Mindgrove

Mindgrove Technologies is a pioneering Indian semiconductor startup focused on designing and developing high-performance, cost-effective System-on-Chips (SoCs) for the global electronics industry. The company is incubated by IITM Pravartak Technologies Foundation and the IIT Madras Incubation Cell and has quickly emerged as a leader in India’s fabless chip design ecosystem.

Products & Services

• Secure IoT SoC: India’s first commercial-grade, high-performance RISC-V-based System-on-Chip (SoC) for smart devices, offering programmability, security, and flexibility for applications like wearables, smart home devices, smart city infrastructure and EV battery management systems.

• Vision SoC: Next-generation chip designed for edge computing and vision processing, suitable for devices like CCTVs, dashcams and smart TVs.

• Custom SoC Design & Prototyping: Tailored chip design and prototyping services for OEMs and ODMs, including custom PCB design and integration based on client needs.

• Design Support for Indian Brands: Technical support and collaboration to help Indian electronics manufacturers innovate and scale production using Mindgrove chips.

• Cost-Efficient, Rugged Chips: All chips are engineered for Indian conditions, delivering 30% lower costs than global competitors and robust performance in diverse environments.

• IP Licensing: Licensing of proprietary SoC designs and IP cores to other semiconductor and device manufacturers

Business Model & Revenue Streams

Mindgrove operates a fabless semiconductor business model, focusing on design, development and licensing of SoCs, with the following primary revenue streams:

• Direct Chip Sales: Revenue from selling high-performance SoCs (like Secure IoT and Vision SoC) to OEMs and device manufacturers in consumer electronics, industrial, automotive and security sectors.

• Design Licensing: Licensing proprietary SoC designs and IP cores to other semiconductor companies and device makers, generating royalty and licensing income.

• Custom Design & Co-Development: Collaborating with large enterprises for custom SoC development, earning design fees and potential revenue-sharing on commercialized products.

• Government & Strategic Grants: Leveraging government incentives and grants (such as the DLI scheme) to support R&D and accelerate commercialization.

• After-Sales Support & Services: Providing technical support, firmware updates and integration services for clients deploying Mindgrove chips.

Customer Segmentation

• B2B: OEMs and device manufacturers in consumer electronics, automotive, industrial automation, security and defense.

• Enterprise & Strategic Partners: Companies seeking custom SoC solutions or co-development partnerships.

• Government & Institutional: Agencies and programs supporting domestic semiconductor innovation.

Growth Strategy

• Product Innovation: Accelerating R&D to expand the SoC portfolio, including chips for edge vision, AI and future automotive/EV applications.

• Market Expansion: Targeting both Indian and global electronics manufacturers, with a focus on mass-market devices and strategic sectors.

• Manufacturing Partnerships: Leveraging foundry partnerships for scalable chip production, while remaining fabless to minimize capex.

• Government Collaboration: Tapping into India’s semiconductor incentives and ecosystem support for rapid scaling and market access.

• Talent & Ecosystem Development: Building a world-class engineering team and fostering collaboration between academia, industry, and government.