1. First time in India – Robert Bosch engineering and business solutions company makes its first venture investment in Bengaluru based Deeptech startup SimYog technologies.
2. SimYog has raised 6.3 crores in a funding round with participation from early-stage venture capital firm Ideaspring capital.
3. SimYog will use the funds to increase its product offering and will increase its team from five to 12 people to add customers and more products.
The startup founded by Dipanjan Gope, Anant Devi and Arkaprovo Das in 2017. The startup concentrated on giving the design and sign-off tools for automotive electronics.
SimYog startup allows hardware developers to examine electronic components resistance to electromagnetic interference (EMI) in the design stage using data analytics and machine learning.
Dipanjan Gope, CEO of SimYog said –
In electric vehicles, 50% to 70% of the cash we spend on materials is for electronics so, we work to help a company like Bosch to diminish the number of prototypes in producing these components. It will help everyone and decrease their time to market and costs.
SimYog is the startup that chosen by the government of Karnataka for Elevate 100 incubation programme for 2018. The startup also counts as an example of collaboration between industry and academia. The startup has showcased the strength of programmes put in place by IISc.