Bengaluru-based semiconductor startup Nova Spectral AI has raised Rs 21.15 crore (about $2.25 million) in a round led by Shastra VC, with participation from the Equirus InnovateX Fund and angel investors. The deal, reported on 27 October 2026, is a fresh data point for startup funding in India in the deeptech and semiconductor space.
What Nova Spectral AI builds
Founded by IIT Kanpur alumni Anish Priyadarshi and Sanjeev Kumar, the startup is developing a short-wave infrared (SWIR) sensor that helps cameras capture images in low light and through smoke, haze and fog. The founder said the aim is to make these sensors up to 100 times cheaper than existing technology.
The company plans to develop an infrared image sensor chip for defence drones and surveillance systems. Beyond defence, the potential applications named include robotics, cars and smartphones — all markets where a low-cost infrared sensor could open up uses that are currently too expensive.
Why this round matters
Semiconductor and sensor startups face long development cycles and heavy R&D costs, so early institutional backing matters more than in software. A lead investor in Shastra VC, which focuses on early deeptech, plus a fund participant in Equirus InnovateX, gives Nova Spectral AI both capital and a network for the chip-development road ahead.
The defence angle is also significant. Drones and surveillance systems are among the first buyers for infrared sensing, and an Indian-built, low-cost sensor fits the push for domestic defence manufacturing. If the cost claim holds, the same technology could later move into consumer and automotive products at scale.
Why it matters for founders
Deeptech funding in India still flows to teams solving a hard, specific technical problem with a clear first customer. Nova Spectral AI's pitch — a 100x cost reduction for a defined defence use case — is the template: prove the physics, name the buyer, then expand to adjacent markets.