AGNIT Semiconductors, a vertically integrated Gallium Nitride (GaN) semiconductor startup, has raised $3.5 million in seed funding round co-led by 3one4 Capital and Zephyr Peacock, marking their first investment in India’s semiconductor sector.
The round also saw participation from Lakshmi Narayanan, the former CEO of Cognizant and noted angel investor. The 5-year-old Bengaluru-based startup has raised $4.87 in total so far.
The newly raised funds will be used to scale its production and commercial operations. Additionally, the company 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. The company is also eyeing a sale of 100,000 semiconductor chips in the next 12 months.
Pranav Pai, Founding Partner & CIO, 3one4 Capital, said, “Agnit Semiconductors is breaking new ground by advancing Gallium Nitride technology in India, a critical component for the future of global electronics and energy systems. Agnit represents the new wave of Indian deep tech startups – born from rigorous research, focused on critical technologies, and positioned for global impact. What sets Agnit apart is its end-to-end capability – from materials to ASICs. This vertical integration, combined with their patented technologies, gives them a unique advantage in a competitive global market. We are excited to partner with Agnit as they scale their operations and take Indian semiconductor technology to the global market.”
Pankaj Raina, Managing Director, Zephyr Peacock, said, “The demand for GaN semiconductors is growing worldwide as they enable improved performance and energy efficiency, supporting the development of smaller and more cost-effective devices. Agnit has developed extensive know-how and proprietary processes to develop high-quality GaN materials and devices. We believe that the company will become a key stakeholder in the semiconductor supply chain in India and globally, and we are excited to partner with them in their journey.”
Hareesh Chandrasekar, CEO and Co-founder of AGNIT Semiconductor said, “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. 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.”
