MIC Electronics, Singapore’s Neo Semi partner for semiconductor and AI energy

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MIC Electronics, Singapore’s Neo Semi partner for semiconductor and AI energy

MIC Electronics, Singapore’s Neo Semi partner for semiconductor and AI energy

Industry News
Jul 31,25

MIC Electronics has signed an MoU with Singapore-based Neo Semi SG to explore semiconductor IP, AI-driven energy logistics, and circular electronics, marking a strategic step in high-tech manufacturing.

MIC Electronics, Singapore’s Neo Semi partner for semiconductor and AI energy

New Delhi

MIC Electronics Limited, a public-listed company with a strong legacy in smart infrastructure and electronics manufacturing, has signed a preliminary, non-binding Memorandum of Understanding (MoU) with Neo Semi SG Pte Ltd, a Singapore-based deep-tech platform company. This strategic alliance marks MIC’s planned entry into innovation-led sectors, including semiconductor IP, AI-powered 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 coincides with India’s accelerated efforts to achieve self-reliance in electronics and renewable energy through flagship programmes such as Make in India and Aatma Nirbhar Bharat. MIC’s initiative supports the national objective of strengthening domestic capabilities in high-technology sectors and creating a future-ready manufacturing ecosystem. The partnership will enable MIC to adopt next-generation technologies that promote digital inclusion, sustainability, and international competitiveness.

Neo Semi SG operates across Singapore, the UAE, India, and the United States, focusing on advanced semiconductor IP, AI-based clean energy logistics, and circular electronics via sustainable recommerce platforms. Industry forecasts estimate that these sectors collectively represent a global market opportunity exceeding USD 50 billion by FY28.

The collaboration seeks to combine Neo Semi’s innovation capabilities and global IP platforms with MIC’s execution strength, extensive public-sector experience, and its 100,000 sq. ft. certified manufacturing base. Together, they aim to create an Indo-global platform for rapid, scalable deployment of ESG-compliant technologies.

Under the MoU, MIC Electronics will retain exclusive negotiation rights for 90 days. During this time, both parties will conduct due diligence, financial assessments, and explore the structure of definitive agreements. The MoU is non-binding apart from confidentiality and exclusivity clauses. Any subsequent transaction will be subject to board approvals, regulatory permissions, and the signing of binding agreements.

With a legacy of over three decades, the Hyderabad-headquartered MIC Electronics Limited is a trusted provider of advanced electronics solutions across Railways, Power Electronics, Medical Electronics, and LED Displays & Lighting. Known for its engineering expertise and innovation, MIC has delivered critical infrastructure for transport networks, smart cities, and public-sector enterprises across India. Its capabilities span product design, manufacturing, and systems integration, making it a reliable partner for scalable, high-tech solutions.

MIC also holds BIS certification for LED Lighting and Interactive LED Display Boards, reflecting its commitment to quality and national standards. With a renewed focus on sustainability, digital transformation, and national priorities such as Make in India and Aatma Nirbhar Bharat, MIC Electronics is well-positioned to support India’s transition towards intelligent infrastructure and technological self-reliance.