Cyient, a global leader in Intelligent Engineering services, has acquired a 27.3% stake in Azimuth AI, a fabless custom ASIC company specializing in intelligent energy solutions. This investment marks a significant milestone in Cyient’s semiconductor strategy, aimed at driving growth in the industry.
Krishna Bodanapu, Executive Vice-Chairman and Managing Director of Cyient, noted that India is becoming a hub for chip development, particularly in power-efficient systems. He emphasized that this partnership will strengthen their focus on developing cutting-edge ASIC chips in India for a global market.
Praveen Yasarapu, Founder and CEO of Azimuth AI, expressed excitement about the collaboration, highlighting the complementary strengths of both companies in ASIC design and innovation.
This investment further solidifies Cyient’s commitment to enhancing its semiconductor capabilities and driving industry innovation.