Bengaluru-based deeptech startup Nova Spectral AI has raised approximately ₹21.15 crore ($2.25 million) in seed funding led by Shastra VC, with participation from the Equirus InnovateX Fund and technology angel investors. The round, announced on 27 October 2026, is a notable data point for startup funding in India in semiconductors.
Founded earlier this year by Anish Priyadarshi and Sanjeev Kumar, Nova Spectral AI develops short-wave infrared (SWIR) image sensor chips using lead-free, indium arsenide-based colloidal quantum dots layered onto standard silicon CMOS structures. The technology is designed to let machines see in extreme low light, fog and smoke.
The company plans to use the funds to expand its specialised technical team, accelerate research and development of its quantum-dot sensor stack, and deliver a field-ready hardware prototype within the next 18 months. Its target markets include defence intelligence, surveillance and reconnaissance drone operations, robotics and commercial autonomous transport.
It has in-principle approval to incubate at IISc Bengaluru, a detail that matters for deeptech: proximity to research talent and labs can be as valuable as capital in the early years of a hardware company.
Indian deeptech funding is increasingly flowing to the sensing and silicon layer rather than only to applications on top of it. Nova Spectral AI's round shows investors are willing to back first-principles hardware — provided the team, the prototype timeline and the market are all clearly stated.
Why it matters for founders
Deeptech founders should sell the prototype timeline, not just the technology. A field-ready prototype in 18 months, a named incubator and a defined first market turn a research idea into a fundable plan.