India Tech Report

Tag: deep-tech

  • TI’s $60 billion US plan, L&T’s second ESG bond, Embedl’s edge-AI tech, Neoclease’s gene-editing platform, and more

    TI’s $60 billion US plan, L&T’s second ESG bond, Embedl’s edge-AI tech, Neoclease’s gene-editing platform, and more

    Daily brief on deep tech and climate tech from India and around the world.

    Texas Instruments commits $60 billion to semiconductor expansion

    The investment will build seven fabs across Texas and Utah, boosting U.S. production of 300mm chips for companies like Apple and Nvidia. Supported by $1.6B in CHIPS Act funding, the project will create 60,000 jobs and manufacture hundreds of millions of chips daily. 

    Embedl secures €5.5 million to scale its edge AI platform

    The Swedish deep tech startup, spun out from Chalmers University, raised pre-Series A funding to make edge-AI deployment accessible for developers in robotics, defense, and automotive. Their platform optimizes AI inference for local hardware, reducing cloud dependency and energy use. Chalmers Ventures led the round, bringing total funding to €12 million.

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    OrangeQS sets Dutch record with €12 million seed round

    The Delft-based quantum startup raised the largest seed investment in the Netherlands’ quantum sector to scale automated testing systems for quantum chips. Funding will accelerate the transition from lab prototypes to industrial quantum computers, leveraging deep academic expertise.

    Neoclease wins Merck’s biotech grant for its AI gene-editing tech

    The Boston startup won Merck’s 2025 North American Advance Biotech Grant for its AI-designed platform targeting Parkinson’s disease. The grant provides access to Merck’s manufacturing tech and regulatory support to scale therapies for 6,000+ genetic disorders.

    Fervo and Form Energy advance energy projects for AI

    Fervo is building the world’s largest geothermal plant in Utah to power data centers, while Form Energy raised $400 million to scale iron-air batteries. Both startups are fast-tracking deployments amid surging AI-driven energy demand, with Constellation Energy restarting nuclear plants for Microsoft.

    Typedef raises $5.5 million for AI data infrastructure

    The startup’s platform automates data pipeline management for LLM workloads, enabling faster AI deployment. Pear VC led the seed round to target the $200B AI infrastructure market, simplifying prompt experimentation and pipeline optimization for enterprises.

    L&T considers second ESG bond after strong demand for debut issue

    Indian infrastructure giant Larsen & Toubro is exploring a second round of ESG (environmental, social, and governance) bonds after its inaugural ₹500 crore ($58 million) issue sold at a premium under India’s new ESG debt framework. The three-year notes, rated AAA by Crisil, were priced at a 6.35 percent coupon—lower than comparable bonds—reflecting high demand from banks and mutual funds. SBI Mutual Fund was a key investor in the debut.

    In Conversation

    In-depth conversations with entrepreneurs, investors, industry leaders and other stakeholders building India’s deep tech and climate tech ecosystems.

  • Rare-Earth free: Bhaktha Keshavachar on Chara’s strategic mission, one motor at a time

    Rare-Earth free: Bhaktha Keshavachar on Chara’s strategic mission, one motor at a time

    My guest today is Bhaktha Ram Keshavachar, founder and CEO of Chara Technologies, in Bengaluru. Chara is at the forefront of a technological shift that could reshape for the better India’s electric mobility landscape, and potentially make an impact overseas as well.

    The mission is both urgent and ambitious: to build high-performance electric motors that are free of rare earth magnets — a critical component in most electric vehicles and industrial machines today.

    Bhaktha and his fellow founders Ravi Prasad, the chief motor designer, and Mahalingam Koushik, the CTO at Chara, are engineering veterans from industry, each one bringing decades of experience to their entrepreneurial journey.

    It started in late 2019, just as the world was heading into the uncertainty of the Covid pandemic. Recognizing the strategic risks posed by global dependence on rare earth minerals — with China controlling about 90 percent of the global refining and processing — and also the environmental impact, he and his team set out to engineer an alternative.

    The result is a new generation of reluctance motors, designed and manufactured in India, that match or surpass the efficiency of traditional permanent-magnet motors, while sidestepping the environmental and geopolitical pitfalls of rare earth mining.

    L-R: Ravi Prasad, chief motor designer, Mahalingam Koushik, CTO, and Bhaktha Keshavachar, CEO at Chara Technologies are building a new generation of made-in-India reluctance motors

    In this conversation, Bhaktha shares the technical and business challenges Chara has overcome — from early R&D pivots and tackling the challenge of torque ripple in reluctance motors, to building a pilot production facility and securing industry partnerships, including a manufacturing and distribution alliance with Greaves Cotton.

    He discusses the hurdles of deep tech entrepreneurship in India, the evolving talent landscape, and Chara’s plan to take its products global.

    Whether you’re a founder, investor, engineer, or simply curious about the future of cleaner technology, this episode offers an example of how Indian deep tech innovation is rising to meet one of the challenges of our era: building a sustainable, secure, and scalable electric future — one motor at a time.

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  • Deep tech wrap on Friday: Pixxel sparks at iDEX, Hyperbots funding, AI4Bharat gets second Nilekani grant, and more

    Deep tech wrap on Friday: Pixxel sparks at iDEX, Hyperbots funding, AI4Bharat gets second Nilekani grant, and more

    Daily brief on deep tech and climate tech from India and around the world.

    Mistral AI launches enterprise coding assistant to rival GitHub Copilot

    Mistral AI has introduced Mistral Code, a new enterprise-focused coding assistant designed to compete directly with GitHub Copilot. The tool offers on-premises deployment, robust data privacy, and deep customization for company codebases.

    Built on the open-source Continue project, it features role-based access, audit logs, and 24/7 support, supporting over 80 programming languages. Mistral Code aims to address key concerns in enterprise AI adoption, particularly around security and seamless integration.

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    Hello Tomorrow spotlights 850 deep tech pioneers and award winners

    The 10th Hello Tomorrow Global Summit in Paris showcased 850 pioneering deep tech startups, with Nūmi (France), spotLESS Materials Inc (USA), and Papcup (UK) winning top honors. The event highlighted breakthroughs in AI for drug formulation, carbon capture, and sustainable materials, while emphasizing the importance of global collaboration and strategic partnerships for scaling deep tech ventures.

    Pixxel wins second iDEX grant to develop payloads for IAF

    Pixxel, a Bengaluru-based space tech startup, has secured its second SPARK grant from the Ministry of Defence’s iDEX initiative to develop advanced hyperspectral and mid-wave infrared (MWIR) payloads for the Indian Air Force.

    This funding, under the iDEX DISC 8 Challenge 6.2, will help Pixxel deploy its optical engineering and satellite manufacturing expertise to deliver next-generation, security-grade Earth observation technologies, enhancing India’s airborne and space-based imaging capabilities.

    The grant builds on Pixxel’s prior selection for miniaturized multi-payload satellites and underscores the government’s growing confidence in indigenous innovation and Pixxel’s technology stack.

    Hyperbots raises $6.5 million to automate finance with AI co-pilots

    Hyperbots secured $6.5 million in Series A funding to expand its AI-powered finance automation platform. The startup’s “agentic” AI co-pilots handle complex accounting tasks, aiming to reduce manual work by up to 80 percent accurately, with a focus on fintech, the Indo-US startup said in a press release.

    IG Drones to equip its UAVs with VoxelSensors tech

    IG Drones, a startup in Noida, near New Delhi, has announced a strategic partnership with Belgium’s VoxelSensors to integrate next-generation 3D perception systems into its UAV platforms. This will help its fleet to navigate GPS-denied and visually complex environments such as dense forests, tunnels, and urban zones, IG Drones said in a press release.

    Nandan Nilekani renews support for AI4Bharat to boost India’s language AI infrastructure

    Nandan Nilekani has committed a second multi-year grant to AI4Bharat, a research lab at IIT Madras building open-source AI models for Indian languages. Nilekani’s support recognizes AI4Bharat’s pivotal role in powering multilingual digital services across governance, finance, and agriculture, with its models adopted by platforms like Bhashini and the Supreme Court’s SUVAS.

    The value of the grant was not specified in the press release, but multiple news reports peg his total commitment to AI4Bharat at Rs. 70 crore. That probably means the second grant was Rs. 34 crore, because his first grant was Rs. 36 crore in 2022.

    Okay so, for those of you who might be interested, last week I brought you a roundup of noteworthy deep tech developments in India in 2025.

    Are operators with experience better at startups?

    Before I wrap up, here are some interesting findings from broader survey of Indian startups. A study by Traxcn, a private markets intelligence provider, commissioned by RTP Global, an early-stage VC firm, highlights an increase in operator-led startups in India, with 238 former operators founding ventures from 2022 to 2024.

    These startups are outpacing peers by reaching seed funding faster, raising larger rounds, and securing more investor backing—especially in capital-intensive sectors like fintech, energy, and logistics. In 2024, operator-led startups raised $101 million, a 243 percent jump from 2023, accounting for 11.5 percent of all venture funding.

    They also progress to Series A at higher rates and command higher valuations, indicating operational experience gives founders a decisive edge. The trend reflects a shift in India’s startup ecosystem, where founder expertise and execution are increasingly valued.

    That’s it for today. You can find links to all the headlines in the show notes, wherever you get your podcasts. If you’d like to support my work, all you’ve to do is follow this podcast.

  • From uni lab to deep tech startup: Karthee Madasamy on the Harper Court fund experience

    From uni lab to deep tech startup: Karthee Madasamy on the Harper Court fund experience

    My guest today is Karthee Madasamy, founding managing partner at MFV Partners, a US-based early-stage deep-tech focused VC firm.

    In this episode, Karthee gives us a quick overview of MFV’s $25 million Harper Court Ventures Fund 1 – a specialized vehicle bridging academic research and commercial viability for the deep tech startups coming out of University of Chicago.

    He talks about how the fund addresses critical gaps in early-stage ecosystems through “smart funding,” meaning combining capital with hands-on operational support, to translate lab breakthroughs into viable companies.

    The model focuses on high-impact sectors where UChicago holds world-class capabilities, including quantum computing, life sciences, energy, and artificial intelligence. Unlike traditional VC, the fund embeds itself in the university’s innovation pipeline – collaborating with accelerators, tapping extensive alumni networks, and guiding startups from IP validation to Series A readiness.

    Early bets include Flow Medical, which is developing a next-generation catheter-based therapy to treat acute pulmonary embolism,

    SimCare AI, which is developing a platform for clinical skills training and evaluation, and Beacon, which is developing technology that eliminates viruses, bacteria, and molds from air and surfaces.

    Karthee also briefly discusses potential takeaways and best practices from partnerships such as the Harper Court fund, which are not new in the US, for India’s emerging deep tech ecosystem. MFV’s investments in India include Ati Motors, an autonomous mobile robots company in Bengaluru, and EV energy infrastructure company Sun Mobility.

  • The Climate on Monday: Shipping industry, Microsoft’s deal, Gridcare, DAC, and Stride Green

    The Climate on Monday: Shipping industry, Microsoft’s deal, Gridcare, DAC, and Stride Green

    Shipping industry faces hurdles as it navigates new net zero rules

    The shipping industry, responsible for about 3 percent of global emissions, faces a pivotal period as it seeks scalable zero-emission solutions and adapts to stricter climate policies, Reuters reported last week.

    The sector must cut the greenhouse gas intensity of its fuel by 30 percent by 2035 and 65 percent by 2040 under new global regulations, with the International Maritime Organization introducing emissions thresholds and a pricing mechanism starting in 2028. While innovations like wind-assisted propulsion and biofuels are emerging, concerns remain over the sustainability of some fuels and market uncertainty, according to Reuters.

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    Microsoft’s deal for low-carbon cement from MIT-spinout Sublime

    Microsoft recently agreed to buy up to 622,500 metric tonnes of low-carbon cement from Sublime Systems, a US startup, over the next six to nine years, aiming to reduce emissions from its data center and infrastructure construction. The deal uses new environmental certificates to claim emissions reductions, even when the cement isn’t used directly by Microsoft.

    Sublime’s electrochemical process avoids the carbon emissions of traditional cement production. The agreement will help scale Sublime’s technology and accelerate the adoption of cleaner construction materials in an industry responsible for about 8 percent of global CO₂ emissions.

    Sublime was founded at MIT by Dr. Leah Ellis and Prof. Yet-Ming Chiang, both respected experts in materials science, electrochemical systems, and sustainability research. The company has raised over $200M in funding from leading climate tech investors, global cement incumbents, and cooperative agreements with the U.S. Department of Energy.

    Gridcare uses AI to unlock hidden grid capacity for data centers

    Gridcare, a US startup founded by entrepreneur Amit Narayan, uses generative AI to map and analyze the US electrical grid, according to a TechCrunch report. The startup, which has raised $13.5 million in seed funding recently, could potentially identify more than 100 gigawatts of untapped capacity for data centers, Narayan tells TechCrunch.

    By matching data center developers with utilities and factoring in variables such as fiber connectivity, weather, and regulations, Gridcare aims to help hyperscalers bypass long waits for grid connection. It charges developers based on the megawatts it unlocks, offering a cost-effective alternative to building private power plants.

    So far, North American startups have secured over $22.37 billion in funding for carbon capture, utilization, and storage (CCUS) technologies, altenergymag.com reports. Some $130 million of that was raised in 2025 to date.

    Investors grow cautious on direct air capture despite climate tech boom

    Once a darling of climate tech, direct air capture (DAC) startups in the US have seen a 60 percent drop in venture investment this year amid political uncertainty and wavering corporate commitments, Bloomberg reported early last month.

    With government incentives at risk and high costs per tonne, the DAC sector faces a challenging path to scale, even as overall climate tech investment rises. This shift raises concerns about the sector’s ability to deliver on long-term carbon removal goals, Bloomberg Reporter Coco Liu writes in that insightful piece.

    Stride Green raises $3.5 million to boost tech-enabled clean energy asset financing

    Stride Green, in New Delhi, has secured $3.5 million in seed funding to expand its innovative financing and leasing solutions for renewable energy, electric mobility, and battery storage. The company’s green finance portfolio now exceeds $120 million, supporting more than 3,000 cleantech assets and reflecting India’s surging climate tech investment.

    Stride Green was started last year by the well-known venture debt focused VC, Ishpreet Singh Gandhi, founder and managing partner at Stride Ventures, along with Vivek Jain, co-founder and chief business officer.

  • Vishal Katariya at Ankur Capital on the climate tech opportunity in India

    Vishal Katariya at Ankur Capital on the climate tech opportunity in India

    My guest today is Vishal Katariya, a member of the investment team at Ankur Capital, an early-stage venture capital firm in Mumbai. Vishal is based in Bengaluru.

    It’s World Environment Day today, and Vishal’s here to talk about why and how India is uniquely positioned to lead in building climate solutions that work for the world. Vishal is one of the authors of Ankur’s recent report on private investments in climate tech, titled Transforming India’s Core Sectors, along with Ankur’s founding managing partner Ritu Verma, Shiva Shanker, a partner, and Debansh Sahoo, who’s also on the firm’s investment team.

    To quote from a brief on the report, entrepreneurs are drawing on India’s deep talent pool, a problem-solving mindset shaped by constraint, and a lived understanding of the Global South – not to chase emissions reductions alone, but because industries increasingly recognize that rethinking how we produce, grow, move, and power things is critical to staying competitive and creating long-term economic value in a changing world.

    The report presents a data-backed analysis of how startups and venture investments are shaping these efforts. It tracks 2020–2024 funding trends across India and global markets in five sectors: energy, food and land use, transportation, industrial decarbonization, and carbon and climate management.

    In this conversation, Vishal walks us through a quick overview of Ankur’s findings and briefly touches upon the implications for founders and investors.