About Mindgrove
Mindgrove is a company based in Chennai (India) founded in 2021 by Sharan Srinivas Jagathrakshakan and Shashwath T R. Mindgrove has raised $10.58 million across 4 funding rounds from investors including Peak XV Partners, Speciale Invest and Whiteboard Capital. The company has 36 employees. Mindgrove offers products and services including Secure IoT, Smart Lock, Smart Watch, Smart Meter, and Thermal Printer. Mindgrove operates in a competitive market with competitors including Eta Compute, ChipWrights, ZF Micro Solutions, DesignArt Networks and SenseSemi, among others.
- Headquarter Chennai, India
- Employees 36
- Founders Sharan Srinivas Jagathrakshakan, Shashwath T R
- Stage Minicorn
- SectorsTechnology
- Email••••••••
- Website mindgrovetech.in
- Social LinkedIn X YouTube
- Legal Name Mindgrove Technologies Private Limited
- Date of Incorporation 05 Feb, 2021
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹3.00 Cr
FY 2025 · +345% YoY
- Net Loss-₹7.87 Cr
FY 2025 · -262% margin
- EBITDA-₹7.72 Cr
FY 2025 · -257% margin
- Total Equity Funding$10.58M (USD)
in 4 rounds
- Latest Funding Round$228.23K (USD), Angel Round
Feb 2026
- InvestorsPeak XV Partners
& 8 more
- Employee Count36
Associated legal entities of Mindgrove
Mindgrove operates through Mindgrove Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Mindgrove Technologies Private Limited CIN U29100TN2021PTC141187 | Active | 05 Feb 2021 | Chennai, Tamil Nadu | ₹3.0 Cr | 36 | 5 | View details |
Products & Services of Mindgrove
Mindgrove offers a comprehensive portfolio of products and services, including Secure IoT, Smart Lock, Smart Watch, Smart Meter, and Thermal Printer.
Provides secure 28 nm chip for IoT devices with customizable features.
IoT-enabled locking system using Mindgrove SoC technology.
Wearable with embedded SoC for connectivity and security features.
Device for monitoring utilities via secure IoT integration.
Printer with SoC for reliable and secure printing operations.
Fan controlled via IoT for smart home environments.
Module for biometric authentication using advanced SoC.
Apps and channels of Mindgrove
its YouTube channel MindgroveTech has 232 subscribers and 8 videos.
Videos from Mindgrove
The most watched videos on Mindgrove's YouTube channel, MindgroveTech (232 subscribers). Click a video to play it here.
More on MindgroveTech.
Funding Insights of Mindgrove
Mindgrove has successfully raised a total of $10.58M across 4 strategic funding rounds. The most recent funding activity was a Angel Round of $228.23 thousand completed in February 2026. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $10.58M
- Total Rounds 4
- Last Round Angel Round — $228,226
- First Round $2.35M
(Jan 2023)
- Investors Count 9
All 4 funding rounds of Mindgrove with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2026 | $228,226 | Angel Round | – | – | – |
| Dec 2024 | $8M | Series A | $25.08M | Rocketship, Speciale Invest | |
| Dec 2023 | – | Seed | – | Peak XV Partners | – |
| Jan 2023 | $2.35M | Seed | $7.72M | Speciale Invest, Peak XV Partners |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2024 | $25.08M | •••••••• |
| Jan 2023 | $7.72M | •••••••• |
Last known valuation $25.08M (Dec 2024). 9 investors in total: 5 institutional and 4 angel.
Investors in Mindgrove
Mindgrove has secured backing from 9 investors, including venture fund and angel investors. Prominent investors backing the company include Peak XV Partners, Speciale Invest and Whiteboard Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Rocketship.vc is engaged in data mining and startup investment. | – | rocketship.vc | Los Altos, United States | |
Investing in deep tech startups with a focus on early-stage innovations in technology and engineering. | 2017 | specialeinvest.com | Bengaluru, India | |
Investments are made in B2B technology startups focusing on climate tech, enterprise SaaS, and deep tech. | 2020 | melaventures.in | Bengaluru, India | |
Venture capital firm investing in startups and providing support programs. | 2000 | peakxv.com | Bengaluru, India | |
Investment support is provided to startups by Whiteboard Capital. | 2017 | whiteboardcap.com | Mumbai, India | |
NG Nishchay Goel | Co-founder of Ather Energy, active angel investor in Indian startups | – | unknown_5bfe23b653f44232b | - |
AG Anshul Goel | Angel investor and tech entrepreneur, focused on early-stage Indian startups. | – | unknown_d5120542deb449318 | - |
AA Ashwini Asokan | Founder of Mad Street Den, AI innovator, active angel investor | – | unknown_e93382dbb9c148888 | - |
NG Nischay Goel | - | – | unknown_d04ec09faf7843768 | - |
Investor details for Mindgrove
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Mindgrove Technologies Private Limited (Mindgrove)
Mindgrove Technologies Private Limited is the primary company behind Mindgrove. The board of Mindgrove Technologies Private Limited currently have 5 directors; the longest-serving is Thirukkarugavoor Ramkumar Shashwath, appointed in 2021. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Thirukkarugavoor Ramkumar Shashwath DIN 09034727 | Director | 05 Feb 2021 | 5 yrs 8 mo | Mindgrove Technologies Private Limited |
| Srinivasan Sharanya DIN 09055513 | Director | 05 Feb 2021 | 5 yrs 8 mo | Mindgrove Technologies Private Limited |
| Jagathrakshakan Sharan Srinivas DIN 09163295 | Director | 01 May 2021 | 5 yrs 5 mo | Mindgrove Technologies Private Limited |
| Parthasarathy Namakal Srinivasan DIN 00146954 | Nominee Director | 31 Mar 2025 | 1 yr 6 mo | Mindgrove Technologies Private Limited |
| Visesh Rajaram DIN 01474286 | Nominee Director | 31 Mar 2025 | 1 yr 6 mo | Mindgrove Technologies Private Limited |
People of Mindgrove
4 people are tracked at Mindgrove (3 in leadership, 1 in team); the tracked headcount is 36.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CTO | Leadership | |
Shashwath T R | Co-Founder & CEO | Leadership |
T.R. Shashwath | CEO & Co-Founder | Leadership |
Nikhil Pai | Sales & Marketing Consultant | Team |
Complete people profiles for Mindgrove
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Mindgrove
Figures of Mindgrove Technologies Private Limited, the primary company behind Mindgrove, for FY 2025. Revenue was ₹3.00 Cr (+345% year on year). Net loss was -₹7.87 Cr (-262% margin). EBITDA was -₹7.72 Cr (-257% margin). Revenue has grown at a compounded annual rate of +132% over three years.
- ₹3.00 CrRevenue · FY 2025 · +345% YoY
- -₹7.87 CrNet loss · -262% margin
- -₹7.72 CrEBITDA · -257% margin
- ₹13.5 LakhPaid-up capital
- 36Employees (provident fund records)
- +132%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Mindgrove Technologies Private Limited are on its company page.
Detailed financial statements for Mindgrove
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Mindgrove
4 dated milestones of Mindgrove across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Mindgrove is founded.
- Funding First funding round of $2.4M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $228K.
Competitors of Mindgrove
Mindgrove operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Eta Compute, ChipWrights, ZF Micro Solutions, DesignArt Networks and SenseSemi, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| etacompute.com | 2015 | Westlake Village, United States | $22.55M | 16 | SoCs for edge computing and embedded systems are manufactured. | |
| chipwrights.com | 2000 | Waltham, United States | $40.1M | – | ChipWrights develops innovative system-on-chips for embedded video and audio applications. | |
| zfmicro.com | 1995 | Alto, United States | $15M | – | Embedded PC-on-chip solutions with integrated hardware and software are provided. | |
| designartnetworks.com | 2006 | – | $30M | – | Programmable SoCs and embedded software for 4G infrastructure are provided. | |
| sensesemi.com | 2014 | Bengaluru, India | – | – | Smart wearable devices are developed for chronic disease management. | |
| o-cubes.com | 2020 | Shanghai, China | – | – | SoC chips are designed and manufactured for multiple applications. | |
| cputech.com | 1989 | San Francisco, United States | $250,000 | – | System-on-a-Chip based embedded systems are developed for critical applications. | |
| eulego.com | 2007 | Turin, Italy | – | – | System-on-a-Chip based embedded systems for industrial applications are developed. |
Detailed competitors of Mindgrove
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Mindgrove
The website of Mindgrove (mindgrovetech.in) receives about 11.7K visits a month.
- Monthly visits11.7K
▲ 8.7% vs previous month
Latest news on Mindgrove
Complete news archive for Mindgrove
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
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- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Mindgrove
10 companies that operate in the same segment as Mindgrove (Embedded & Flexible Electronics), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
IoT connectivity platform from prototype to production is developed. | 2011 | San Francisco, California, United States | USD 134.87 M | – | 109 | |
RF MEMS-based oscillators and resonators are supplied for diverse applications. | 2004 | Sunnyvale, California, United States | USD 51.97 M | USD 326.66 M | 395 | |
Single board computers are supplied for educational computing and programming. | 2008 | Cambridge, Cambridgeshire, United Kingdom | USD 45 M | – | – | |
Flexible displays are researched, developed, and manufactured by Royole. | 2012 | Fremont, California, United States | USD 849.93 M | – | – | |
Programmable logic devices and embedded solutions are provided. | 1984 | San Jose, California, United States | – | USD 154.19 M | 1,516 | |
AI-enabled image processors are manufactured for ADAS and security applications. | 2004 | Santa Clara, California, United States | USD 15.4 M | USD 390.7 M | 941 | |
Electronic paper displays for eBooks and devices are manufactured. | 1997 | Boston, Massachusetts, United States | USD 52.8 M | – | 2,900 | |
Developer of AI-based chips for machine vision tasks | 2016 | Pudong, Shanghai, China | USD 346 M | – | – | |
Provider of an open-source electronics prototyping platform | 2005 | Malmo, Sweden | USD 54 M | – | – | |
Radiofrequency-based MEMS actuators are developed for electronic switching applications. | 2016 | Irvine, California, United States | USD 235.16 M | – | – |
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Frequently Asked Questions about Mindgrove
Mindgrove was founded in 2021 and raised its 1st funding round 2 years after it was founded.
Mindgrove is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Shashwath T R is the current CEO of Mindgrove. They have also founded this company.
Mindgrove is a funded company, having raised a total of $10.58M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2.35M, raised on Jan 2023.
Mindgrove has 36 employees.
The primary company behind Mindgrove, Mindgrove Technologies Private Limited, reported revenue of ₹3.00 Cr for FY 2025, up 345% year on year.
Mindgrove was founded in 2021 and is based in Chennai, India. Operations focus on the semiconductor sector, where system-on-chips are designed for connected devices. Built-in security features are incorporated into these chips, supporting applications in IoT, vision processing, analytics, AI inferencing, and signal processing. Products encompass secure IoT chips, with vision system-on-chips under development.
Mindgrove's top competitors include Eta Compute, ZF Micro Solutions and DesignArt Networks.
Mindgrove offers Secure IoT, Smart Lock, Smart Watch, Smart Meter, and 3 more products and services.
Mindgrove has 9 investors. Key investors include Peak XV Partners, Speciale Invest, Whiteboard Capital, Mela Ventures, and Rocketship.vc.
The valuation of Mindgrove is $25.08M as of Dec 2024.
Mindgrove operates through Mindgrove Technologies Private Limited.