Bengaluru based-Steradian Semiconductors has raised funds from Endiya Partners in its first round of institutional funding. The amount raised has not been disclosed yet. The funds raised will be used to scale up the development of its high-resolution imaging radar solution.
“We raised funding from Endiya Partners about two-three weeks ago,”, said Ashish Lachhwani, Co-founder at Steradian Semiconductors.
Steradian Semiconductors was co-founded by Gireesh Rajendran, along with his Qualcomm members Apu Sivadas, Alok Joshi, Ashish Lachhwani, and Rakesh Kumar in 2016. It is using proprietary technology to transform radar from a simple obstruction detection to an all-weather 4D mapping device.
The company claims to have created the worlds most compact 28nm milli-meter wave Imaging Radar chip. This can be used in autonomous cars to detect obstacles using its 4D imaging in all weather conditions.
With its product, the company will be looking to target the international market, considering that it will be mandatory to have radars in every car in Europe by 2020, as told by Lachhwani. Its new partnership will help the company to reach the global market.
Before the investment from Endiya Partners, Steradian Semiconductors had been operating on grants received from organizations like Qualcomm.
Endiya Partners is an early stage venture capital firm that is focused on the technology, healthcare and consumer domain. It was founded by Abhishek Srivastava, Dr. Ramesh Byrapaneni, and Sateesh Andra. Some of the startups in its portfolio include CureFit, Alphaics, Darwinbox, InnerChef, SigTuple, among others.
“Led by a team of deep domain experts, Steradian’s disruptive and competitive product is well poised to address and capture the large global market potential,” said Abhishek Srivastava, director at Endiya Partners.
There has been an increase in investments in deeptech industry in India lately with many startups raising funds in different sectors including augmented reality, virtual reality, artificial intelligence, IoT, etc.
In a related news, Noida based virtual reality startup SmartVizX has secured ₹10 crores in pre-series A funding.