AGNIT Semiconductors seeks funding, eyes GaN factory under Semicon 2.0
AGNIT Semiconductors, a Bengaluru startup, is planning to raise funds and may team up with partners to set up a gallium nitride (GaN) chip factory.
This move is part of India's new Semicon 2.0 program, which aims to boost advanced tech manufacturing.
CEO Hareesh Chandrasekar shared that they're waiting for the program's guidelines and are ready to pitch their proposal once things are official.
IISc spinout pilots GaN chips
Started at IISc, AGNIT makes GaN materials and chips used in things like radars and jammers, and they're running five pilots with customers and have started pilot exports of wafers worldwide.
Backed by $7.47 million from investors like 3one4 Capital, they're eyeing big markets in telecom and power electronics.
With global demand for GaN expected to hit $51.35 billion by 2035, AGNIT looks set for some exciting growth ahead.