Deeptech startup SimYog Technologies has raised INR 20 Cr (around $2.4 Mn) in its Pre-Series A funding round co-led by Mela Ventures and 1Crowd, with participation from existing investor IdeaSpring.
Incubated at the Indian Institute of Science (IISc), the Bengaluru-based startup will use the fresh capital for product development and go-to-market strategy.
Founded in 2017 by Dipanjan Gope, Anant Devi and Arkaprovo Das, SimYog is focused on providing design and sign-off tools for automotive electronics. It allows hardware developers to test electronic components’ resistance to electromagnetic interference (EMI) in the design stage using data analytics and machine learning.
“This investment will help us reach many customers who are facing the challenge of EMI/EMC testing and help them release quality products faster and cost-effectively,” said Gope.
“With higher expectations from consumers, product companies are packing more technology in constrained spaces, leading to potential challenges in signal interferences. EMI/EMC simulation tool in the early stages of the design cycle is a crucial need,” said N S Parthasarathy, managing partner at Mela Ventures.
The startup also aims to expand its global presence across semiconductor manufacturers, OEMs and subsystem suppliers.
In 2019, Robert Bosch Engineering and Business Solutions made its initial venture investment in SimYog. The platform is also one of the 77 startups selected by the government of Karnataka for Elevate 100 incubation programme in 2018.
With the increased dependence on deeptech across almost every industry, more startups are evolving in the sector. With this, the investment in the sector has also seen significant growth. Earlier this year, deeptech startups like Zest IoT, Doppelio, and WorkHack bagged funds either to double down on AI-driven initiatives or to help others board the AI ship.
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