AGNIT Semiconductors raises $2.6 million, bets on gallium nitride chips for telecom and defence

Bangalore-based deep-tech startup AGNIT Semiconductors raised $2.6 million in a seed extension equity round led by Shastra VC, marking the fund’s first investment in India’s semiconductor sector. The round also witnessed participation from existing investors 3one4 Capital and Zephyr Peacock, which had invested $3.5 million in the seed round. The company, backed by former Cognizant CEO Lakshmi Narayanan, did not disclose the latest valuation after this round.
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