TNIFMC invests ₹20 cr in semiconductor startup Aheesa

Chennai: Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC) has signed a definitive agreement to invest ₹20 crore in Chennai-based fabless semiconductor startup Aheesa Digital Innovations Pvt. Ltd. The investment, through the Tamil Nadu Emerging Sector Seed Fund (TNESSF), will support the company's transition from tape-out to commercialisation of its networking chip.Founded in 2021 by Sridharan Mani, Sukha R. Ghosh and Anil Raj Thulasi Das, Aheesa designs networking chips and software platforms used in routers, fibre gateways and edge computing hardware. The founders bring over 25 years of industry experience, with backgrounds at Amazon, Microchip Technology and American Megatrends.The company's flagship product, VIHAAN-I, is described as India's first RISC-V-based networking system-on-chip built on a 28-nm process and designed for GPON and EPON broadband networks. The chip is supported by the Ministry of Electronics and Information Technology under the Design Linked Incentive (DLI) scheme, according to a statement.Aheesa aims to supply networking silicon to telecom equipment manufacturers in India, offering a domestic alternative in a market largely dependent on imported chips. The move comes as fibre broadband expansion under BharatNet and private FTTH rollouts drives demand for networking equipment.K Krishna Chaitanya, CEO of TNIFMC said the investment aligns with the state's push to build semiconductor capabilities."TNESSF provides risk capital to companies in emerging sectors to support innovation, manufacturing and R&D," he said, adding that Aheesa represents the kind of deep-technology venture the fund aims to support. By backing Aheesa's indigenous SoC, we are supporting the development of key semiconductor capabilities while strengthening Tamil Nadu's position as a hub for advanced electronics and deep-tech startups," he said.TNIFMC currently manages three funds focused on sectors such as affordable housing, green energy and innovation-driven startups, with TNESSF backing 13 portfolio companies across Tamil Nadu.