UK-based SRAM & MRAM invests 30,000 Cr. INR in Odisha to set up a semiconductor unit; Support startups through its Startup Wings

Startup Wings, the group’s investment arm, will lead the investment in the state; to invest at the rate of INR 2 lakh crores

UK-based global conglomerate SRAM & MRAM Group, a name well known as a pioneer in the construction industry, recently announced that the group will invest Rs 2 million in Odisha to set up a semiconductor unit in the state.

In order to establish the semiconductor fab project in Odisha, a MoU was signed between IPICOL, the Government of Odisha and SRAM & MRAM Technologies. The investment is made and used gradually. In the first phase, the group will invest INR 30,000 crore. The group will work with the world’s leading semiconductor manufacturers for technical cooperation.

The core group has a long history of investing in diverse areas, segments and industries across the country, supporting development through funding, mentoring and industry networks. Their overarching goal is to create an ecosystem that fosters economic growth and nation building. All of this is done through Startup Wings, which is a key arm for the group’s core investments across India and globally. Startup Wings is a UK-based investment and business advisory firm and growth accelerator, collaborator and partner of the SRAM and MRAM Group in all their development-oriented activities.

dr Sailesh Lachu Hiranandani, Chairman of SRAM & MRAM Group, expressed his delight at this collaboration, citing, “This investment has been in the pipeline for a very long time and we are delighted that it is finally becoming a reality.” The country’s development is one of the Priorities of our actions. With this collaboration we expect some really big successes.”

With Startup Wings, the group wants to support start-ups in different phases of their financing and offer them a global platform. The group supports and promotes the startup ecosystem while contributing to boosting the economy and building the nation.

Gurujee Kumaran Swami, Vice Chairman of SRAM & MRAM Group added: “We are extremely pleased with this collaboration. The state government also firmly believes in the potential of the group and the development of the semiconductor industry in the state. They are very much looking forward to the adventures that the future holds for both parties involved.”

Previously, the group invested $100 million in the 5ire blockchain ecosystem. Startup 5ire wants to be the world’s first sustainability-focused Layer 1 project (a Layer 1 network refers to a blockchain like Bitcoin, Ethereum, etc.).

Gagan Verma, co-founder of Startup Wings, quotes: “The group’s investment is a strategic investment. This will surely pave the way for future investments and developments in various sectors in the region while creating a lasting impact in a niche of its own. Our goal is also to spread our wings and develop the ecosystem around us. We are sure that this cooperation will prove fruitful for both the country and the group in the future.”

SRAM & MRAM Group currently invests through four major funds: Startup Wings, The 1st Lion, The Sindhi Angels and The 1st Lioness Fund. These funds support startups around the world, from inception to IPO and beyond. The group’s flagship portfolio companies include 5ire, Bumble Bee Flights, IMPS ENERTURE, etc.

About Startup Wings:

Startup Wings, part of the SRAM & MRAM Group, is a UK-based investment, management advisory and growth accelerator. We focus on Investor Relations and Business Consulting and aim for overall growth across multiple verticals and verticals. Our goal is to create and develop an ecosystem that contributes to job creation and revenue generation, economic growth and nation building.

The brand is headquartered in the UK with offices around the world. The group company has a diversified portfolio ranging from agricultural products to information technology, with presences spread across diverse services, industries and operations, namely neural networks, artificial intelligence, hedge fund management, FOREX management, hotel services and solutions , Information Technology, Media & Publishing, Embedded Systems and Infrastructure. For more information on SRAM & MRAM Group visit https://srammram.com/

For more information about Startup Wings, visit the website: https://thestartupwings.com/

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