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Mela Ventures led Rs 20 Cr Pre-series A funding secured by SimYog

Pre-Series A funding led by Mela Ventures has brought in Rs 20 crore for SimYog, a platform for EMI/EMC testing and simulation. IdeaSpring, an existing investor, and 1Crowd also participated in the round.

In January 2019, the platform located in Bengaluru successfully raised $885.7K with the support of Karnataka Startup Cell, IdeaSpring, and Robert Bosch Venture Capital.

According to a press release from SimYog, the company intends to use the proceeds to assist numerous clients who are struggling with EMI/EMC testing and enable them to release high-quality products more quickly and affordably.

Anant Devi, Dipanjan Gope, and Harikiran Muniganti co-founded SimYog in 2017 to offer design and sign-off tools for automotive electronics. Using data analytics and machine learning, it enables hardware developers to test electronic components’ resistance to electromagnetic interference during the design phase.

The IISc-incubated startup claims that one extra design sample has been saved in time-to-market by its compliance-Scope for a semiconductor company and its Automotive Tier-1 customers. This results in fewer laboratory iterations and a lower bill of materials, which can save a single sensor product line between $2 and $3 million.

Operating revenue for SimYog increased by more than 77% from Rs 1.48 crore in FY21 to Rs 2.63 crore in FY22. The company’s losses in FY22 stayed at Rs 1.71 crore, according to its financial statement filed with the RoC. The company has not yet released its FY23 financial figures.

 

 

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