IIT Madras incubated semiconductor startup Mindgrove technology has secured $2.35 million in seed funding round led by Sequoia Capital India, Speciale Invest and Whiteboard Capital. Ashwini Asokan and Nischay Goel also invested in their personal capacity.
The proceeds will be used to make investment in technology and grow the team, Mindgrove stated in a press release.
Founded in 2021 by Shashwath T R and Sharan Srinivas J, Mindgrove designs System-on-Chips (SoCS) in India under the brand name Mindgrove Silicon. These SoCs are built to be power-efficient and cost-effective for use in IoT, vision, automobiles, et al. Mindgrove Silicon SoCs aims to deliver best-in-class performance with low power. This is useful in applications where power use is constrained like automotive, consumer electronics, industrial automation, security and aviation.
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 microprocessors. Shakti was developed at the Reconfigurable Intelligent Systems Engineering( RISE) Lab at IIT Madras, under the digital India RISC-V program funded by the Ministry of Electronics and Information Technology.
Chennai-based Mindgrove competes with the likes of Applied Materials, TSMC India, Micron Technology, Solex Energy among others.