Azimuth AI Inc., a startup specializing in custom silicon solutions for edge and embedded computing, has raised $11.5 million in its latest funding round. Founded in 2022, the company focuses on developing application-specific System-on-Chip (SoC) products tailored for industries such as smart cities and electric 2/3-wheeler vehicles.
Strategic Backing by Leading Investors
The round was led by Cyient, a global Intelligent Engineering services firm based in Hyderabad, India. Cyient’s strategic investment underscores its commitment to expanding capabilities in semiconductors. Krishna Bodanapu, Executive Vice-Chairman & Managing Director at Cyient, noted:
“This investment strengthens our semiconductor expertise and aligns with our dedication to powering next-generation energy and technology solutions.”
Moneta Ventures, a Sacramento-based VC firm, co-led the round, along with support from Growth Factory and AUM Ventures, Azimuth’s seed investor. Commenting on their participation, Moneta Ventures Partner Ashu Bhalla stated:
“Azimuth’s ability to deliver innovative, cost-effective silicon solutions to meet specific market demands stood out. Their approach to tackling complex challenges is transformative.”
Driving Innovation in the Booming ASIC Market
The global semiconductor industry, valued at $600 billion, is projected to surpass $1 trillion by 2030. Within this space, the Application-Specific Integrated Circuit (ASIC) market is growing three times faster than general-purpose chips. Azimuth AI is uniquely positioned to leverage this growth, providing differentiated silicon solutions.
Ramya Mohan, Chief Strategy Officer at Cyient, emphasized:
“With the semiconductor industry’s rapid growth, custom silicon chips are becoming key to addressing the evolving needs of diverse applications. Azimuth AI is leading this transformation.”
Capital Allocation for Product Development
Azimuth AI plans to utilize the funds to:
- Productize its first-generation SoC for a leading global Original Equipment Manufacturer (OEM).
- Expand its team and partnerships to support a roadmap of innovative SoCs.
- Focus on environmental sustainability, ensuring affordable access to cutting-edge computing in cost-sensitive markets.
The startup’s first-generation SoC aims to redefine computing at the edge with optimized performance, cost efficiency, and sustainability.
Leadership and Strategic Growth
Azimuth AI’s co-founders, Sri Badiga and Praveen Yasarapu, welcomed new board members, including Krishna Bodanapu, Ramya Mohan, and Ashu Bhalla. They highlighted the importance of this guidance in scaling the company:
“These industry veterans bring a wealth of knowledge that will be instrumental in navigating global markets and advancing Azimuth’s mission to shape the future of emerging technologies.”
