Agrani Labs and Ananant Systems seek funding for Indian chips
Big moves are happening in India's chip scene: Agrani Labs and Ananant Systems are both chasing fresh funding.
Agrani Labs, started by former Intel and AMD execs, is wrapping up a $50 million round with Peak XV Partners and 360 One.
At the same time, Ananant Systems wants around $5 million from the Uttar Pradesh government and will also tap the Research, Development and Inclusion (RDI) fund to raise additional capital to boost its 5G and 6G tech.
Agrani Labs valuation to reach $160 million-$200 million
Agrani Labs's valuation is set to jump from $35 million last year to between $160 million and $200 million thanks to this new investment, showing just how hot India's semiconductor sector is right now.
Both startups are riding the wave of India's Semicon 2.0 scheme, which aims for a full chip ecosystem and has already caught global attention (like Infineon buying Bengaluru's C2i Semiconductors).