Ltd. (RSPL) has announced that it has raised about USD 3 million in a seed equity round, marking its first institutional fundraise. The capital will be used for R&D and product engineering of indigenously designed Czochralski (CZ) monocrystalline silicon ingot growth systems. RSPL, which is based in Tamil Nadu, plans to initially focus on producing 10–12 inch solar-grade silicon ingots, with a longer-term roadmap towards semiconductor-grade wafer manufacturing, according to a report by BW Disrupt. “Raana Semiconductors’ patent-backed crystal growth innovations position it as a key enabler of Atmanirbhar Bharat [Self-Reliant India] in semiconductor and advanced materials technologies.”“This funding represents an important milestone for RSPL as we advance the development of indigenous, high-diameter silicon ingot manufacturing systems,” said Rajasekar Elavarasan, Founder & CEO of RSPL, according to a report by Manufacturing Today. “It strengthens our efforts to contribute meaningfully to India’s semiconductor growth story and the nation’s goal of technological self-reliance.”