InCore Semiconductors is a fabless semiconductor company founded in the year 2018 by the same team that developed IIT Madras’s SHAKTI processor program. InCore Semiconductors is an IP design house for RISC-V-based processor IP intended for embedded applications. This startup has been molded into being, realizing the increasing demand for licensable and customizable IP cores across emerging markets for consumer electronics, AI, automotive, and computing devices. So, the idea struck when, after working on the SHAKTI project, there came an epiphany that SoC companies need scalable and plug-and-play solutions for their IP.
InCore develops proprietary offerings like the Azurite core, targeting low-power applications such as smart meters and smart cards; and the Calcite core capable of running Linux, which is designed for higher-performance applications including wearables and networking systems. At the company, the work is centered around developing configurable processor generators, not the individual processors themselves, which will allow flexible and customizable IPs for clients.
It too had its fair share of very early challenges, but finally, after being bootstrapped for five years, this year InCore secured $3 million in seed funding from Peak XV. Currently, the startup is expanding its line of products, including Dolomite-a new core targeted at mobile devices and storage-that is expected to arrive around mid-2025.
Currently, InCore operates at a pre-revenue stage. It intends to start revenues before the close of 2024. The company is piloting its IPs with several firms and turning international focus towards markets like the Bay Area. Notwithstanding anxiety over raising extra funds, InCore expects to be a vital participant in the nascent Indian Semiconductor Market, projected to cross more than $150 billion by 2030.
