Mindgrove Technologies aims to earn revenue before fiscal year end
Mindgrove Technologies, a homegrown semiconductor design startup incubated at IIT Madras, is aiming to start earning revenue before this fiscal year wraps up.
Shashwath TR, cofounder and chief executive of Mindgrove, shared in an interview with Mint that its made-in-India chips are being tested for use in things like biometrics and CCTV systems.
Mindgrove Technologies backed by $10.3 million
Founded in 2021, Mindgrove builds security-focused chips for connected cameras and robotics.
Backed by $10.3 million in funding from investors like Peak XV Partners and Rocketship VC, it's working on two chip designs, one expected to launch commercially by late 2026.
Its chips are already being tested on AtumX, a robotics-focused education platform.
The team is also eyeing government incentives under the Semicon 2.0 scheme as India ramps up its semiconductor game.