CG Power and Industrial Solutions Limited submitted a regulatory filing containing a press release issued by its wholly owned subsidiary, Axiro Semiconductor Private Limited, dated 29th October 2026.
The disclosure announces that Axiro Semiconductor has made a strategic investment in ThinSiC Inc., a Silicon Valley-based semiconductor company developing next-generation low-cost silicon carbide (SiC) power devices. Axiro participated as the Lead Investor in ThinSiC's latest financing round.
Along with the investment, Axiro has entered into a long-term commercial partnership with ThinSiC to support the development and commercialization of ThinSiC's silicon carbide power device technology.
The investment advances Axiro's strategy of building a broad, high-performance semiconductor portfolio, extending from its core RF, mmWave, and advanced connectivity capabilities into power electronics. Silicon carbide is emerging as a viable alternative to silicon for applications in rail traction, industrial drives, and grid infrastructure.
Through CG Power's presence across India's power transmission and industrial infrastructure, Axiro is positioned to serve as a strategic commercial channel for ThinSiC's technology in India and beyond.
Executive Commentary
Dr. Naveen Yanduru, Chief Executive Officer of Axiro Semiconductor, stated: "We are pleased to support ThinSiC as investor and strategic partner. This investment reflects our conviction that silicon carbide will be central to the next generation of power electronics — and that cost has been the single biggest barrier to its broader adoption. At Axiro, we are building deep capabilities in RF, mmWave, and advanced connectivity, while extending into power semiconductors, where we see significant opportunity through the CG Power group's presence across India's power transmission and industrial infrastructure. ThinSiC's technology addresses exactly the cost and scalability challenges that have held high-voltage SiC back. We look forward to working closely with the ThinSiC team to translate their innovation into commercial impact."
T.S. Ravi, Founder and Chief Executive Officer of ThinSiC Inc., stated: "We are excited to have Axiro as an investor and partner. Their semiconductor expertise, their strategic vision for power, and their access to one of India's leading industrial groups would help us accelerate the commercialization our advanced SiC devices."
Company Background
Axiro Semiconductor Pvt. Ltd. is a wholly owned subsidiary of CG Power and Industrial Solutions Limited, a Murugappa Group company. The company is building high-performance semiconductor capabilities with a core focus on RF, mmWave, and advanced connectivity IC design, while expanding into power electronics and adjacent domains. The company is headquartered in Bengaluru, India.
ThinSiC Inc. is a Silicon Valley-based semiconductor company developing a low-cost, high-voltage silicon carbide power device platform for applications in electrification, power transmission, and industrial systems. The company is headquartered in Santa Clara, California.