When was Mindgrove founded?

Mindgrove was founded in 2021 and raised its 1st funding round 2 years after it was founded.

Where is Mindgrove located?

Mindgrove is headquartered in Chennai, India. It is registered at No. 12B, Vedanta Desikar Swamy Street Mylapore, Chennai, Chennai, Tamil Nadu, India, 600004.

Who is the current CEO of Mindgrove?

Thirukkarugavoor Ramkumar Shashwath of Mindgrove. They have also founded 1 company.

Which legal entities is Mindgrove associated with?

Mindgrove is associated with MINDGROVE TECHNOLOGIES PRIVATE LIMITED.

How many employees does Mindgrove have?

As of Jul 31, 2025, Mindgrove has 44 employees, reflecting a 34% year-over-year growth in headcount.

Is Mindgrove a funded company?

Mindgrove is a funded company, having raised a total of $10.4M across 3 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Jan 12, 2023.

How much is Mindgrove worth?

The latest valuation of Mindgrove is $***** as of Jan 07, 2025. This marks a decline of 16% from its peak valuation of $29.8M in Jan, 2023. This marks a decline of 16% from its peak valuation of $29.8M in Jan, 2023.

When was the latest funding round of Mindgrove?

Mindgrove's latest funding was a $***** Series A round on Dec 23, 2024, with participation from 7 investors. Its primary sector is Embedded Systems. In India, the Embedded Systems sector has seen $29.2M in funding in 2026 to date.

What is the annual revenue of Mindgrove?

Annual revenue of Mindgrove is less than ₹10 Cr as on Mar 31, 2025

Where does Mindgrove rank among its competitors?

Mindgrove ranks 3rd amongst 180 active competitors, of which 48 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was BigEndian, which secured $6M in May, 2026.

Who are the top competitors of Mindgrove?

Mindgrove's top competitors include Espressif, Rambus and Canaan. Among them, BigEndian secured the most recent funding round in May, 2026.

Mindgrove - 2026 Company Profile, Team, Funding, Competitors & Financials

Mindgrove is a series A company based in Chennai (India), founded in 2021 by Jagathrakshakan Srinivas Sharan srinivas and Thirukkarugavoor Ramkumar Shashwath. It operates as a Developer of system on chips for IoT, vision, and edge applications. Mindgrove has raised $10.4M in funding from investors like Peak XV Partners, Speciale Invest and Rocketship, with a current valuation of $*****. The company has 180 active competitors, including 48 funded and 34 that have exited. Its top competitors include companies like Espressif, Rambus and Canaan.

Company Details

Developer of system on chips for IoT, vision, and edge applications. The company designs chips for use in sectors such as automotive, industrial automation, vision systems, and smart living. Products include processors for edge and computer vision workloads, and low-power SoCs for embedded devices. The company also provides modules and resources such as blogs and news.

Website: www.mindgrovetech.in/
Social
Email ID: *****@mindgrovetech.in
Registered Address: No. 12B, Vedanta Desikar Swamy Street Mylapore, Chennai, Chennai, Tamil Nadu, India, 600004

Key Metrics

Founded Year

2021

Location

Chennai, India

Stage

Series A

Total Funding

$10.4M in 3 rounds

Latest Funding Round

Series A, Dec 23, 2024, $*****

Post Money Valuation

$***** as on Jan 07, 2025

Investors

Peak XV Partners & 12 more

Ranked

3^rd among 180 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2025

Employee Count

44 as on Jul 31, 2025

Similar Companies

Espressif & 126 more

View Mindgrove's full profile

Mindgrove is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MINDGROVE TECHNOLOGIES PRIVATE LIMITED CIN: U29100TN2021PTC141187 , India, Active	Feb 05, 2021	0 - ₹10 Cr (As on Mar 31, 2025)	57 (As on May 01, 2026)

Mindgrove has raised a total funding of $10.4M over 3 rounds. Its first funding round was on Jan 12, 2023. Its latest funding round was a Series A round on Dec 23, 2024 for $*****. 7 investors participated in its latest round. Mindgrove has 8 institutional investors and 5 angel investors.

Here is the list of recent funding rounds of Mindgrove:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Dec 23, 2024	1246000	Series A	2919833	7413014	3527736	9877543
Dec 25, 2023	3597141	Seed	2582305	3016541	7348960	4081134
Jan 12, 2023	5710695	Seed	9883859	1903036	Speciale Invest & 2 more	Ashwini Asokan & 1 more

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View details of Mindgrove's funding rounds and investors

The founders of Mindgrove are Jagathrakshakan Srinivas Sharan srinivas and Thirukkarugavoor Ramkumar Shashwath. Thirukkarugavoor Ramkumar Shashwath is the CEO of Mindgrove.

Here are the details of Mindgrove's key team members:

Jagathrakshakan Srinivas Sharan srinivas: Co-Founder & CTO of Mindgrove. They serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Thirukkarugavoor Ramkumar Shashwath: Co-Founder & CEO of Mindgrove. They serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number

Mindgrove's Board of Directors

Mindgrove's board has 3 active members. Jagathrakshakan Srinivas Sharan srinivas and Thirukkarugavoor Ramkumar Shashwath are part of team and Srinivasan Sharanya is independent board member.

Here is the list of Mindgrove's board of directors:

Name	Type	Representing	Status	Duration
Jagathrakshakan Srinivas Sharan srinivas	Team	-	Current	5y 3m
Thirukkarugavoor Ramkumar Shashwath	Team	-	Current	5y 6m
Srinivasan Sharanya	Independent board member	-	Current	5y 6m

View details of Mindgrove's Founder profiles and Board Members

Mindgrove's employee count trend

Mindgrove has 44 employees as of Jul 25. The total employee count is 33.0% more than what it was in Jul 24. Here is Mindgrove's employee count trend over the years:

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Top competitors of Mindgrove include Espressif, Rambus and Canaan. Here is the list of Top 10 competitors of Mindgrove, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Espressif 2007, Shanghai (China), Public	Provider of wireless communication chips, software, cloud, and AIoT solutions	$3.3M	Intel Education Accelerator, BOE Technology Group ... & 7 others	75/100
2nd	Rambus 1990, Sunnyvale (United States), Public	Provider of AI-based silicon IP and chip solutions	-	Kleiner Perkins, Mohr Davidow Ventures	68/100
3rd	Mindgrove 2021, Chennai (India), Series A	Developer of system on chips for IoT, vision, and edge applications	$10.4M	Rocketship, Peak XV Partners & 11 others	65/100
4th	Canaan 2013, Hangzhou (China), Public	Developer of ASICs for block-chain computing	$43.7M	Fundamental Labs, Jin Jiang International ... & 2 others	63/100
5th	Unisoc 2001, Shanghai (China), Acquired	Provider of SoCs for mobile communication, IoT connectivity and other applications	$1.45B	Silver Lake, CDBC & 16 others	63/100
6th	Ambiq 2010, Austin (United States), Public	Provider of AI-based system-on-chips for IoT applications	$385M	Kleiner Perkins, Conductive Ventures & 18 others	63/100
7th	Omni Design Technologies 2015, Milpitas (United States), Series A	Ultra low power semiconductor IP cores	$69.3M	Tipping Point Capital, Ten Capital & 8 others	62/100
8th	BigEndian 2024, Bengaluru (India), Seed	Developer of integrated circuits, microprocessors, and custom system-on-chip designs	$9M	Indian Angel Network, Vertex Ventures & 7 others	61/100
9th	InvenSense 2003, San Jose (United States), Acquired	MEMS and magnetic sensor solutions for consumer, industrial, and automotive applications	$38M	Qualcomm Ventures, Sierra Ventures & 9 others	61/100
10th	Calterah Semiconductor 2014, Shanghai (China), Series D	Developer of CMOS millimeter wave radar sensors	-	Gopher Assets, Bank of Communications & 11 others	61/100

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Founders own 41.21%, Funds (largest shareholder) own 53.00%, Angels own 1.61% and Other People own 0.42%. The net worth of Mindgrove's founders is INR 88.7Cr as of Jan 07, 2025.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	41.21%	88.7Cr	4410599	3867498	8982725	1259634
Thirukkarugavoor Ramkumar Shashwath	2148076	6286740	5301652	3636299	3088248	7321752
Jagathrakshakan Srinivas Sharan srinivas	2618033	5169735	9440068	9475508	5523917	9060313
Fund	53.00%	114Cr	4999709	9852487	9158153	3558027
Rocketship	6898539	4940859	7118208	6508327	9766606	6081745
Speciale Invest	1891366	3017555	5943906	3252573	9837684	2479237
Peak XV Partners	6994	2142	9970	6219	5993	8501
Angel	1.61%	3.47Cr	8	3	1	7
Other People	0.42%	89.6L	0	0	0	0
ESOP Pool	3.75%	8.06Cr	691	892	371	848
Total	99.99%	215Cr	7434547	8038361	7926187	5687575