Indian chip startups get seed funds from Sequoia Capital

Indian chip startups get seed funds from Sequoia Capital

Business news |
By Peter Clarke

InCore Semiconductors and Mindgrove Technologies – both based in Chennai, India – have both received seed funding in rounds led by Sequoia Capital India.

In the case of InCore Semi the amount raised was US$3 million while Mindgrove has received about US2.3 million.

InCore was founded in 2018 and develops customized RISC-V processor cores aimed at application in such segments as automotive, industrial automation, and general electronics.

The company said it would use the funds to enhance its portfolio of Core-Hub generators and reference SoC designs.

“InCore’s RISC-V processors are not just designed for India but for the world. With a scalable, configurable, and extensible methodology, InCore’s RISC-V processor IP solutions can cater to a wide range of applications, including embedded systems, IoT devices, and industrial controllers,” said GS Madhusudan, CEO of InCore, in a statement.

In February Sequoia Capita India also led a seed round of funding in Mindgrove Technologies Pvt Ltd. (Chennai, India) valued at 19.5 crore rupees (about US$2.3 million). Mindgrove designs SoCs for use in in IoT, vision, consumer electronics, security and automobiles.

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