In a significant development for the burgeoning field of EMI/EMC simulation and testing, SimYog, a Bengaluru-based platform specializing in design and sign-off tools for automotive electronics, has successfully raised Rs 20 crore in a pre-Series A funding round. The funding was led by Mela Ventures, with participation from 1Crowd and existing investor IdeaSpring.
This recent infusion of capital marks a strategic move for SimYog, which had previously secured $885.7K in January 2019 in a funding round co-led by Karnataka Startup Cell, IdeaSpring, and Robert Bosch Venture Capital.
SimYog’s mission is clear: to address the challenges numerous customers face in EMI/EMC testing and assist them in bringing high-quality products to market more efficiently and cost-effectively. The company plans to utilize the funds to expand its reach and impact.
Founded in 2017 by Harikiran Muniganti, Anant Devi, and Dipanjan Gope, SimYog distinguishes itself by providing innovative solutions that enable hardware developers to test electronic components’ resistance to electromagnetic interference during the design phase. Leveraging data analytics and machine learning, SimYog’s platform empowers designers to optimize their products for optimal performance and reliability.
One of the standout features of SimYog’s offering is the compliance Scope. This tool has reportedly saved a semiconductor company and its Automotive Tier-1 customers significant time-to-market, equivalent to one extra design sample. This translates into fewer lab iterations, reduced bill-of-material costs, and substantial savings ranging from $2-3 million for a single product line of sensors.
According to SimYog’s financial statements filed with the RoC, the company demonstrated impressive growth in operating revenue, with a remarkable 77% increase to Rs 2.63 crore in FY22 from Rs 1.48 crore in FY21. Despite this growth, the company has maintained stability in its losses, which remained at Rs 1.71 crore during FY22.
SimYog’s strategic positioning and innovative approach in the EMI/EMC simulation space, combined with the backing of Mela Ventures and other key investors, set the stage for accelerated growth and continued advancements in automotive electronics. As SimYog continues to make strides in the industry, its commitment to enhancing product quality and reducing time-to-market is poised to impact the technology landscape.
