Blume Podcast

Blume Ventures
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Over four seasons, our podcast has covered X-Unicorns, compounding, winning beyond boundaries, and comebacks from near-death. The topics changed every season, but all our guests had one thing in common: Each of them was in a category of their own. So after four seasons, it finally has a name that says so. Our podcast is now called One of One. Season 5, Orbit Shifts, will be the first under the new name.

  1. 3d ago

    How a Side Project With 3 Students Became a ₹6,000 Cr IPO | Shashi of SEDEMAC

    What does it take to build a profitable deep tech company in India? Prof. Shashikanth Suryanarayanan (Shashi), founder and MD of SEDEMAC Mechatronics, started as an IIT Bombay professor with a side project and three students. Eighteen years later, SEDEMAC is a listed company whose control electronics power roughly one in three two-wheelers sold in India.   In this conversation with Karthik, recorded at IIT Bombay, Shashi walks through the journey: • Growing up in Chennai, IIT Madras, a PhD at Berkeley, and why he came back to India • Why he wanted to be a professor who builds things, not just publishes papers • What “control technology” actually is, explained with a ball-catching analogy • Why SEDEMAC never pivoted, and how the 2008–2015 years of experiments paid off • Smart Ignition, ISG, and the choice of small powertrains • Raising money without hype, and acting like a public company years before the IPO • Why “deep tech” with negative margins isn’t deep tech • Building a company that outlasts its founder • The next decade, India’s engineering talent, and how many profitable deep tech companies India will really have   This episode is part of the Blume Day series, themed around the orbit shifts a company makes.   ⏱ CHAPTERS 0:00 Introduction 1:55 Chennai, IIT Madras and Berkeley 10:54 GE as a pit stop, and coming back to IIT Bombay 14:22 The “B bucket” professor: building, not just publishing 19:59 The first students and the decision to start a company 27:37 Why the name SEDEMAC? 30:24 SINE, Nexus and the first investors 35:00 What is control technology? (the ball-catching analogy) 37:53 Fuel injection, and why SEDEMAC never pivoted 39:56 Why two-wheelers and gensets 45:32 2008–2015: experiments, Smart Ignition and the first big LOI 50:13 The 20% EBITDA pitch and the public-company mindset 59:13 Building the team and hiring from the IITs 1:02:48 Building to outlast: why an IPO 1:07:26 Competitive advantage and what “deep tech” really means 1:11:48 The lowest point (October 2013) 1:13:46 The next decade and global ambition 1:17:26 Institutionalization: “I’m not the most important person anymore” 1:24:01 India’s engineering talent and the future of deep tech

    How a Side Project With 3 Students Became a ₹6,000 Cr IPO | Shashi of SEDEMAC

  2. Jan 22

    How Square Yards Moves ₹18,000 Cr of Real Estate Every Year | S4E8 | Destiny Avenged | Weekday Episode

    What does it take to build a category-defining real estate company in India—starting from scratch, without hype, and going truly all in?   In this episode of the Blume Podcast, Karthik Reddy sits down with Tanuj Shori, Co-founder & CEO of Square Yards, to unpack the long, invisible journey behind one of India’s largest real estate and financial services platforms.   This is not a story about overnight success or fundraising theatrics. It’s about:   •  How brutal work ethic during the Global Financial Crisis reshaped ambition•  Why exposure to China’s Lianjia helped connect the dots for Square Yards•  The moment obsession turned into a 48-hour decision to quit banking•  What “going all in” really meant—selling homes, including their parents’•  Building only where you have a clear right to win   Today, Square Yards moves ~₹18,000 Cr of real estate annually while refusing to chase adjacencies without category leadership.   If you’re building for decades, thinking about conviction, or wondering how founders cross the line from comfort to commitment—this episode is a masterclass.   🔔 Don’t miss more founder stories from Season 4: Destiny Avenged.   ⏱️ Timestamps (Weekday Episode)   00:00 — “What is equity?”: early career confusion and learning the hard way04:10 — Lehman, GFC, and why hard work changed everything07:30 — China’s Lianjia, angel investing, and connecting the dots11:40 — Going all in: selling homes and building Square Yards with conviction   Season Partners   This season is brought to you by IDFC FIRST Bank and Ultrahuman.   Disclaimer   The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies or outcomes are illustrative only and should not be construed as endorsements. Past performance is not indicative of future results.

    How Square Yards Moves ₹18,000 Cr of Real Estate Every Year | S4E8 | Destiny Avenged | Weekday Episode

  3. Jan 16

    How 15 Co-Founders Built an ₹18,000 Cr Company | S4E8 | Destiny Avenged | Weekend Ep.

    What does it take to build a full-stack real estate platform in India, a market defined by broken processes, low trust, and extreme fragmentation, without following the traditional VC playbook? In this Season 4 finale of the Blume Podcast, Karthik Reddy sits down with Tanuj Shori, Founder of Square Yards, to unpack a decade-long journey of building one of India’s most quietly scaled businesses, now moving ~₹18,000 Cr of real estate annually. This is not a story of blitzscaling or overnight success. It’s a story of risk taken early, course-correction done fast, and patience sustained over decades — in a market most founders actively avoid. This episode dives into:- Why Square Yards refused to build “just another” property search platform- The decision to go full-stack in a deeply interdependent real estate ecosystem- Why category leadership mattered more than adjacency or incremental revenue- Hiring co-founders, not employees, and building a 15-person founding bench that’s still intact a decade later- A capital philosophy rooted in the belief that equity is the most expensive thing in the world- How retail distribution — not product or tech — became the hardest problem to solve- Why the team is building with a 20–40 year horizon, not for milestones or exits From selling their own homes and going all-in, to building an IPO-ready platform designed to outlive its founders, this conversation offers rare insight into what it takes to organise a broken market at national scale. Timestamps 00:00:00 – From Lehman Brothers to questioning “what is equity” 00:04:24 – Risk appetite, early course-correction, and being “all-in” 00:08:15 – Banking years, hard work, and why competence creates passion 00:14:29 – The accidental entrepreneur and the Square Yards origin story 00:20:20 – Selling personal and family assets to go all-in 00:31:01 – Why search & discovery failed — and full-stack was necessary 00:37:25 – Category leadership as a non-negotiable mandate 00:44:20 – Cracking scale: retail distribution, COVID tailwinds, and growth 00:54:38 – Destiny avenged, IPO as governance, and building for decades This season is brought to you in partnership with IDFC FIRST Bank and Ultrahuman. ------------------------------------------ The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies, transactions, or market events are illustrative only and should not be construed as endorsements or statements of value. Any views expressed by individuals are solely their own and do not represent those of Blume Ventures, its affiliates, partners, or employees. Past performance is not indicative of future results.

    How 15 Co-Founders Built an ₹18,000 Cr Company | S4E8 | Destiny Avenged | Weekend Ep.

  4. Jan 7

    How Minimalist Hit ₹100Cr in Just 8 Months from launch | S4E7 | Destiny Avenged | Weekday Ep

    What does it take to build a ₹100-crore skincare brand in under a year — in one of the most crowded consumer categories in India? In this episode of the Blume Podcast, Karthik Reddy sits down with Mohit Yadav, Co-founder of Minimalist, to unpack the long, invisible journey behind the brand’s seemingly overnight success. This is not a story about hype, influencers, or clever marketing. It’s about: - Why transparency became Minimalist’s core competitive advantage - How two years of “failed” experimentation at Freewill laid the real foundation - The shift from personalised haircare to problem-led, science-first skincare - Why Minimalist focused only on “need-to-have” products in its first year - How referrals, repeats, and honest customer conversations compounded growth - Why Tier-3 India surprised them the most — and what it says about knowledge parity If you’re building a consumer brand, thinking about PMF, or wondering how trust scales faster than ads — this episode is a masterclass. 🔔 Don’t miss more founder stories from Season 4: Destiny Avenged. ⏱️ Timestamps (Full Episode) 00:00 — Why Minimalist believed it could stand out in a crowded beauty market 01:00 — From Freewill to Minimalist: the pivots, mistakes, and COVID reset 08:30 — Radical transparency, clinically proven products, and black-and-white design 10:30 — The surprise insight: 50% of customers came from tier-3 India Season Partners This season is brought to you by IDFC FIRST Bank and Ultrahuman. Disclaimer The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies or outcomes are illustrative only and should not be construed as endorsements. Past performance is not indicative of future results.

    How Minimalist Hit ₹100Cr in Just 8 Months from launch | S4E7 | Destiny Avenged | Weekday Ep

  5. 12/19/2025

    How Minimalist Won India’s Skincare Market By Being Transparent | S4E7 | Destiny Avenged | Weekend Ep.

    What does it take to build a ₹3000Cr skincare brand in the middle of a global pandemic — without celebrity endorsements, influencer hype, or big-budget marketing?   In this episode of S4 of the Blume Podcast, Karthik sits down with Mohit Yadav, Co-founder of Minimalist, to unpack the years of quiet compounding behind the brand’s breakout — from two brothers experimenting across multiple businesses, to launching a science-first skincare brand during COVID.   This is not a story of overnight virality or growth hacks. It’s a story of:   •  Winning trust through ingredient transparency and product clarity•  Why India has wealth disparity, but skincare “knowledge parity” is rising fast•  What Minimalist got right (and what actually differentiated them)•  Why they chose to grow without influencers — and the flywheels that worked instead•  The underrated advantage of building from Jaipur•  The prior years of work that made their rapid growth possible   In a category built on hype and advertising, Minimalist won by respecting the consumer’s intelligence — and letting the product do the talking. Chapters: 00:00:00 – Why Minimalist thought it could stand out (problem-first, “knowledge parity”)   00:04:21 – Jaipur roots, humble background, and why the two brothers chose “dhandha”   00:11:04 – First business: Scopial (design community) and how it started   00:13:31 – Snapdeal’s Kunal invests → pivot to Mango Street kidswear → acquisition exit   00:17:04 – CarDekho years: scaling up + Indonesia chapter + deciding to start again   00:25:07 – Freewill (personalised haircare) → regulatory roadblock → COVID → Minimalist is born   00:32:40 – Minimalist’s brand DNA: clinical proof, radical transparency, black-and-white design language   00:50:53 – Going global (GCC/SEA/US), Target rollout, building from Jaipur, Unilever deal + rapid-fire + advice (till end) This season is brought to you in partnership with IDFC FIRST Bank and Ultrahuman.

    How Minimalist Won India’s Skincare Market By Being Transparent | S4E7 | Destiny Avenged | Weekend Ep.

  6. 12/02/2025

    Ather Didn’t Copy. They Rebuilt EVs From Scratch into a ₹26,000 Cr Company | S4E6 | Destiny Avenged | Weekday Ep.

    What does it take to build an EV in a country that had no supply chain, no ecosystem, and no conviction that world-class hardware could be engineered locally from scratch?   In this episode of Destiny Avenged, Tarun Mehta takes us back to the true origins of Ather — long before the scooters, the charging grid, or the brand India now knows.   It begins inside IIT Madras’ CFI lab, where a new culture of weekend building, late-night experiments, and first-principles engineering quietly took hold. Tarun and Swapnil spent years sleeping on yoga mats in the department, teaching themselves battery design, building swappable packs, and prototyping chargers.   But one insight changed everything: India didn’t want batteries. It wanted a world-class electric scooter.That leap — from component to full-stack — is what eventually became Ather Energy.   This conversation dives deep into:   •  How CFI and IIT Madras accidentally engineered a startup culture•  Why Ather took five years before launching anything•  The battery-first approach and the pivot to full-stack EVs•  Why building hardware requires long gestation and no shortcuts•  The engineering advantages EVs unlock that ICE can never match•  Why Ather chose the hardest possible path — and how it paid off Chapters: 00:00 – Building Ather’s first batteries02:23 – How IIT Madras accidentally created a startup factory06:03 – Quitting jobs, sleeping on yoga mats, and early swappable battery ideas09:11 – Pitching the full scooter & why deep tech isn’t a capital problem If you’ve ever wondered how an engineering-first company gets built in India, this is the blueprint.   🎧 Watch the full episode and explore more founder stories in Season 4: Destiny Avenged.   Season Partners: IDFC FIRST Bank and Ultrahuman (Blume portco)

    Ather Didn’t Copy. They Rebuilt EVs From Scratch into a ₹26,000 Cr Company | S4E6 | Destiny Avenged | Weekday Ep.

  7. 11/28/2025

    Ather at ₹26,000 Cr: The IIT Madras Experiment That Became an EV Giant | S4E6 | Destiny Avenged | Weekend Ep.

    What does it take to build an EV scooter from scratch in a country that had no EV supply chain, no ecosystem, and very little faith in hardware built in India? In this episode of the Blume Podcast (Season 4: Destiny Avenged), Karthik sits down with Tarun Mehta, Co-founder & CEO, Ather Energy, to unpack the impossible decade behind Ather — from two college kids sleeping on yoga mats in IIT Madras labs, hand-building battery packs and prototypes, to shipping their first 10 scooters nearly 5 years after the first cheque. This is not a story of hacks and shortcuts. It’s a story of: - Saying no to “copy China” and betting on original engineering - Spending years in the lab building batteries, BMS, chargers and a full-stack scooter before seeing any real revenue - Building an R&D culture that prides itself on engineering excellence, even when it meant slower growth and higher risk. 00:00 – If Tesla called, would Tarun collaborate? (cold open) 01:23 – Destiny Avenged intro & how a hostel project became Ather Energy 03:37 – Growing up in Ahmedabad, Gujarat board & an obsession with gaming 08:23 – Choosing IIT Madras, Engineering Design & meeting Swapnil + the Stirling engine 21:39 – Quitting auto jobs, camping at IIT, and pivoting from batteries to full-stack scooters 34:46 – Deep tech vs internet: capital, gestation and why metrics are the real bottleneck 45:14 – EVs as experience machines: Infinite Cruise, smart helmets & software-led moats 57:23 – IPO, life as a public company & what Ather should look like in 2035 If you’re a founder, operator, or anyone who’s ever wondered whether it’s worth betting a decade on hard problems, this conversation is a masterclass in patience, craft, and long-term thinking. In this candid conversation, Karthik dives deep with Tarun into how Ather was built the hard way — one experiment, one setback, and one breakthrough at a time. Season Partners: IDFC FIRST Bank and Ultrahuman (Blume portco) ------------------------------------------ The views and opinions expressed in this content are for informational purposes only and do not constitute investment, legal, tax, or accounting advice, nor an offer or solicitation to buy or sell securities. References to companies, transactions, or market events are illustrative only and should not be construed as endorsements or statements of value. Any views expressed by individuals are solely their own and do not represent those of Blume Ventures, its affiliates, partners, or employees. Past performance is not indicative of future results.

    Ather at ₹26,000 Cr: The IIT Madras Experiment That Became an EV Giant | S4E6 | Destiny Avenged | Weekend Ep.

  8. 11/19/2025

    New Swaraj, New Money: Inside the BitFury Revolution | S4 E5 | Destiny Avenged | Weekday Ep

    Imagine betting your entire fortune on Bitcoin back in 2012, when it traded at $20 a coin. That's what George Kikvadze, Executive vice chairman of Bitfury, did in 2012 when most people dismissed Bitcoin as “magic internet money”. On the surface, it sounded like pure madness. Newly fired from his hedge fund job, family thinking he’s lost it, the asset trading below a dollar just two years earlier. Who does that? But as George puts it, “The comfort level of owning Bitcoin is directly proportional to the time you spend studying it.” He studied math, cryptography, monetary history. He watched the Cyprus banking crisis play out, saw accounts frozen, and connected it back to his childhood in the Soviet Union where his parents’ savings evaporated overnight. That’s where his core thesis came from: - Global debt levels keep rising - Governments and central banks will keep printing more fiat money - Bitcoin, with 21 million hard-capped supply and declining issuance, is an asymmetric bet on that lack of discipline. This understanding allowed him to hold his nerve when everyone thought he was crazy — and then use that belief to build, not just trade. Along with his co-founder Val, he built not one but THREE bitcoin unicorns from the BitFury Universe, choosing to focus on enabling mining versus hoarding coins. And George still isn’t done. On CNBC, he doesn’t say Bitcoin might hit a million dollars. He says it will — driven by the same forces he’s been tracking for over a decade. Karthik sits down with George to unpack his journey, his book “And Then You Win”, and his $1M Bitcoin thesis on the latest weekday episode of the Blume Podcast. Chapters: 0:00 — Trailer 1:05 — The $20 Bet, Reinvention & Early Bitcoin Lessons 8:19 — CNBC Moment, Chip Failure & Bitfury’s Toughest Crisis 13:32 — Why Bitcoin Still Wins: Scarcity, Debt & Discipline Season Partners: IDFC FIRST Bank and Ultrahuman (Blume portco)

    New Swaraj, New Money: Inside the BitFury Revolution | S4 E5 | Destiny Avenged | Weekday Ep
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About

Over four seasons, our podcast has covered X-Unicorns, compounding, winning beyond boundaries, and comebacks from near-death. The topics changed every season, but all our guests had one thing in common: Each of them was in a category of their own. So after four seasons, it finally has a name that says so. Our podcast is now called One of One. Season 5, Orbit Shifts, will be the first under the new name.

Information

  • Creator
    Blume Ventures
  • Years Active
    2022 - 2026
  • Episodes
    48
  • Rating
    Clean
  • Copyright
    © Blume Ventures
  • Show Website
    Blume Podcast