Feb 24, 2023

Sequoia Capital India, Speciale Invest, and Whiteboard Capital led a $2.35 million seed fundraising round for Mindgrove Technology, a semiconductor business that was incubated at IIT Madras. Nischay Goel and Ashwini Asokan also made investments on a personal level. According to a news statement from Mindgrove, the money will be used to expand the workforce and invest in technology. Mindgrove designs System-on-Chips (SoCS) in India under the trade name Mindgrove Silicon, which was established in 2021 by Shashwath T R and Sharan Srinivas J. These SoCs are designed to be power- and money-efficient for usage in IoT, automotive, and other applications. With minimal power consumption, Mindgrove Silicon SoCs seek to provide best-in-class performance. This is helpful in fields including automotive, consumer electronics, industrial automation, security, and aviation where power consumption is restricted. For edge signal processing and vision applications, Mindgrove has developed a series of three SoCs (System on Chips). They are built using industrial-grade microprocessors with the “Shakti” core. At IIT Madras’ Reconfigurable Intelligent Systems Engineering (RISE) Lab, Shakti was created as part of the Ministry of Electronics and Information Technology’s Digital India RISC-V program. Competitors of Mindgrove, a company situated in Chennai, include Applied Materials, TSMC India, Micron Technologies, and Solex Energy.