Asia’s largest network of angel investors, the Indian Angel Network (IAN) has announced investments of an undisclosed amount into IC solutions provider, xSi semiconductors.
IAN member Hemant Kanakia and Lip Bu Tan, Chairman of Walden International have invested in the startup that deals with analog and mixed signal power management IC products.
Bangalore based xSi semiconductors was formed in 2012 and currently seeks to provide IC solutions to the LED lighting market. xSi said that it intends to use this round of funding from IAN to productise its IC solutions and branch out into multiple product and product lines.
This is IAN’s first investment for the year 2014. The Indian Angel Network had last invested in online fashion label FabAlley in November 2013.