Zoho plans $700 mn foray into chipmaking, seeks incentives from govt

Indian software firm Zoho is planning a foray into chipmaking and seeking incentives from the federal government, two sources with direct knowledge of the proposal said, with one of them pegging the investment plan at $700 million.

Zoho, established in 1996 and now headquartered in India’s Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes of Microsoft and Salesforce.

It is the latest company to seek financial sweeteners from the government to set up a chip fabrication plant.