Zoho applies for semiconductor venture, evaluations underway

Sridhar Vembu, Co-founder and CEO of Zoho Corp, on Wednesday said the semiconductor venture, of which it is a part, has submitted its application to the government, and that thorough evaluation on multiple facets is underway. Work on multiple aspects like finalising the technology and various partners, is currently underway, he told reporters but added it is "too premature" to talk about details including the final location for the project.

"We have filed an application, and that is still pending, " he said. The government is "energised" about India's semiconductor push, he said but noted government will do a detailed evaluation of the technology involved, and viability of the technology, and other nuances. "So it is a very exhaustive, critical evaluation...questions like viability of partner, technology, market impact...so these are complex technologies and therefore it takes time," he said.

Tech company Zoho on Wednesday also launched Vikra, a seller app on the Open Network for Digital Commerce (ONDC) network and Zoho IoT, a scalable low-code platform enabling businesses to build and deploy custom IoT (Internet of Things) solutions. “Built on Zoho’s finance and operations suite, Vikra seamlessly integrates with applications like Zoho Books, Zoho Inventory, and Zoho Commerce, providing businesses of all size a comprehensive, easy-to-use platform that significantly lowers the cost and effort of entering the e-commerce space, making them more visible and competitive in the market,” said the company in a statement.

On the other hand, Zoho IoT helps predict system outages, detect anomalies, and forecast trends to optimize operations and enhance customer experiences using AI-driven insights. “Designed with pre-built solutions for sectors like Industrial IoT and Energy Management, Zoho IoT ensures end-to-end functionality, including integration with Point Solutions and Connected OEMs, delivering a powerful, scalable IoT ecosystem,” said the company.

The company also said that it saw a customer growth of 31 per cent in 2023 in India. The announcements were made on the sidelines of Zoholics India, the company's annual user conference.

Written with inputs from PTI