13 Semiconductor Startups Poised for Success in 2024, According to Investors

Semiconductor startups have had a remarkable year in 2023, with record-breaking funding and a surge in interest from investors. As the demand for chip technology continues to grow, VCs have identified 13 promising startups that are poised for success in the semiconductor sector in 2024. German startup FaradaIC is developing miniaturized gas-sensing chips using novel materials and techniques. With growing concerns over climate change, the demand for gas-sensing chip applications in health, energy, and foodtech is on the rise. Innatera, a spin-off from the Delft University of Technology in the Netherlands, is focused on developing neuromorphic processors based on the structures of biological brains. These processors have applications in true presence detection, voice recognition, and autonomous vehicles. Denmark-based Skycore Semiconductors is building high-voltage integrated circuits that cater to a wide range of applications, from consumer electronics to power grids. With the increasing electrification and digitization of our world, the demand for high-performance chips with design flexibility is on the rise. Mignon, a UK-based startup, is revolutionizing AI acceleration with its advanced AI accelerator architecture design technology. With up to 10k times improvements in on-chip inference, Mignon's design enables intelligent compute on energy-efficient devices with limited internet coverage. Black Semiconductor, also based in Germany, is taking photonic-based microchip technology out of research labs and into mass-production. Photonic interfaces on chips can process data significantly faster than standard chips, making them crucial for AI-based systems and data centers. HIDRA, a UK startup spinning out from the UK's National Physical Laboratory, has developed semiconductor wafer imaging technology that improves semiconductor yield. By rapidly capturing high-resolution images, HIDRA ensures maximum chip count on one wafer, boosting efficiency. Akhetonics, a German startup, is building a photonic general-purpose CPU/GPU that overcomes the limitations of electronic devices. This technology promises highly parallel processing and energy efficiency, paving the way for advanced computing systems. LIGENTEC, based in Switzerland, manufactures photonic integrated circuits (PIC) used in quantum tech, ground-to-space communications, and biosensors. These circuits offer advantages such as small carbon footprints, high scalability, low cost, and power efficiency. Quobly, a French startup, is working on quantum computing using silicon spin qubit processors. These processors can operate at higher temperatures, simplifying and reducing the cost of cooling technology required for quantum systems. Salience Labs, a UK-based startup, is developing a multi-chip processor that combines photonics and traditional microelectronics. This combination makes their chips compatible with current systems while meeting the growing demands of AI models. SEMRON, a German startup, is building AI chips for autonomous vehicles, smart manufacturing, healthcare monitoring, and smart home devices. Their participation in Intel Ignite's accelerator program highlights their potential for success. GEMESYS, a German startup, is focused on neuromorphic computing, imitating the information-processing mechanisms of the human brain. Their chip design trains neural networks more efficiently, reducing costs and increasing performance. Synthara, a Swiss startup, enhances microcontroller (MCU) platforms with their computational memory technology. This technology makes MCUs 50x more efficient, allowing developers to experiment with neural network and signal processing algorithms. As the semiconductor sector continues to thrive, these 13 startups are well-positioned to make significant contributions and drive innovation in 2024. Investors are keeping a close eye on these promising ventures as they have the potential to shape the future of chip technology.