Core Insights - SEALSQ and Kaynes SemiCon have established a joint venture named SEALKAYNESQ to create India's first secure semiconductor design and personalisation centre [1][2] - SEALSQ will hold a 51% stake in the joint venture, while Kaynes SemiCon will own 49%, with governance shared through a five-member board [1] - The facility will focus on advanced semiconductor test and personalisation services, integrating public key infrastructure (PKI) and post-quantum cryptography (PQC) [2][3] Company Developments - Kaynes SemiCon's CEO emphasized the collaboration's role in positioning India on the global semiconductor map and driving the country's ambition for semiconductor self-reliance [4] - SEALSQ plans to introduce various advanced components, including PQC-ready chips and secure elements, to support sectors like finance, healthcare, and defense [4][5] - SEALSQ's CEO highlighted the partnership as a means to leverage local manufacturing expertise to enter the Indian market [6] Strategic Alignment - The joint venture aligns with India's semiconductor strategy and global supply chain security initiatives, benefiting from the recently signed Swiss–India Free Trade Agreement [6] - The agreement provides customs relief for 94.7% of Swiss exports to India, which will reduce costs for imported semiconductor equipment and technology [7] Financial Overview - Kaynes Technology India, the parent company of Kaynes SemiCon, reported trailing 12-month revenue of $340 million as of mid-September 2025, with a market capitalization of $5.44 billion [7]

Core Viewpoint - SEALSQ Corp has announced a joint venture with Kaynes SemiCon to establish SEALKAYNESQ Ltd in India, focusing on semiconductor design and personalization, enhancing India's position in the global semiconductor supply chain [1][4]. Group 1: Joint Venture Details - The joint venture will create an Outsourced Semiconductor Test & Personalization (OSTP) facility at Kaynes SemiCon's site in India, enhancing capabilities with advanced testing services compliant with Common Criteria standards [2]. - SEALSQ will hold 51% of the joint venture's share capital, while Kaynes SemiCon will hold 49%, with governance shared equally [3]. Group 2: Strategic Importance - This partnership combines SEALSQ's expertise in cybersecurity and post-quantum cryptography with Kaynes SemiCon's manufacturing capabilities, aligning with India's national semiconductor strategy [4]. - The localized deployment of SEALSQ's Quantum Shield semiconductor in India aims to provide secure post-quantum computing resilience across various sectors [2][5]. Group 3: Technological Contributions - SEALSQ's portfolio includes PQC-ready chips and secure elements, which can help India secure critical sectors such as finance, healthcare, and defense against quantum computing threats [5]. - The integration of quantum technologies into semiconductor solutions is expected to enhance the security and efficiency of devices in critical industries [8]. Group 4: Market Position and Future Prospects - Kaynes SemiCon is on track to become the first company in India to deliver packaged semiconductor chips by October 2025, marking a significant milestone for India's semiconductor ambitions [9]. - The joint venture will benefit from the Swiss–India Free Trade Agreement, which will reduce costs associated with importing advanced semiconductor equipment [10]. Group 5: Financial Overview - As of mid-September 2025, Kaynes Technology's trailing twelve-month revenue was $340 million, with a market capitalization of $5.44 billion, indicating a strong financial foundation for scaling semiconductor initiatives [11].