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Mindgrove raises $8 Mn in Series A funding round

Entrackr

Entrackr · 6m ago

Mindgrove raises $8 Mn in Series A funding round

Mindgrove Technologies, a fabless semiconductor design startup, has raised $8 million in a Series A funding round co-led by Rocketship.vc and Speciale Invest. The round also witnessed participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel. The Chennai-based startup had previously secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital back in early 2023. The proceeds will be utilized to expand its workforce, enhance its in-house engineering capabilities, and accelerate production and sales of the first chip, Mindgrove said in a press release. Co-founded in 2021 by Sharan Jagathrakshakan and T.R. Shashwath, Mindgrove is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. The company designs high-performance SoCs with advanced features at competitive prices for the Indian and global markets. According to Mindgrove, it has launched “Secure IoT,” a commercial-grade high-performance microcontroller SoC (System-on-Chip) taped out at 28nm. Designed for electronic devices that are transforming into “smart” connected devices like watches, meters, locks, and access control units, as well as for powering devices like printers and PoS machines. The chip is on schedule to reach the market by mid-2025. Mindgrove has received approval under the Government of India's Semiconductor Design Linked Incentive (DLI) scheme, amounting to Rs 15 crore, for developing a new chip, “Vision SoC,” meant for high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, smart TVs, and more.

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Chip startup Mindgrove Technologies secures $8 million in funding

Economic Times

Economic Times · 6m ago

Chip startup Mindgrove Technologies secures $8 million in funding

Indian fabless semiconductor design startup, Mindgrove Technologies, has raised $8 million in a Series A funding round led by Rocketship.vc and Speciale Invest. The company plans to use the funds to expand its workforce and enhance its engineering capabilities. Mindgrove aims to meet the growing demand in India for high-performance System-on-Chip (SoC) solutions for security and edge computing. The funding will also accelerate production and sales of its first chip, "Secure IoT," and support the development of a new chip called "Vision SoC" for vision processing applications.

Pratilipi raises $20 Mn in Series E led by Jungle Ventures

Entrackr

Entrackr · 3m ago

Pratilipi raises $20 Mn in Series E led by Jungle Ventures

Pratilipi, a digital storytelling platform, has secured $20 million in its Series E funding round, led by Jungle Ventures. The round includes $12 million in primary investment and $8 million from secondary share sales. Notably, Qiming Venture Partners partially exited, selling 75-80% of its shares, while Shunwei Capital fully exited. Pratilipi's valuation dropped to $100 million from $265 million previously. The company specializes in text and audio narratives in multiple Indian languages and has raised over $100 million to date. Its revenue grew to Rs 57.8 crore in FY24, with a reduced net loss of Rs 58.13 crore.

Peak XV-backed Bright Money raises $62 Mn

Entrackr

Entrackr · 1y ago

Peak XV-backed Bright Money raises $62 Mn

Bright Money, a Bengaluru and San Francisco-based consumer fintech startup, has raised $62 million in a Series B funding round. The round consists of $50 million debt from Encina Lender Finance and $12 million equity led by Alpha Wave, Hummingbird, and PeakXV. Bright Money offers debt management solutions and aims to reshape global retail banking using big data and AI. The funding will help the company cater to millennials, particularly in the US, and expand its product offerings. Bright Money previously raised $31 million in a Series A round in September 2021.

Purple Style Labs raises $8 Mn in Series D round

Entrackr

Entrackr · 1y ago

Purple Style Labs raises $8 Mn in Series D round

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), has raised $8 million in Series D funding. Led by Sanket Parekh of Pidilite Family Office, the round also saw participation from Signet, Hira Group Family Office, and other investors. The Mumbai-based omnichannel luxury fashion platform plans to build a fashion house and achieve $200 million in gross sales within the next few years. PSL has raised nearly $50 million to date and has seen significant revenue growth in recent years.

Travel startup TripFactory raises $50 mn in early-stage funding

VCCircle

VCCircle · 8m ago

Travel startup TripFactory raises $50 mn in early-stage funding

Singapore-based travel platform TripFactory has raised $50 million in a Series A funding round. The funding was led by an undisclosed corporate investor, and the parent company's valuation is now $500 million. TripFactory, which operates in over 110 countries and partners with travel agents to offer customised vacation packages, plans to use the funding to expand its market presence and diversify its product offerings. The company previously raised $10 million in a Series A round in 2014.

Cybersecurity Startup WhizHack Raises $3 Mn At $100 Mn Valuation

Inc42 · 11m ago

Cybersecurity Startup WhizHack Raises $3 Mn At $100 Mn Valuation

WhizHack, a startup, recently raised $3 million in funding at a valuation of $40 million. The company plans to use the capital to further invest in research and development through partnerships with universities in India and the US. Additionally, WhizHack is preparing to raise a larger Series A round of funding in early 2025.

Bombay Shirt Company Bags $3.2 Mn From Singularity Ventures, CaratLane’s Mithun

Inc42 · 1y ago

Bombay Shirt Company Bags $3.2 Mn From Singularity Ventures, CaratLane’s Mithun

Apparel brand Bombay Shirt Company has secured $3.2 million in a bridge funding round led by Singularity Ventures' Growth Opportunities Fund I. Other participants include Mithun Sacheti from CaratLane. Late last year, the parent company, Tomorrowland Apparels Pvt Ltd, issued 2,01,543 Series B Compulsory Convertible Cumulative Preference Shares (CCPS) to several investors. This latest funding comes four years after the startup raised $8 million in a Series B round. Bombay Shirt Company offers tailor-made shirts and other clothing items through online and offline channels, and currently operates 18 stores in multiple cities in India.

Dogsee Chew raises $8 Mn in Series B round

Entrackr

Entrackr · 4m ago

Dogsee Chew raises $8 Mn in Series B round

Dogsee Chew raises $8 Mn in Series B round Natural pet treat brand Dogsee Chew has raised $8 million in its Series B round led by Ektha.com, with participation from promoters, Shivanssh Holdings, and Poddar Family Office. The brand has raised a total of $22 million in funding to date, including the current round. In January 2022, the startup raised $6.7 million in its Series A round, led by Mankind Pharma, along with existing investor Sixth Sense Ventures. The new funds will be used to scale up manufacturing capabilities by expanding existing factories and constructing a new production facility. The company also plans to strengthen its Amazon Global Selling strategy to drive growth in international markets and expand further into the United States and Canada in 2025. Founded in 2015 by husband-wife duo Bhupendra Khanal and Sneh Sharma, Dogsee Chew now has a presence in more than 30 countries. The startup claims to offer 100 percent vegetarian dog treats that are all-natural, human-grade, and protein-rich. "With the premiumization of the pet food category on the rise, the demand for our human-grade chews is exploding. This investment ensures we are well-prepared to meet this demand by scaling production and expanding our presence globally. To make our products more accessible, we also plan to open distribution hubs in key international markets, allowing our retail partners to seamlessly access Dogsee Chews with shorter lead times,” said Bhupendra Khanal. According to data intelligence platform TheKredible, Dogsee Chew’s revenue in FY24 stood at Rs 53.76 crore, compared to Rs 98 crore in FY23. The firm reported an almost flat loss of Rs 27.73 crore in the last financial year. The Bengaluru-based startup competes with brands such as Khanal Foods, Captain Zack, Fidele Dog Food, and others in the pet care segment.

Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others

Inc42 · 1y ago

Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others

Innovist, the parent company of D2C consumer brands Bare Anatomy and Chemist at Play, has secured $7 million in a Series A funding round led by Amazon Smbhav Venture Fund. Other existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar, and former KKR India head Sanjay Nayar, also participated in the round. The funds will be used for product innovation, market expansion, and team building. Innovist raised $3.5 million in a pre-series A funding round last year and has garnered over $13 million in total funding.

Skye Air Bags Rs 32 CR ($4 Mn) From Mount Judi Ventures, Others

Inc42 · 1y ago

Skye Air Bags Rs 32 CR ($4 Mn) From Mount Judi Ventures, Others

Skye Air Mobility, a drone delivery startup, has raised $8 million in a Series A funding round. The funding round involved participation from various investors, including Chiratae Ventures and Venture Catalyst. Skye Air plans to use the capital for product development, infrastructure expansion, and to grow its team to around 200 employees within the next 18 months. The startup, founded in 2019, is primarily focused on sectors such as healthcare, ecommerce, quick commerce, and agriculture.

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