India’s only vertically integrated GaN semiconductor startup AGNIT Semiconductors raises $3.5 million
- AGNIT Semiconductors, India’s only vertically integrated Gallium Nitride (GaN) semiconductor startup, has raised $3.5 million in a seed funding round led by 3one4 Capital and Zephyr Peacock, marking their first investment in the semiconductor space in India.
- The Bengaluru-based startup, which has now raised a total of $4.87 million, will use the new funds to scale production, expand commercial operations, and target emerging markets such as consumer electronics and electric two-wheelers.
- AGNIT aims to sell 100,000 semiconductor chips over the next year, contributing to India’s focus on innovation and self-reliance in technology.
- The company designs and manufactures GaN materials and electronic components primarily for radio-frequency applications, offering significant advantages in performance and cost for the defense and telecommunications industries.
- CEO Hareesh Chandrasekar emphasized the potential of GaN technology across various sectors, including 5G and fast charging, and highlighted the importance of support from institutions like IISc and MeitY in scaling their operations.
AGNIT Semiconductors, which claims to be India’s only vertically integrated Gallium Nitride (GaN) semiconductor startup, has raised $3.5 million in a seed funding round led by 3one4 Capital and Zephyr Peacock.
This marks 3one4 Capitals’ and Zephyr Peacocks’ first investment in India’s semiconductor space
Along with two new investors, the round also witnessed participation from Lakshmi Narayanan, the former CEO of Cognizant and noted angel investor.
Purpose of fundraising
The 5-year-old Bengaluru-based startup has raised $4.87 million in total so far and plans to utilise the fresh funds to scale its production and commercial operations.
Additionally, the startup is set to expand its offerings into new market segments, targeting consumer electronics and electric two-wheelers to cater to the evolving fast-changing needs.
Eyeing a sale of 100,000 semiconductor chips in the next 12 months, AGNIT aims to contribute to India’s push for innovation and self-reliance.
“As we close our seed round with 3one4 Capital and Zephyr Peacock, it marks an extraordinary five-year journey where we’ve pioneered Gallium Nitride (GaN) technology to revolutionize specialized applications, augmenting traditional silicon,” said Hareesh Chandrasekar, CEO and Co-founder of AGNIT Semiconductor.
What does AGNIT Semiconductors do?
AGNIT Semiconductors designs and manufactures GaN materials (wafers) and electronic components primarily for radio-frequency applications.
AGNIT’s GaN components offer compelling performance-price-footprint advantages for the defense and telecommunication industries.
“GaN holds immense potential across sectors like 5G, fast charging, PV inverters, and beyond—its full impact is yet to be realized. Achieving this requires unwavering support, and we’ve been fortunate to have the backing of IISc and MeitY. As we scale our market presence, we’re also committed to strengthening our leadership team to steer the company towards greater success,” Chandrasekar added.
Here’s a summarized breakdown of the information regarding AGNIT Semiconductors from the provided content:
Startup:
- Name: AGNIT Semiconductors
- Location: Bengaluru, India
- Focus: Vertically integrated Gallium Nitride (GaN) semiconductor technology
Founders:
- Hareesh Chandrasekar (CEO and Co-founder)
Funding Details:
- Funding Amount: $3.5 million
- Funding Series: Seed round
- Total Raised to Date: $4.87 million
Investors:
- 3one4 Capital – Lead investor, marks their first investment in the semiconductor space in India.
- Zephyr Peacock – Co-lead investor, also making their first investment in India’s semiconductor sector.
- Lakshmi Narayanan – Former CEO of Cognizant, noted angel investor, also participated in the funding round.
Purpose of Fundraising:
- To scale production and commercial operations.
- To expand into new market segments, specifically targeting consumer electronics and electric two-wheelers.
- Aiming for the sale of 100,000 semiconductor chips in the next 12 months.
Key Focus Areas of AGNIT Semiconductors:
- Designs and manufactures GaN materials and electronic components for radio-frequency applications.
- Targets various industries including defense, telecommunications, 5G, fast charging, and photovoltaic inverters.
This summary encapsulates the key details of AGNIT Semiconductors and their recent funding activities.