Founder Thesis India's Semiconductor Bet: Hareesh Chandrasekar on AGNIT's GaN Technology Stack
When China banned gallium exports, it didn't hurt AGNIT Semiconductors, it made them essential. Hareesh Chandrasekar reveals how geopolitical supply chain wars created a $13 million opportunity and why India's first GaN chip company is competing with billion-dollar rivals on just $5 million.
In this episode, Hareesh Chandrasekar, Co-Founder and CEO of AGNIT Semiconductors, shares the unconventional journey of commercializing 18 years of IISc research into India's first indigenous GaN chip company. From leveraging ₹300 crores in government-funded R&D infrastructure to competing with billion-dollar global players on a $4.87 million budget, Hareesh breaks down the capital-efficient playbook for deep tech startups.
He reveals how China's gallium export restrictions created sovereign demand for AGNIT's chips, why defense contracts came before consumer markets, and the brutal reality of scaling from lab prototypes to 100,000 chips in 12 months. With three chips currently in field trials for defense applications and expansion planned into electric two-wheelers, AGNIT is at the forefront of India's semiconductor manufacturing revolution.
He shared this candid journey with host Akshay Datt, exploring the intersection of geopolitics, deep tech commercialization, and the India Semiconductor Mission 2.0. This conversation is essential for founders tackling hardware, investors evaluating deep tech, and anyone interested in India's strategic technology ambitions.
In this episode, you'll discover:
👉How Hareesh Chandrasekar spent 18 years building GaN expertise at IISc before raising a single VC dollar, using institutional R&D as non-dilutive capital to de-risk AGNIT Semiconductors
👉Why semiconductor startups take 2-4 years and $2 million just to reach VC-fundable stage, and how the deep tech timeline differs radically from software
👉The military-to-commercial strategy: starting with defense jammers, radars, and drone communication chips before pivoting to high-volume electric vehicle markets
👉How China's control of 87-90% of global gallium reserves and export restrictions created guaranteed sovereign demand for indigenous semiconductor supply chains
👉AGNIT's fab-lite model: controlling IP and critical manufacturing steps while outsourcing volume production, competing with $300M+ funded rivals on $5M
👉The make-or-break challenge: scaling from hundreds to 100,000 chips in 12 months to validate foundry partnerships and achieve commercial viability
👉India's semiconductor ecosystem reality: zero domestic wafer production, complete import dependence, and why $500M GaN foundries are more achievable than $20B silicon fabs
👉Why pitch decks work for investors but defense customers demand working prototypes, data sheets, and field trial results before taking startups seriously
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Disclaimer: The views expressed are those of the speaker, not necessarily the channel