Indian semiconductor startups have raised approximately $206 million across 51 funding rounds since 2022, according to the Indian Semiconductor Startup Landscape 2026 report by Speciale Invest and Startup Policy Forum (SPF). Funding momentum accelerated in 2026, with startups raising $61.9 million in the first half alone, equivalent to 81% of the $76.6 million raised in all of 2025.
The number of funding rounds declined from 16 in 2024 to 13 in 2025 and just 7 in H1 2026, indicating investors are concentrating capital on fewer, more mature companies closer to commercialization. Seven recent Series A rounds accounted for $73.7 million, roughly one-third of all semiconductor startup capital raised since 2022.
Government support has played a crucial role. Of the 24 chip-design projects supported under the Design Linked Incentive (DLI) programme, 14 have raised institutional venture capital, collectively securing $100.8 million across their first and second rounds. Four companies—C2i Semiconductors, NetraSemi, Morphing Machines, and Mindgrove Technologies—account for approximately 56% of all private capital raised by DLI-backed companies.
The average cheque size increased to $8.8 million in 2026 from $3 million in 2024, reflecting growing investor confidence in India’s semiconductor ecosystem. Startups are also expanding beyond chip design into equipment, packaging, photonics, and AI-focused semiconductor applications.
FAQs [Frequently Asked Questions]
Q1: How much funding have Indian semiconductor startups raised since 2022?
A: Indian semiconductor startups raised approximately $206 million across 51 funding rounds since 2022, with $61.9 million raised in H1 2026 alone.
Q2: What role does the Design Linked Incentive (DLI) programme play?
A: Of 24 DLI-supported chip-design projects, 14 raised $100.8 million in venture capital, showing strong government-private sector synergy.
Q3: How has investor behavior changed in semiconductor funding?
A: Investors are focusing on fewer, larger bets on mature companies, with average cheque size rising from $3 million in 2024 to $8.8 million in 2026.