Bengaluru-based semiconductor startup Nova Spectral AI has successfully raised ₹21.15 crore or $2.25 million in its latest funding round. According to reports from The Economic Times, the funding round was led by Shastra VC and saw participation from Equirus InnovateX Fund as well as other angel investors. The startup, founded by Anish Priyadarshi and Sanjeev Kumar, both alumni of IIT Kanpur, is focused on developing short-wave infrared sensor chips for defence drones, surveillance systems, and defence applications.
The company is developing short-wave infrared (SWIR) sensor chips that can help cameras capture images in low-light conditions and through smoke, haze, and fog. As reported by The Economic Times, Nova Spectral AI is planning to make these sensors up to 100 times cheaper compared to conventional technology. The startup will use indium arsenide-based colloidal quantum dots, which are small semiconductor particles that can be transformed into liquid form and deposited on a silicon chip. This approach aims to reduce the cost from the current $5,000-10,000 per piece to around $20-30.
According to Priyadarshi's statements to The Economic Times, the SWIR sensor is designed to capture images that can help identify objects, read signboards, and support applications such as facial recognition. The technology can be used across various sectors including defence drones, surveillance systems, cars, smartphones, robotics, and defence applications. Currently, SWIR sensors are worth thousands of dollars and are mostly imported into India, making a significant portion of India's defence programme dependent on foreign supplies.
Unlike most semiconductor startups in India that outsource manufacturing, Nova Spectral AI is planning to develop the sensor's manufacturing process domestically. As reported by The Economic Times, the company has received a go-ahead in principle at IISc Bengaluru and plans to establish a manufacturing process in India. The founders noted that conventional SWIR sensors using gallium arsenide (InGaAs) are developed by laboratories in the country, but the high-cost InGaAs components require complex manufacturing processes that make them expensive and dependent on foreign supplies.
With the latest funding round, Nova Spectral AI is planning to develop a field-ready prototype within 18 months. According to The Economic Times, the company also plans to build a technical team and establish the manufacturing process in India. The startup's approach of using colloidal quantum dots instead of conventional InGaAs-based technology represents a significant shift toward more cost-effective and domestically manufacturable SWIR sensor technology.
