Mindgrove Technologies, a fabless semiconductor design startup, has successfully raised $8 million in a Series A funding round, co-led by Rocketship.vc and Speciale Invest. The round also saw participation from Mela Ventures, existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and new investor Anshul Goel. This capital will enable Mindgrove to expand its workforce and enhance its engineering capabilities while accelerating the production and sales of its inaugural chip, the “Secure IoT” microcontroller SoC, set to launch by mid-2025.
Earlier this year, Mindgrove introduced the Secure IoT chip, notable for being India’s first commercial-grade high-performance microcontroller SoC taped out at 28nm. Designed for smart devices such as watches, meters, and access control units, this chip addresses the growing demand for high-performance SoCs in India. Furthermore, the company received ₹15 Crore under the Government of India’s semiconductor Design Linked Incentive (DLI) scheme for developing a new chip called “Vision SoC,” aimed at high-performance edge computing applications.
CEO Shashwath T R emphasized that this funding reflects confidence in their capabilities to meet India’s rising demand for advanced semiconductor solutions, positioning Mindgrove as a key player in the global semiconductor landscape.
