Nova Spectral AI raises seed funding led by Shastra VC

Semiconductor startup Nova Spectral AI has raised Rs 21.15 crore (around $2.25 million) in a seed funding round led by Shastra VC.

The round also saw participation from Equirus InnovateX Fund and angel investors.

The Bengaluru-based startup will use the fresh capital to expand its team and develop a field-ready prototype within the next 18 months.

Founded in 2026 by Anish Priyadarshi and Sanjeev Kumar, Nova Spectral AI develops short-wave infrared (SWIR) image sensor chips for defence, drones, robotics and autonomous vehicles. Using colloidal quantum dots and silicon CMOS technology, its sensors are designed to capture images in low light, haze and smoke.

The startup aims to reduce sensor costs by up to 100 times compared with conventional technology and lower India's dependence on imported infrared sensors.

Indian semiconductor startups are attracting investors as government incentives and a large pool of engineering talent make the sector more attractive for private investment, particularly in chip design and intellectual property.

According to a Tracxn report, India’s semiconductor industry has raised $473 million in 2025, compared with $114 million in 2024. In 2026 so far, the sector has secured $228 million in funding.

The report noted that large private equity deals have pushed the deal value in the sector. In September last year, ILJIN Electronics raised $198 million and Bengaluru-based Tessolve Semiconductor attracted $150 million in funding. Earlier in March this year, Kochi-based SFO Technologies bagged $82 million in funding.