McLaren Strategic Ventures (MSV), a startup focused-investment firm founded by Sajan Pillai, has launched a semiconductor design vertical Atlas Silicon in the country with planned investment of around Rs 100 crore. It plans to start hiring 100 engineers by March.
The California-based McLaren Strategic Ventures is a business acceleration initiative launched in 2020 by Pillai, who was the founder-CEO of leading software firm UST.He expects Atlas Silicon, which will be an AI-based chip design venture, to become a USD 300-million business by the turn of 2025.
The global microchips industry is expected to be around USD 25 billion by 2025, clipping at over 8 per cent annually, Pillai said, adding he expects to tap consumer electronics, automotive, telecoms, medical instrumentation, aerospace subsystems and sensors and other applications like smart cards.It seeks to revolutionize the global semiconductor industry, which has been facing a lot of challenges since the pandemic hit supply chains, leading to a crisis in a host of industries like automobiles and cellphones.
McLaren, through its investment arm Season Two Ventures, has pumped in over Rs 100 crore into eight startups including Warehouse Now, Aerchain, Ambee, 4BaseCare, Uvik and Twixor so far, and is also looking at a large acquisition.
On the chip design venture, McLaren Ventures are in discussions with various Southern states to finalize the location for Atlas Silicon. It will begin with hiring 100 artificial intelligence-focused software engineers by March.