Indian AI Chip Startup Agrani Labs Reportedly Raising $108-110M for AI Chips
Agrani Labs is reportedly raising $108-110M at a $350M valuation, led by Peak XV with Google and Samsung Ventures. Here’s what we know so far.
Agrani Labs Reportedly Close to Raising $108-110 Million for Indian AI Chips
Bengaluru-based AI chip startup Agrani Labs is reportedly in the final stages of raising $108-110 million, according to The Economic Times, citing people familiar with the discussions. This is a report, not a completed announcement. Neither the company nor the investors have confirmed it.
What has been reported
The round could value Agrani Labs at about $350 million.
Peak XV Partners is reportedly leading and expected to contribute more than half.
Google, Samsung Ventures and Stargazer, the investment fund of Groww’s founders, are also expected to participate.
Another outlet, Moneycontrol, names HCLTech and 360 One among the possible investors. The final list is not confirmed.
The deal is expected to close within about a month, and the terms may still change.
About Agrani Labs
Agrani Labs designs AI chips and the software to run them for enterprise and data-centre use.
It was founded by four semiconductor veterans from Intel and AMD: Dheemanth Nagaraj (CEO), Ashok Jagannathan, Srikanth Nimmagadda and Rajesh Vivekanandham.
It came out of stealth in January 2026 with an $8 million seed round led by Peak XV.
Reports say it aims to be compatible with Nvidia’s CUDA software, which would make it easier for companies to try its chips.
Why it matters for India’s AI ecosystem
AI runs on chips, and most come from one company. Nvidia dominates AI hardware. A credible Indian alternative would give businesses more choice.
The cost of running AI is a big worry for leaders. Every chatbot answer or document analysis needs computing power. Cheaper, efficient hardware could eventually help bring AI costs down, though that is a long way off.
Big names are paying attention. Reported interest from Google, Samsung Ventures and Stargazer suggests investors see deep tech as the next big area after consumer apps.
India is moving from using AI to building it. Designing chips, not just assembling them, is a key step in the country’s semiconductor plans.
