Semiconductor startup Mindgrove raises $2.35M in a seed round

IIT Madras incubated semiconductor startup  Mindgrove technology has raised $3.35 million in a seed funding round led by Sequoia Capital India, Speciale Invest and Whiteboard Capital. The round also saw participation from individual investors Ashwini Asokan (Mad Street Den) and Nischay Goel (Duro Capital).  

The deeptech startup will use the raised capital to scale up its technology and hire talent.

Founded in 2021 by Shashwath T R and Sharan Srinivas J, Mindgrove is a deeptech startup focused at designs cost-effective and power-efficient system-on-chips (SoCS) for use in internet-of-things (IoT), automobile, consumer electronics, industrial automation, security and aviation sectors.

According to the company's statement, Mindgrove’s series of 3 SoCs – System on Chips – are designed specifically for Edge signal processing and vision applications. They are based on the “Shakti” core microprocessor, which is industrial grade microprocessor.

The Reconfigurable Intelligent Systems Engineering (RISE) Lab at IIT Madras was responsible for developing Shakti as part of the digital India RISC-V program, which received funding from the Ministry of Electronics and Information Technology.

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