Bengaluru’s AGNIT Semiconductors Raises $2.6 Mn to Scale GaN Chip Production

AGNIT Semiconductors has raised $2.6 million (about ₹24 crore) in an extension of its seed funding round led by Shastra VC, with participation from existing investors 3one4 Capital and Zephyr Peacock.

The fresh capital will help the Bengaluru-based startup scale production of gallium nitride (GaN) components to 1 lakh units over the next two years. The company also plans to expand into telecom infrastructure and high-efficiency power semiconductor devices.

Co-founder and CEO Hareesh Chandrasekar said the funding will primarily support scaling production of three semiconductor chips currently being piloted by the startup.

Founded in 2019 by Chandrasekar along with Digbijoy Neelim Nath, Madhusudan Atre, Mayank Shrivastava, Muralidharan Rangarajan, Shankar Kumar Selvaraja and Srinivasan Raghavan, AGNIT focuses on gallium nitride semiconductor technology. The company designs and produces GaN materials and electronic components mainly for radio-frequency (RF) applications.

Before this extension round, AGNIT had raised $3.5 million in seed funding in 2024. Excluding the latest funding, the startup had previously secured $4.87 million (around ₹41 crore) from investors.

Chandrasekar also said the company has paused plans to build consumer-focused semiconductor components, including those for electric vehicles. Instead, it is prioritising strategic sector applications where demand for GaN technology is stronger.

The funding comes as India ramps up efforts to build its semiconductor ecosystem. According to reports, the government is planning a ₹1 lakh crore semiconductor fund to support chip design, manufacturing equipment and supply chain development.

With policy support increasing, investors are also backing emerging chip startups, including companies such as C2i, Raana Semiconductors and Sensesemi in recent months.