Mindgrove Technologies, a fabless semiconductor design startup, said on Monday that it has received official approval from the Ministry of Electronics and Information Technology (MeitY) under the Semiconductor Design Linked Incentive (DLI) for the development of its second chip — Vision SoC.
Aimed at high-performance edge computing and video processing applications, Vision SoC (System-on-Chip) will be suited for applications and devices that process video information. Essentially, the target customers will be companies that build and sell CCTV cameras, dashcams, video recorders, automotive ADAS, smart TVs, and others.
Earlier this year, Mindgrove announced the silicon success and commercial launch of its commercial high-performance 700MHz MCU — Secure IoT. The chip was designed for wearables, connected home devices, smart city devices, and others.
“The DLI Scheme, coordinated by C-DAC, is dedicated to nurturing innovative design start-ups. A prime example of this initiative’s success is Mindgrove Technologies, a promising venture that originated at the esteemed IIT Madras. With the support of the Government of India’s flagship DLI Scheme and funding from the renowned venture capital firm PeakXV, Mindgrove Technologies successfully overcame initial challenges, positioning itself to compete on a global scale, providing flexible, adaptable and cost-efficient SoCs for Edge Compute, IoT and Computer Vision applications,” Vivek Khaneja, ED, C-DAC Noida, said in a statement.
“We are excited to receive DLI support from MeitY, which reflects the government’s confidence in our shared vision as we collaborate to place India on the global semiconductor map,” said Shashwath TR, CEO of Mindgrove Technologies.