Sankalp Semiconductor, a Hubli-based semiconductor design service company, has raised $5 million from Stakeboat Capital. The company has operations in the US, Canada, Bengaluaru, Hubli and Kolkata. Majority of the funds will be primarily used for buying out some of the existing stakeholders and some portion will come into the business. The company will also use the funds to hire more engineers as its looks to grow its business in the coming years.