Funding · Government, Defense & Space

Raana Semiconductors in talks for ₹100 Cr Series A

By Startup Enthusiast · 22 August 2026

What they do

Raana designs and manufactures CZ crystal-growth systems for semiconductors, solar, defence and atomic energy

It is in advanced talks to raise ₹100 Cr ($10.4 Mn) Series A led by an undisclosed Indian VC, closing by October 2026

Proceeds will scale equipment from 6-inch to 12-inch, refine silicon-growth process and build a domestic supplier ecosystem

Raana Semiconductors is in advanced talks to raise a ₹100 Cr ($10.4 Mn) Series A round.
An undisclosed Indian VC is expected to lead with a cheque of ₹50-₹60 Cr.
7-8 other investors are likely to participate, and some existing backers may double down.
The company expects to close the round by October 2026.
It raised a $3 Mn seed round about 7 months earlier, led by Equirus Innovatex Fund and Artha Venture Fund.
Proceeds will be used to scale CZ crystal-growth equipment from 6 inches to 12 inches.
30%-40% of capital will go to refining the silicon-growth process, and the rest to developing a domestic vendor base and hiring talent.

Raana supplies systems to national labs and defence customers like BARC, DRDO, IGCAR, RRCAT, C-MET and NPL.
Most of its revenue comes from national laboratories and defence customers.
The company initially worked on multiple crystal-growth technologies but sharpened focus on CZ technology in 2019.
It plans to eventually target semiconductor manufacturers as a key customer segment.

Raana designs and manufactures CZ crystal-growth systems for single crystals used in semiconductor, solar, defence, photonics and atomic-energy applications.
The CZ process melts high-purity silicon into a single-crystal ingot, which is sliced into wafers for solar cells and semiconductor chips.
It is upgrading its 6-inch crystal-growth system to a 12-inch system for semiconductor-grade silicon and solar applications.
Most revenue comes from national laboratories and defence customers such as DRDO labs, atomic-energy labs and defence PSUs.
Revenue was ₹10.5 Cr in FY ended March 2026.
The company was founded in 2015 and is based in Hosur, Tamil Nadu.
It has a vice president of technology, Avinash Kumar.

Scale CZ crystal-growth equipment from 6 inches to 12 inches.
Fine-tune the silicon-growth process, with 30%-40% of Series A capital allocated for this.
Develop a domestic supplier ecosystem and hire talent.
Establish a pilot silicon-manufacturing plant in Tamil Nadu.
In the near term, sell CZ equipment to solar manufacturers for wafer and solar-cell production.
Eventually target semiconductor manufacturers as key customers.

Undisclosed Indian VC (lead) — An Indian venture capital firm, identity not disclosed.
Equirus Innovatex Fund (lead) — Led the seed round.
Artha Venture Fund (lead) — Co-led the seed round.

Product: Indigenously designed Czochralski monocrystalline silicon ingot growth equipment and crystal growth systems
Customers: Solar cell manufacturers and semiconductor wafer producers
How it makes money: Direct sale of turnkey silicon crystal growth equipment, process support, and engineering systems
What sets it apart: Builds indigenous 10 to 12-inch diameter CZ ingot growers to replace imported crystal-growing machinery in India