Mixx Technologies raises $33 million from ICM HPQC, TDK Ventures, others

Mixx Technologies, a deeptech startup has raised $33 million in its funding round led by the Singapore-based ICM HPQC Fund.

The round also saw participation from TDK Ventures, SystemIQ Capital, AVITIC Innovation Fund, and others.

The startup will use the funds to boost R&D for product development, grow its Bengaluru team, and expand into new markets like Taiwan. It plans to set up manufacturing and operations in Taiwan starting January 2026, while already operating in the US and India.

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"The rising usage of AI models requires GPUs running at massive scale in the backend. The data centres where GPUs are deployed are burning gigawatts of power to compute all that information. So, we are developing a solution that allows the GPUs to connect efficiently,” said CEO Vivek Raghuraman said.

“We are developing a hardware technology using optical fibres, or light, to enable connectivity between GPU chips,” he added.

“Mixx Technologies exemplifies the kind of deep-tech innovation that advances not just a single product, but the health and evolution of the entire AI compute ecosystem,” said Nicolas Sauvage, president, TDK Ventures.

About Mixx Technologies

Founded in 2023 by Raghuraman and Rebecca K Schaevitz, the California-based Mixx Technologies plans to grow its team from 25 to over 75 employees in the coming months. They aim to hire senior roles in integrated circuits, photonics, and key business positions, said Raghuraman.

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Earlier, in January 2024, Keynes Technologies acquired a 13.2% stake in Mixx Technologies for $3 million.

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