19 hours Ago
India’s AGNIT Semiconductors has raised USD 3.5 million in a seed round led by 3one4 Capital and Zephyr Peacock. The round also saw participation from Lakshmi Narayanan, angel investor and former CEO of Cognizant.
The latest capital infusion takes the company’s total funding to USD 4.87 million. AGNIT, a vertically integrated Gallium Nitride (GaN) semiconductor startup based in Bengaluru, said it aims to invest fresh capital to ramp up its production and commercial operations and also expand its offerings into new market segments, targeting consumer electronics and electric two-wheelers.
The company designs and manufactures GaN materials (wafers) and electronic components primarily for radio-frequency applications. GaN and silicon carbide are third-generation semiconductors materials that offer advantages like higher energy efficiency and reduced size compared with traditional silicon-based semiconductors. The seed round marks AGNIT’s five-year journey of successfully using GaN technology for specialized applications, augmenting traditional silicon, the company said.
AGNIT said it is one of the first Indian startups incubated by the Gallium Nitride Ecosystem Enabling Centre and Incubator managed by the Foundation for Science Innovation and Development (FSID) at the Indian Institute of Science (IISc), funded by the Ministry of Electronics and Information Technology (MeITY)..
