The Hindu Business Line : Techfarm to fund IChip

Hyderabad, Dec. 16 Techfarm Ventures, a US-based company which incubates technology start-ups and provides venture capital funds, is set to fund IChip Technologies.

Mr Gordon Campbell, Chief Executive Officer of Techfarm is also the CEO and Co-founder of Personal Web (PW) Systems, incorporated in the US, which has taken over IChip Technologies.

@box

IChip Technologies, Hyderabad, which recently announced the development of @Box, a low cost device which can double up as a PC and provide a window to the world through the TV and a computer monitor, will now become a subsidiary of PWSystems.

While refusing to disclose the scale of investments, Mr Campbell told newspersons that it would be substantial. “We will bring the product to India first and thereafter other countries”. For Techfarm Ventures this is the second investment in an Indian start-up. The earlier one being a portal player. So far, the company has successfully incubated more than a dozen companies which have made significant contributions to the semiconductor industry, including the first Ethernet chip and graphics controller, he said.

“India is a huge opportunity for the product, especially with the roll out of broadband. I believe @Box is one sure method of bringing at least a billion more people to experience the power of the Internet”, Mr Campbell said.

Mr Kota Bhaskar, the chief architect behind the development of the versatile box, said they were already in talks with large Indian telcos for the product. Efforts were on to look at manufacturing options also.

The company was positioning the @Box at the most cost effective PC and as a device which when connected to a TV or a monitor can do virtually all that these two gadgets can.

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Techfarm to fund IChip