Deeptech firm Mindgrove Technologies announced on Thursday that it has received $2.325 million in seed funding, or about Rs 19.5 crore, from Sequoia Capital India.
Speciale Invest, Whiteboard Capital, and angel investors Ashwini Asokan (Mad Street Den) and Nischay Goel also participated in the round (Duro Capital), as per reported VCCircle.
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The business from Chennai intends to use the additional funding to increase recruiting and technological advancement.
“Mindgrove’s mission of designing chips in India, for the Indian market aligns well with India’s semiconductor needs,” said Shashwath.
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Shashwath T. R. and Sharan Srinivas J. founded Mindgrove in 2021. Mindgrove is a deep-tech firm that specialises in designing system-on-chips (SoCS) for the internet of things (IoT), automotive, consumer electronics, industrial automation, security, and aviation industries.
In India, Mindgrove creates cutting-edge, scalable, and dependable System-on-Chips (SoCS). Power-constrained areas like industrial automation, automotive, consumer electronics, defence, security, and aviation can benefit from these high-performance CPUs.
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