India Tech Report

Hari Arakali

This is a podcast dedicated to chronicling and supporting the growth of India's deep tech and climate tech startup ecosystems. One conversation at a time.

  1. 1 天前

    Mredul Sarda’s journey from student satellite to deep tech investor to cybersecurity entrepreneur

    In this episode, I’m joined by Mredul Sarda, an operator-investor in early-stage deep tech and now a cybersecurity entrepreneur. Mredul’s experience-packed journey began at IIT Bombay, where he earned a BTech in electrical engineering, and an MTech in deep learning. While at the institute, he was also a member of the team that designed and launched Pratham, widely thought of as India’s first student-led satellite. After a stint in strategy consulting, his tryst with Indian startups started not with deep tech but via a vital role at the fintech company Slice, where he played an important role in scaling the venture to unicorn valuation. Mredul, who was already an angel investor, co-founded Riceberg Ventures with Ankit Anand, Lino Gandola, and Shubham Raj. The firm launched its flagship $20 million Riceberg Ventures Premier Fund I in early 2024 to back global pre-seed deep tech ventures. Even as they expand Riceberg into Silicon Valley, Mredul and Shubham have also kicked off their own entrepreneurial venture in the area of AI-led cybersecurity, with their startup Causal Security. Causal Security offers an AI-based platform building autonomous “AI hackers” to surface and defend vulnerabilities in enterprise infrastructure. Join us as to get a glimpse into Mredul’s vision for India’s sovereign technical capabilities and his own evolution from operator to investor to investor-entrepreneur. Chapters:(03:21) Early engineering roots and the IIT Bombay student satellite project (06:05) Transitioning from strategy consulting to the hyper-growth ride at Slice (09:23) The inception of Riceberg Ventures and backing "obsessed" founders (14:08) Navigating deep tech sectors from biotech to nuclear energy, (16:40) Launching Causal Security to address global AI-led cyber threats (25:27) Automating security reviews with context graphs and AI harnesses (43:44) Scaling Riceberg Ventures into the United States market (44:57) Developing sovereign technical capabilities for the India AI stack

    Mredul Sarda’s journey from student satellite to deep tech investor to cybersecurity entrepreneur
  2. 6月30日

    20 million Ranchos: Prof. Ashok Jhunjhunwala’s vision for achieving tech sovereignty for India

    In this episode, I’m are joined by Professor Ashok Jhunjhunwala, a doyen among India’s champions of technology-led innovation for the masses, to discuss his latest moonshot venture: the ITEL Foundation (Immersive Technology and Entrepreneurship Labs).   After decades of bridging academia and industry at the IIT Madras Research Park, over the last two years, Professor Jhunjhunwala has been chairing this ambitious industry consortium-led initiative to transform India into a global “product nation.”   We dive into ITEL’s unique model of forming scientific consortiums and nurturing young “Ranchos” to solve India’s most infrastructure problems – such as the need for affordable and reliable rapid mass transport, for example. Eliminating waterlogging in our cities after rains and floods, and slashing chemical fertilizer dependency in agriculture are other examples.   Join us as Professor Jhunjhunwala, who turned 73 last week, explains why achieving true technological sovereignty requires 20 million entrepreneurs who view failure as a mere stepping stone to success, a critical badge of experience. Discover how ITEL is building the future of Indian innovation, one impossible challenge at a time.   Chapters (01:19) The birth of ITEL and the vision for a product nation: Professor Jhunjhunwala discusses the founding of the Immersive Technology and Entrepreneurship Lab (ITEL) and its goal to transform India into a global leader in technology. (05:48) Leveraging scientific consortiums and nurturing young “Ranchos”: The strategy for ITEL involves bringing together India's top scientists from across the country and providing intense mentorship to young, talented engineers. (08:40) Solving impossible problems from urban transport to waterlogging: Professor Jhunjhunwala outlines the "impossible" challenges ITEL is tackling, including reducing long commutes to 20 minutes and freeing cities from waterlogging. (17:33) Navigating the three layers of funding for deep tech: The conversation details the specific roles of grants, government funds, and venture capital in supporting high-risk, high-impact innovations. (25:33) Why India needs 20 million entrepreneurs to achieve sovereignty: Drawing inspiration from Mahatma Gandhi, the Professor argues that true technological sovereignty requires a massive scale of grassroots entrepreneurship. (36:36) Challenging large Indian conglomerates to lead global innovation: Professor Jhunjhunwala critiques the reliance of large companies on imported technology and urges them to acquire and scale Indian deep tech startups. (38:58) Embracing failure as a critical component of learning and growth: Using the analogy of a child learning to walk, he explains why incubators must allow entrepreneurs the freedom to fail and fall in order to eventually succeed. (45:25) The roots of service: how childhood values shape leadership: The Professor reflects on how his teachers and Hindi poetry instilled the desire to serve society rather than seeking fame or money.

    20 million Ranchos: Prof. Ashok Jhunjhunwala’s vision for achieving tech sovereignty for India
  3. 6月23日

    10 pct challenge: Vinod Shankar at Java Capital on how India can put $1 trillion in deep tech

    In today’s episode of Conversations, I’m joined by Vinod Shankar, co-founder of Java Capital, a venture capital firm that has carved a unique niche by focusing on deep tech and climate technology. Vinod’s journey is as specialized as his investments, moving from writing assembly code for mobile processors to leading a fund that backs moonshots in aerospace, silicon photonics, and advanced manufacturing.   Vinod recently ignited a lively debate in the startup ecosystem with his provocative essay, titled “I Want India to Win. Just Not With My Money.” He argues that India’s path to becoming a developed nation is being hindered by “sedimented” wealth. For example, consider one data point he highlights: while India’s wealthiest 1 percent control some $11.6 trillion, nearly 60 percent of those assets are frozen in real estate and gold.   In other words, not funding the future, he says. He also critiques India’s largest corporations for being “structurally allergic” to R&D risk, noting that global giants such as NVIDIA outspend the entire Indian corporate sector in a single quarter.   In this conversation we also talk about Java Capital’s next fund, their third, targeting Rs. 400 crore with a first close coming up, their “stacking” investment strategy, and Vinod’s urgent call for India’s ultra rich investors to allocate 10 percent of their net worth to domestic deep tech to secure the future of the nation’s technological sovereignty.   Chapters (01:32) Introduction: Vinod Shankar and the “I Want India to Win” Essay (04:01) The Evolution of Java Capital: From Generalist to Deep Tech Specialist (06:56) A Unique Career Path: From Assembly Code to Venture Capital (09:34) The “Stacking” Investment Model: Connecting Portfolio Dots (13:06) Addressing the “Sediment” Wealth Problem in India (18:37) The Corporate R&D Crisis and the Need for a Virtuous Cycle (26:41) Sovereignty and the Funding Gap: Domestic vs. Foreign Capital (43:24) Java Capital’s Fund III: Moonshots and the Future of Indian Innovation

    10 pct challenge: Vinod Shankar at Java Capital on how India can put $1 trillion in deep tech
  4. 6月16日

    Custom silicon: Ramamurthy Sivakumar at HrdWyr on the opportunity to build from India for the world

    In today’s episode, Ramamurthy Sivakumar, co-founder and CEO at HrdWyr, a semiconductor design startup in Bengaluru, talks about the company’s plans after recently raising $13 million in Series A funding, in an investment led by Ideaspring Capital.The company was co-founded in 2023 by Siva and Ganesh Guruswamy, both industry veterans spanning companies including Intel, AMD, Sandisk and Motorola.In this conversation, Siva talks about how the era of custom silicon is upon us and what the AI-led opportunity represents. The company specialises in System-on-Chip (AISoC) designs tailored for edge computing and applications like electric vehicles and industrial equipment.HrdWyr’s first product, named Indus 1011, is expected to hit the market by the end of this year, Siva says. In August last year, the company had announced it had picked Tata Electronics as the packaging partner and also that Indian consumer electronics company boAt would be an anchor customer for the chip — a small, but historic milestone for India's semiconductor aspirations.boAt is to use this chip, which offers power management as a core feature, in its truly wireless earbuds charging case.As many of you know, startups such as HrdWyr are getting funded in the time of a broader national push in India for semiconductor self-reliance, supported by significant government investment. Siva notes, however, that significant challenges remain, such as the lack of timely and adequate funding at critical stages.Still, he thinks that the only way forward is to look at the aggregate of all the ongoing efforts — from startups such as HrdWyr to conglomerates like Tata setting up foundries and OSATs — as an opportunity to tap a trillion-dollar sector, and, as a nation building mission. Chapters (00:00) The shift toward custom silicon and new high-volume markets (03:37) The genesis of HrdWyr and identifying a generational shift in AI (09:02) From bits to atoms: transitioning from cyber AI to physical AI (12:54) Designing AI-first architectures for the intelligent edge (21:45) Executing the product roadmap with strategic anchor customers (30:23) Building a world-class semiconductor engineering team in India (35:21) India’s strategic role in the global $1 trillion semiconductor market (43:46) The 15-year vision for maturing the Indian deep-tech ecosystem

    Custom silicon: Ramamurthy Sivakumar at HrdWyr on the opportunity to build from India for the world

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簡介

This is a podcast dedicated to chronicling and supporting the growth of India's deep tech and climate tech startup ecosystems. One conversation at a time.