Raana Semiconductors Secures $3M for CZ Silicon Ingot Growth

Raana Semiconductors Pvt. Ltd. (RSPL) has successfully secured $3 million in a seed funding round led by Equirus Innovatex Fund and Artha Venture Fund. This round also saw involvement from IvyCap Ventures, PointOne Capital, CIIE Initiatives (IIMA Ventures), and angel investor Garimella Laxminarayana. This achievement marks the company’s initial institutional funding, collected entirely through an equity round.

Utilisation of Funds for R&D and Product Development

The funds will be directed towards enhancing research and development as well as product innovation concerning homegrown Czochralski (CZ) silicon ingot growth systems. Raana Semiconductors is currently concentrating on developing systems that will be able to produce solar-grade silicon ingots sized between 10 and 12 inches. The company also has a strategic plan to eventually produce semiconductor-grade wafers.

Company Background and Market Position

Established over ten years ago, Raana Semiconductors is engaged in the creation of CZ-based crystal growth machinery and single-crystal materials. It designs and delivers complete silicon ingot growth systems, encompassing installation, commissioning, and ongoing support, typically sourced from international suppliers.

Industry Partnerships and Government Orders

Currently, RSPL stands out as the sole private Indian firm that is dedicated exclusively to CZ crystal growth equipment. The company has collaborated with prestigious institutions like BARC and IGCAR, and has undertaken projects under the Ministry of Defence’s iDEX initiative. For the fiscal year 2026, the firm has secured confirmed orders worth Rs 12 crore from various government departments and national laboratories.

Plans for Commercialisation of Solar-Grade CZ Systems

Raana Semiconductors plans to bring its solar-grade CZ systems to market within the next 18 months, focusing on large-scale silicon ingot production aimed at domestic solar manufacturers.