Power management integrated circuit (PMIC) fabless startup Ratel Semiconductor announced that it has attracted strategic investment from Telechips, a leading automotive semiconductor company, and has been selected for the Ministry of SMEs and Startups’ Ultra-Gap Startup 1000+ Project (DIPS 1000+).
Since its establishment, Ratel Semiconductor has focused on the development of power management semiconductors for displays and has been recognized for its technological prowess. The company is strengthening the development of power management semiconductors for vehicles and enhancing its technological competitiveness.
As a result of being selected for the Ministry of SMEs and Startups’ Ultra-Gap Startup 1000+ Support Program, Ratel Semiconductor will receive up to KRW 600 million in development funding over the next three years. This funding, along with being selected for TIPS, a private investment and government startup support program in 2024, is expected to provide significant financial support for new product development and business expansion.
Park Soon-koo, CEO, said, “Telechips’ strategic investment is the result of their high evaluation of Ratel Semiconductor’s technological prowess and growth potential,” and added, “We will contribute to strengthening the global competitiveness of the Korean system semiconductor industry through the development and localization of power management semiconductor technology for displays and vehicles.”
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