PE-VC Fund Investments
Agnit Semiconductors raises $2.6 M led by Shastra VC
Bengaluru-based Agnit Semiconductors has raised USD 2.6 million in an extension of its seed funding round. The investment was led by Shastra VC, with participation from existing backers 3one4 Capital and Zephyr Peacock.Founded in 2019 by Hareesh Chandrasekar, Digbijoy Neelim Nath, Madhusudan Atre, Mayank Shrivastava, Muralidharan Rangarajan, Shankar Kumar Selvaraja, and Srinivasan Raghavan, AGNIT Semiconductors specializes in gallium nitride (GaN) semiconductor technology. The company designs and produces GaN materials and electronic components primarily for radio-frequency applications.The new funds will be used to scale production to 1 Lakh gallium nitride components over the next two years and to expand into telecom infrastructure and high-efficiency power semiconductor devices, including scaling the production volume of three semiconductor chips it is currently piloting.
In Sep 2024, Agnit Semiconductors had attracted about USD 4 M from 3ONE4 Capital and Zephyr Peacock.
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