a very wide open field," said Shashank, who goes by his first name. Practo is also working on going public in India, he added, without specifying a timeline. The company, which achieved profitability in the March 2024 quarter, was valued at $418 million as of April 2022, according to data from market intelligence platform Tracxn. The COVID-19 pandemic gave the platform a boost due to a shift in people's mindset that prompted them to consult doctors regularly, Shashank said. "Before COVID, it was more challenging. It took us a lot more time to convince providers to see the benefits of digital. But after COVID, I must say that it's a reverse effect. We have a lot more pull from the supply side." ($1 = 85.3700 Indian rupees)
Fashion Network
5 days ago
- Business
- Fashion Network
Aditya Birla's Tmrw announces strategic partnership with LiteStore to expand offline operations
Aditya Birla Group's House of Brands retail business Tmrw has announced a strategic partnership with retail-as-a-service platform LiteStore to accelerate its brick-and-mortar expansion across India. The collaboration is expected to add 25,000 square feet of retail space over the coming 18 months. 'The value of this expansion lies in curating customer-centric store formats that enhance brand visibility while providing a superlative shopping experience," said Tmrw's CBO and business head Manish Singhai, Indian Retailer Bureau reported. "Bringing beloved brands under one roof creates a broader selection and a seamless experience for customers. Their plug-and-play model allowed our brands to test, scale, and iterate across formats- without compromising on brand experience." The initiative will see Tmrw's digital-first fashion and lifestyle labels including Wrogn, Bewakoof, The Indian Garage Co., and Nobero launch new physical outlets in high-traffic locations such as malls, high streets, and premium outlet centres. LiteStore has previously supported key launches for Tmrw, including Bewakoof's debut store at Forum South Mall in Bengaluru and several outlets in HSR Layout and Koramangala. Other developments include Wrogn's flagship in HSR Layout, Nobero's exclusive brand outlet in Pune's Amanora Mall, and Nauti Natti's first store in western India. Tmrw has also piloted driveaway outlet stores in Bengaluru and introduced brands such as Urbano, Veirdo, and Juneberry at Flxy, a Gen Z-focused multi-brand outlet in Pune. Tmrw was founded in 2022 and has 159 employees as of February 2025, according to business information platform Tracxn.
