Mindgrove Technologies expects its first revenue this financial year, chief executive Shashwath TR told Mint.
The Chennai startup designs computer chips and was incubated at IIT Madras. Shashwath TR is a cofounder of Mindgrove.
About six clients are now testing Mindgrove chips, the Mint interview said. The chips are being tried in biometrics and CCTV systems.
Founded in 2021, Mindgrove builds security-focused chips for connected cameras and robotics.
The company has raised $10.3 million so far. Its investors include Peak XV Partners and Rocketship VC.
Two chip designs are in the works, and one is set to launch commercially by late 2026. That second chip is the V2600, built for CCTV and surveillance work.
The V2600 runs edge AI. It processes video on the chip itself, so less data goes to the cloud.
Separately, Mindgrove chips are already being tested on AtumX, a robotics education platform.
The startup is also eyeing government support under the Semicon 2.0 scheme, as India pushes to build its own chip industry.
Its first chip was the Secure IoT processor, which launched in May 2024 and runs at 700 MHz.
What this means for you: Mindgrove is one of the first Indian chip startups nearing paying customers, so founders tracking the Semicon 2.0 push now have a homegrown design house to watch.
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