SEALSQ Corp (NASDAQ: LAES) and the Government of Gujarat, together with Kaynes SemiCon, signed a non‑binding memorandum of understanding on January 21, 2026 to create India’s first secure semiconductor design, test, and personalization center focused on post‑quantum cryptography.
The joint venture, tentatively named SEALKAYNESQ Ltd, will be located on Kaynes SemiCon’s campus in Sanand and is slated to achieve an annual production capacity of up to 300 million post‑quantum secure chips. The facility will serve government, defense, critical infrastructure, telecommunications, automotive, IoT and digital‑identity markets, positioning Gujarat as a strategic hub for quantum‑ready silicon.
The MoU establishes a public‑private partnership model that combines state incentives, private investment and direct SEALSQ capital. While the memorandum is non‑binding, it signals that definitive agreements and timelines are forthcoming. Kaynes SemiCon’s Sanand plant is already on track to become India’s first OSAT facility to produce packaged chips by October 2025, providing a ready manufacturing base for the joint venture.
SEALSQ’s financial context underscores the significance of the deal. The company reported preliminary unaudited revenue of $18 million for 2025, a 66 % increase from the prior year, and holds over $425 million in cash as of January 13, 2026. Historically, SEALSQ has posted net losses—$21.2 million in FY 2024 on $11 million in revenue—yet management is guiding for 50‑100 % revenue growth in FY 2026, targeting $27‑$36 million. The partnership will require substantial capital, but the combination of state incentives and SEALSQ’s cash reserves positions the company to fund the venture.
CEO Carlos Moreira said the collaboration “leverages SEALSQ’s expertise in advanced semiconductor personalization to enter India’s vibrant market through a trusted local manufacturer,” adding that the joint venture will “future‑proof India’s digital infrastructure against the risks posed by quantum computers.”
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.