Indian SoC developer Mindgrove raises US$8 million in Series A
Indian chip startup Mindgrove Technologies Pvt. Ltd. (Chennai, India) has raised $8million in Series A Funding round led by Rocketship.vc and Speciale Invest.
Mela Ventures and existing investors Peak XV Partners and Whiteboard Capital also participated.
Founded in 2021, Mindgrove has applied itself to the development of SoCs and hardware and in May 20-24 introduced a secure IoT microcontroller based on RISC-V. The chip taped-out in a 28nm manufacturing process. The chip is on-schedule to come to market by mid-2025, Mindgrove said.
The company said it would use the latest funding to expand its engineering capability and accelerate production and sales of its first chip.
In addition, Mindgrove has received 150 million rupees (about US$1.75 million) support from the Indian government under an incentive scheme to develop a vision SoC. This is intended to address high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, and smart TVs.
“The demand in India for high-performance SoCs with essential features for security and edge-compute is growing,” said TR Shashwath, CEO of Mindgrove, in a statement.
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