SOURCE: AFI
AGNIT Semiconductors, a promising startup focused on Gallium Nitride (GaN) semiconductors, has secured $3.5 million in seed funding. The investment round was led by renowned venture capital firms 3one4 Capital and Zephyr Peacock, marking their first foray into India’s semiconductor sector. Lakshmi Narayanan, former CEO of Cognizant and a prominent angel investor, also participated in the funding round.
AGNIT is a pioneer in the field of GaN semiconductors, a technology known for its superior performance and efficiency compared to traditional silicon-based semiconductors. The startup’s innovative approach has garnered significant attention and support from the Indian government.
AGNIT is one of the initial startups incubated by the Gallium Nitride Ecosystem Enabling Centre and Incubator (GEECI), a pioneering initiative established by IISc and managed by the Foundation for Science Innovation and Development (FSID). The GEECI is funded by the Ministry of Electronics and Information Technology (MeITY), underscoring the government’s commitment to fostering the growth of India’s semiconductor industry.
The fresh infusion of capital will enable AGNIT to accelerate its research and development efforts, expand its manufacturing capabilities, and strengthen its market presence. The company aims to develop cutting-edge GaN-based devices with a wide range of applications, including power electronics, wireless communication, and high-frequency electronics.