EMI/EMC simulation and testing platform SimYog has raised Rs 20 crore in a pre-Series A round led by Mela Ventures. The round also saw participation of 1Crowd and existing investor IdeaSpring.
The Bengaluru-based platform had earlier raised $885.7K back in January 2019 co-led by Karnataka Startup Cell, IdeaSpring and Robert Bosch Venture Capital.
The company plans to channell the proceeds to reach many customers who are facing the challenge of EMI/EMC testing and help them release quality products faster and cost-effectively, SimYog said in a press release.
Co-founded in 2017 by Harikiran Muniganti, Anant Devi, and Dipanjan Gope, SimYog provides design and sign-off tools for automotive electronics. It allows hardware developers to test electronic components’ resistance to electromagnetic interference in the design stage using data analytics and machine learning.
According to the IISc incubated startup, its compliance-Scope has saved a semiconductor company and its Automotive Tier-1 customers, time-to-market to the tune of one extra design sample. This translates to reduced lab iterations and bill-of-material reduction, leading to a saving in the order of $2-3M for a single product line of sensors.
SimYog registered over 77% growth in operating revenue to Rs 2.63 crore in FY22 from Rs 1.48 crore in FY21. As per the company’s financial statement with the RoC, its losses remained stable at Rs 1.71 crore during FY22. The company has not disclosed its FY23 numbers yet.