Xsi Semiconductor Gets Investment From IAN [DealCurry (India)]
(DealCurry (India) Via Acquire Media NewsEdge) Power management company Xsi Semiconductors has received funding from IAN along with the participation of Lip Bu Tan, the Chairman of Walden International, according to ET.Currently the company's products are in development stage and is planning to use funds to productise its IC solution and launch the products in the market.The Bangalore based company was founded by trio team of Swaminathan, Hrishikesh Bhagwat and Krishnadas Bhagwat in 2011 and is engaged in development of mixed signal integrated chip based products. The company is planning to target OEMs like handset manufacturers or lighting manufacturers and original display manufacturers.Indian Angel Network has over 250 members and has funded close to 60 startups across multiple sectors including IT, mobile, etc. across India and overseas and has made several successful exits. Last year, it completed total 18 investments, averaging one deal every three weeks. In 2012, IAN had invested in 17 companies totaling $11 Mn and had incubated 40+ ventures while in 2011 the investment was over $8 million across 11 startups.IAN had also introduced IAN Impact Fund last year in July to invest in social enterprises. It had planned to invest in six early stage companies with a ticket size upto R2 Cr. Its recent investments from the fund include Gram Vaani - a social technology venture and cooperatives marketplace - GoCoop.com.Last November, IAN had invested in FabAlley.com, an online store for women's accessories and fashion clothing. Other investee companies are Mukunda Foods Pvt Ltd, IndiaCollegeSearch.com, Snaplion, RankJunction.com and Mobilewalla.
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