🌞🔬 Strengthening India’s semiconductor self-reliance! Raana Semiconductors Private Limited (RSPL) has raised $3 million in seed funding, marking its first institutional capital round. The funding was led by Equirus Innovatex Fund and Artha Venture Fund, with participation from IvyCap Ventures, PointOne Capital, CIIE Initiatives, and angel investor Garimella Laxminarayana. Prequate Advisory acted as the strategic advisor. 💼✨ The capital will be used to develop indigenous Czochralski (CZ) monocrystalline silicon ingot growers capable of producing 10–12 inch diameter ingots. This innovation is aimed at scaling solar-grade silicon manufacturing in India and reducing reliance on imports. ⚙️🌍 Sunder Nookala of Equirus Innovatex Fund highlighted the strategic importance of domestic crystal growth for critical technologies in defence, semiconductors, solar, and medical sectors. Rajasekar Elavarasan, Founder & CEO of RSPL, called the funding a milestone in advancing indigenous silicon ingot systems and contributing to India’s semiconductor growth story. 🚀🇮🇳 Anirudh A D. of Artha Venture Fund noted RSPL’s role in addressing structural gaps in renewable and advanced manufacturing, while Vikram Gupta of IvyCap Ventures praised the company’s strong technical foundation and deeptech-led innovation. 🤝🔧 With over a decade in the semiconductor sector and a revenue CAGR of 30%, RSPL has already secured Rs 12 crore in orders from MeitY and National Laboratories for FY 2025-26. The company plans gigawatt-scale production within 18 months, enabling semiconductor-grade wafer manufacturing and targeting revenues of over Rs 200 crore in the next 3–4 years. 📈🌐 #Semiconductors #RaanaSemiconductors #DeepTech #SolarEnergy #AtmanirbharBharat #InnovationIndia #CleanTech #AdvancedManufacturing
Congratulations on securing seed funding for such an innovative project; this marks a significant step towards enhancing India's semiconductor self-reliance and technological independence.