Agnit Semiconductors raises ₹24 crore to boost production

Indian semiconductor startup Agnit Semiconductors has raised $2.6 million (nearly ₹24 crore) in a round led by Shastra VC, with participation from existing investors 3one4 Capital and Zephyr Peacock. This comes amid Agnit's plans to scale up gallium nitride (GaN) semiconductor production and expand into telecom and electronics. The company will use new funds to scale production of GaN components.