Private Equity

VC Fund Investments

Semiconductor maker Mindgrove Technologies raises $8-M from Rocketship.vc, Speciale Invest, others

Business Standard   Mindgrove Technologies  

Chennai-headquartered Mindgrove Technologies , a fabless semiconductor design startup, has raised USD 8 million in Series A funding round. The round was co-led by Rocketship.vc and Speciale Invest, with participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel and Whiteboard Capital along with new participation from Anshul Goel.The company intends to use the fresh capital to expand its workforce and enhance in-house engineering capabilities. The investment will also accelerate production and sales of its first chip.Mindgrove was founded by Shashwath T R and Sharan Srinivas J. It designs scalable and reliable SoCS in India under the brand name Mindgrove Silicon. The company is focusing on products related to general purpose computing, which can be cross-sold across verticals like automotive, robotics, wearables and smart devices.The startup is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation. In early 2023, Mindgrove raised USD 2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital.