Mindgrove Technologies, a Deeptech startup based in Chennai, has received $2.325 million seed funding from Sequoia Capital India.
Speciale Invest, Whiteboard Capital, and angel investors Ashwini Asokan (Mad Street Den) and Nischay Goel also participated in the round (Duro Capital).
The IIT-Madras-backed startup intends to use the additional funding to expand its technology and workforce.
Mindgrove creates cutting-edge, scalable, and dependable System-on-Chips (SOCS) in India. These powerful chips can be used in low-power applications like industrial automation, automobiles, consumer electronics, security, and aviation.
For edge signal processing and vision applications, Mindgrove has developed a series-3 of SoCs (Systems on Chips). They are based on the “Shakti” core CPU, one of the first industrial-grade microprocessors made in India.
As part of the Digital India RISC-V program, financed by the Ministry of Electronics and Information Technology, Shakti was created at the Reconfigurable Intelligent Systems Engineering (RISE) Lab at IIT Madras (MeitY).
Mindgrove aims to produce cost-effective semiconductor chips in India
Shashwath T. R. and Sharan Srinivas J. founded Mindgrove in 2021. Mindgrove is a deep-tech firm that designs system-on-chips (SoCS) for the internet of things (IoT), automotive, consumer electronics, industrial automation, security, and aviation industries.
“Mindgrove’s mission of designing chips in India for the Indian market aligns well with India’s semiconductor needs,” said Shashwath.
The deep-tech startup’s progress has been made possible by an exceptional partnership between the government, academia, and industry.
IIT Madras Incubation Cell and IITM Pravartak Technologies Foundation, a section 08 business sponsored by the Indian government and home to the Technological Innovation Center on Sensors, Networking, Actuators, and Control Systems, support Mindgrove (SNACS).
Being a global sector, semiconductors have benefited dramatically from partnerships like this in recent years from nations like Japan, Singapore, South Korea, and Taiwan.
The seed money comes when deal activity in India’s deep tech sector has increased since last year. Praan, a deep tech firm, raised $1.56 million in a round co-led by Social Impact Capital earlier in January.
