MIC Electronics Limited, has recently signed a preliminary MoU with Singapore-based deep-tech firm Neo Semi SG Pte Ltd, marking its foray into semiconductor IP, AI-led energy logistics, and circular electronics.
Rakshit Mathur, CEO of MIC Electronics, said, “This MoU is not merely a strategic step but a commitment to India’s future. By aligning with Neo Semi’s deep-tech expertise and global IP-driven platforms, MIC intends to lead the next phase of smart, sustainable technology manufacturing in India. This aligns with India’s ambition to become a global semiconductor and energy innovation leader, and we are proud to play a key role in this journey.”
The MoU aligns with India’s push for self-reliance in electronics and clean energy under initiatives like Make in India and Aatma Nirbhar Bharat. MIC’s move supports national goals of building advanced domestic capabilities and a future-ready manufacturing ecosystem. The collaboration will help MIC adopt next-gen technologies that drive digital inclusion, sustainability, and global competitiveness.
Neo Semi SG, which operates in Singapore, the UAE, India, and the U.S., focuses on advanced semiconductor IP, AI-powered clean energy logistics, and circular electronics through sustainable recommerce. These emerging sectors are projected to offer a global market opportunity exceeding USD 50 billion by FY28.
The collaboration aims to merge Neo Semi’s innovation and global IP strengths with MIC’s execution capabilities, public-sector expertise, and its 100,000 sq. ft. certified manufacturing facility. The goal is to establish an Indo-global platform for the rapid and scalable rollout of ESG-compliant technologies.
As part of the MoU, MIC Electronics will hold exclusive negotiation rights for 90 days, during which both parties will carry out due diligence, financial evaluations, and discussions on the structure of final agreements. The MoU remains non-binding, except for confidentiality and exclusivity clauses. Any formal transaction will depend on necessary board and regulatory approvals and the execution of binding agreements.
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