Shashwath TR, CEO of Mindgrove Technologies, said in a statement: “Our recent investments and DLI scheme reaffirm our confidence in our theory and capabilities. There is a growing demand for high-performance SoCs. We are actively working to meet this need and have made strides in bringing Indian-designed chips to market.”
The company said the investment will also accelerate production and sales of its first chips.
In May this year, the company launched Secure IoT, India’s first commercial-grade high-performance microcontroller SoC (system-on-chip) taped out at 28nm. It is designed to power electronic devices that are turning into “smart” connected devices such as clocks, meters, locks, access control units, and devices such as printers and PoS machines. The chip is expected to be on the market by mid-2025.
In addition, MindGlobe supports high-performance edge computing and vision processing applications such as CCTV cameras, vehicle cameras, video recorders, ADAS, and smart TVs.
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The company said it is expanding its team across all divisions, including business, engineering, products and applications. “We are proud to further strengthen our partnership with MindGlobe Technologies, which is committed to revolutionizing the global semiconductor industry with cutting-edge proprietary designs,” said Vishesh, Managing Partner at Speciale Invest. Mr. Rajaram said. “The latest funding round will enable India to accelerate product development and market entry, further advancing India’s leadership in the global semiconductor sector.”
The startup is being incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. In early 2023, Mindgrove Technologies secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital.
