India, Aug. 22 -- Semiconductor startup Raana Semiconductors is in advanced talks to raise Rs.100 Cr (around $10.4 Mn) in its Series A funding round, founder and CEO Rajasekar Elavarasan told Inc42.

Without disclosing the investors' identities, Elavarasan said an Indian VC is expected to lead the round with a cheque of around Rs.50-Rs.60 Cr.

Another seven to eight investors are likely to participate in the round, while some of the startup's existing backers are also considering doubling down on their investments, he added.

The startup expects to close the Series A round by October.

Raana plans to use the Series A proceeds primarily to scale its Czochralski (CZ) crystal-growth equipment from 6 inches to 12 inches, fine-tune the silicon...