India, March 16 -- Bengaluru-based AGNIT Semiconductors has raised $2.6 Mn (around Rs.24 Cr) in an extension of its seed funding round led by Shastra VC, with participation from existing backers 3one4 Capital and Zephyr Peacock.

With the fresh capital, AGNIT plans to scale production to 1 Lakh gallium nitride (GaN) components over the next two years as well as expand into telecom infrastructure and high-efficiency power semiconductor devices.

Cofounder and CEO Hareesh Chandrasekar told Inc42 that the capital would help the startup scale the production volume of three semiconductor chips it is piloting as of now.

Launched in 2019 by a team of industry professionals Chandrasekar, Digbijoy Neelim Nath, Madhusudan Atre, Mayank Shrivastava,...