Founders of Perceptyne Robots, Mrutyunjaya N, Raviteja Chivukala and Jagga Raju N are building autonomous, dexterous robots and the physical AI stack needed.
Happy new year to all of you deep tech enthusiasts in India. An area in which 2026 is already shaping up to be one that will likely see advances, is robotics and automation and the AI needed for this, being called physical AI or even ’embodied AI’.
If you caught Boston Dynamics CSO Marc Theermann recently saying the company’s Atlas humanoid is “not designed for YouTube” but for the real world, what’s your view on that — premature or prophetic? Will 2026 show us?
Listen to the preview
To kick off my reports this year, I got a chance to chat with a dynamic entrepreneur trio building what they say will be autonomous and dexterous robots for the real world — at Perceptyne Robots.
So, coming up on Tuesday, Jan. 13, this year’s first episode of India Tech Report: In Conversation, will feature Mrutyunjaya N, Raviteja Chivukala and Jagga Raju N, co-founders of this Hyderabad-based robotics and physical AI startup.
Their venture, which turns four this year, is backed a couple of well-known deep-tech VC firms, Yali Capital and Endiya Partners. Catch the full conversation right here, or wherever you get your podcasts. Here’s a less-than-a-minute preview.
Happy new year, dear listeners and readers. I bet 2025 was an eventful year for you — it certainly was, for me. As we look ahead at 2026, here’s one more quick look back at how Indian tech startups fared in the year gone by.
This infographic is courtesy Tracxn, a leading data intelligence provider in India on private markets.
(00:20) Mobile robots market to nearly double by 2030
Global demand for mobile robots is set to surge, with the market projected to grow from $27.39 billion in 2025 to $52.11 billion by 2030, driven by AI, 5G, e-commerce, and labour shortages, while Asia-Pacific leads adoption and high costs, regulatory hurdles, and integration challenges remain important constraints.
(00:50) Hyundai debuts MobED autonomous robot platform at iREX 2025
Hyundai Motor Group has unveiled MobED, a production-ready autonomous mobility robot platform, at the iREX 2025 robotics show in Tokyo, positioning it as the company’s first mass-produced mobility robot for industrial and everyday applications, with Pro and Basic variants set for market launch in the first half of 2026.
(01:17) IFC backs Gujarat Fluorochemicals’ EV unit with $50 million
IFC will invest about $50 million in Gujarat Fluorochemicals’ EV venture GFCL EV Products to build India’s first fully integrated battery-materials plant, supporting local production of key inputs for electric vehicle and energy storage batteries and reducing import dependence while strengthening the country’s position in global clean-energy supply chains.
(01:46) Viavi, QNu Labs team up on quantum-safe network security
Viavi Solutions and QNu Labs, a quantum cybersecurity startup in India, have formed a strategic R&D partnership to develop test frameworks, standards, and reference architectures for quantum-safe network security, spanning post-quantum cryptography, quantum key distribution, quantum random number generator, and hybrid systems, with plans for a broader industry consortium to help operators and enterprises transition from classical to quantum-resilient infrastructures.
(02:20) Skylark Drones, WELL Labs ink MoU on data-led water intelligence
Skylark Drones has signed an MoU with Bengaluru-based WELL Labs to build data-driven water-resource intelligence platforms, according to a press release. The platforms will fuse large-scale drone-based mapping with hydrological science, supporting watershed management, flood resilience, and climate-linked water planning for governments and communities across India.
(02:46) Shastra VC launches SDEX deep-tech fellowship with $100,000 grants
Shastra VC has launched SDEX, Shastra Deep-Tech Excellence Fellowship, a 16–24-week programme to help researchers at IITs, IISc, NITs and other labs turn frontier technologies into venture-ready startups, with the first cohort set to pick up to 15 teams and provide each with equity-free funding and resources of up to $100,000 dollars.
(03:20) Chiratae launches Sonic DeepTech with cheques up to $2 million
Chiratae, a VC firm in Bengaluru, has launched the Sonic DeepTech programme to back early-stage Indian deep-tech startups with seed cheques of up to $2 million, promising 48-hour investment decisions, and access to domain experts, corporate partners, and portfolio founders to help teams move quickly from lab prototypes to market-ready products.
(03:45) ChemLex raises $45m for AI-driven autonomous drug discovery lab in Singapore
ChemLex, an AI-for-science startup, has raised 45 million dollars led by Granite Asia and is establishing its global headquarters and a 24/7 self-driving chemistry lab in Singapore to accelerate small-molecule drug discovery, supported by new technical hires and an MoU with Singapore’s Experimental Drug Development Centre.
(00:21) China’s Zhuque-3 reaches orbit but crashes on landing
Chinese rocketmaker Landspace’s stainless steel, methalox-fuelled Zhuque-3 reached orbit on its debut flight from Jiuquan, successfully deploying its expendable second stage before the reusable first stage failed during landing and exploded near the target zone. The company said the test still met key recovery objectives and noted Zhuque-3’s Falcon 9–class payload capability to low Earth orbit.
(00:53) RNA drug TY1 taps hidden DNA repair pathway
Scientists at Cedars-Sinai have created TY1, an RNA-based therapy that switches on a recently identified DNA repair pathway, enhancing the body’s ability to mend genetic damage and regenerate injured tissue. In preclinical studies, TY1 boosted repair processes without relying on traditional DNA-repair mechanisms, suggesting potential applications in treating cancer, age-related decline and degenerative diseases if future trials confirm its safety and efficacy.
(01:30) MIT’s light-based sensor aims to replace glucose finger pricks
MIT researchers have created a shoebox-sized Raman spectroscopy device that measures blood glucose through the skin, matching the accuracy of commercial continuous glucose monitors in an initial study on a healthy volunteer. The team has already built a cellphone-sized wearable prototype and plans larger clinical trials, with a long-term goal of a watch-like, noninvasive glucose monitor for diabetics.
(02:01) Planys raises Rs. 100 crore for global and defence push
Underwater robotics startup Planys Technologies has raised Rs. 100 crore in a round led by investors including Ashish Kacholia and Lashit Sanghvi, with participation from existing backers. The capital will support global scale-up of its underwater inspection systems and the launch of defence unit Planys Ark to develop indigenous unmanned underwater vehicles and set up a new production facility near Chennai.
(02:30) Activate launches $75m fund for early deep tech
Aakrit Vaish, co-founder of Haptik, and Pratyush Choudhury, former principal investor at Together, have unveiled Activate, a $75 million venture fund targeting India’s earliest-stage deep tech and AI startups, including teams at the ideation stage. The fund plans to write cheques of about $0.5–3 million, supported by a global LP network, and has already begun deploying capital into young AI-first companies.
(03:02) EU backs 40 women-led deep tech startups
EU-funded project Women TechEU has selected 40 women-led deep tech startups from 1,107 applicants in its fourth and final call, awarding each a EUR 75,000 non-dilutive grant plus tailored business support. Winners span 20 countries and focus mainly on AI, biotech and clean tech, with a follow-on initiative planned to continue support beyond 2026.
(03:35) IIT Madras incubator tops 500 deep-tech startups
IIT Madras Incubation Cell has incubated 511 deep-tech startups with a combined valuation of over Rs. 53,000 crore, creating more than 11,000 direct jobs and cementing its status as India’s largest deep-tech hub. In FY 2024–25, it onboarded 100+ startups under the “Startup Shatam” mission, with portfolio companies spanning space, mobility, climate-tech, semiconductors and frontier AI.
Janaki Venkatraman, Santanu Datta and Arindam Ghatak, co-founders of Biomoneta. Image source: company.
(00:20) IVCA forum urges more domestic capital for deep tech
The Indian Venture and Alternate Capital Association hosted its Domestic Institutional Investors & Exits Forum 2025 in New Delhi, spotlighting the role of local capital in deep tech and biotech. An MoU between IVCA and BIRAC aims to boost capacity building and investment awareness, as BIRAC’s Managing Director Dr. Jitendra Kumar urged institutional investors to back research-led startups moving from incubation to commercial scale.
(00:53) Rama Devi Lanka joins NITI Aayog frontier tech hub
Rama Devi Lanka has joined NITI Aayog’s Frontier Tech Hub to drive state-level engagement on AI, blockchain, drones and other emerging technologies. The former Telangana state emerging tech director will work with state governments to scale pilots, shape policy frameworks and strengthen innovation ecosystems, aiming to align frontier tech deployments with inclusive governance and public-impact use cases nationwide.
(01:22) Biomoneta wins US FDA nod for Avata Rx
Biomoneta, a Bengaluru startup, has secured US FDA approval for Avata Rx, its ZeBox-powered air-decontamination device, becoming the first Indian company cleared in this category. The system targets airborne pathogens in high-risk clinical and biotech environments, backed by independent validations including an IISc study on SARS-CoV-2. The milestone strengthens its global market entry and validates investor Beyond Next Ventures’ deep-science thesis.
(02:00) Moonrider raises $6m for EV tractor rollout
Moonrider, an electric tractor startup in Bengaluru, has raised $6 million in a Series A round led by deep-tech fund pi Ventures, with Singularity AMC, Advantedge Founders and Micelio Fund participating. The capital will fund commercial rollout of its fully homologated, road-ready electric tractors, which the company says match diesel tractors on upfront price while sharply lowering operating costs to improve farm economics.
(02:32) SynaXG raises over $20m for AI-RAN platform
Singapore deep-tech startup SynaXG has raised over $20 million in its first funding round, led by January Capital, Vertex Ventures and Qualgro. The company builds AI-powered radio access network (AI-RAN) technology for wireless infrastructure. The capital will be used to scale product development and engineering, and deepen partnerships with telecom operators and enterprise customers deploying next-generation network solutions.
Niobium raises $23m to advance FHE silicon
(03:03) US-based Niobium has raised more than $23 million in an oversubscribed follow-on round to accelerate its second-generation fully homomorphic encryption (FHE) hardware platform. The funding will support the shift from prototype to production-ready ASICs, hardware–software co-design and customer pilots. Existing backers Fusion Fund and Morgan Creek joined new investors including Blockchange Ventures, ADVentures, Korea Development Bank and JobsOhio Ventures.
(03:37) Korean team links desalination with hydrogen production
Researchers at Seoul National University have built a modular water-purification system that simultaneously produces clean water and hydrogen using ion concentration polarization across a single cation-exchange membrane. The finger-sized device removes salts and contaminants while generating hydrogen, recovering about 8–10 percent of input energy. Its compact, scalable design targets use in disaster zones, remote sites, military deployments and even space missions.
Vishal Katariya (L) at Ankur Capital and Sunil Cavale at Speciale Invest have recently released their semiconductor startup landscape in India report.
In a recent episode of Conversations at India Tech Report, Sunil Cavale at Speciale Invest and Vishal Katariya from Ankur Capital discussed their report on the Semiconductor Startup Landscape in India, which was released last month. The two deep-tech VC investors outlined some of the top trends they see developing “on the ground”.
They also spoke about what gave them a sense of optimism about this sector’s growth in India, including the personas of the founders of emerging startups, the deal flows and origination of capital and developments such as entrepreneurs seeking to go beyond fabless chip design into manufacturing in India for India and from India for the world. Here are my top five takeaways from the conversation.
1. Funding maturation signals investor confidence
India’s semiconductor startups are graduating faster through funding stages. Multiple companies — including Mindgrove, Netrasemi, and Morphing Machines — raised Series A rounds within 18 months of their seed funding. These rounds are two to three times larger than previous raises; Netrasemi’s was about 10 times bigger.
The speed and scale reflect technical validation and market traction. Zoho, a software company, led Netrasemi’s recent round, signalling that non-traditional investors now see merit in the sector. Around $100 million has flowed to chip product startups in India over the past three years or so, mostly from domestic funds including Speciale Invest, Ankur Capital, Peak XV Partners and others.
Growth capital remains limited compared with global standards, but the trajectory suggests that larger rounds will follow as products reach customers.
Entrepreneurs are now building for the manufacturing side, not just fabless design. Startups are developing quality-inspection tools, lithography equipment, process innovations, and low-volume prototyping capabilities. This shift responds to government investment in fabrication and packaging infrastructure.
The ecosystem is moving towards full-stack semiconductor capability — design, manufacturing, and packaging — rather than remaining concentrated in design services. Founders recognise that India’s semiconductor mission allocates substantial capital to manufacturing, creating a domestic market for ancillary technologies. This diversification reduces dependence on global supply chains and addresses geopolitical risks.
3. Talent pool deepens with second-time founders, researchers turning entrepreneurs
Industry experts widely believe India holds 20 per cent of global semiconductor design talent, much of it in services roles. A growing cohort has worked in multinational companies — Qualcomm, Texas Instruments, Intel — then spent years in Silicon Valley or Europe before returning to start-up semiconductor product companies in India.
These founders bring experience beyond design: sales, business development, application engineering, and management. They understand how ecosystems function elsewhere and can build well-rounded teams. Four founder profiles dominate: academics commercialising decades of research, returnees from multinationals, second-time entrepreneurs, and recent graduates who studied abroad. Government schemes and policy support have incentivised these founders.
4. Product diversity spans edge computing to compound semiconductors
Startups are building chips for edge applications — IoT devices, cameras, smart meters — addressing high-volume, lower-value markets in India. Others focus on communication and radio-frequency products for 5G, 6G, radar, and defence.
Compound semiconductor activity is emerging in gallium nitride and silicon carbide, led by teams from top institutions including IIT Bombay and IISc in Bangalore. Photonics startups are developing networking and interconnect technologies. Some companies target data-centre compute, while others integrate artificial intelligence into edge devices.
Products vary in complexity, cost, and timescale: consumer electronics may reach market within two years, while high-performance computing or photonics chips need three to four years.
5. Geopolitical and capital constraints remain substantial
Taiwan dominates chip fabrication. ASML in the Netherlands controls the high-end lithography equipment. Geopolitical instability poses risks that affect all startups, not just Indian ones. Talent costs are high. Semiconductor engineers command premium salaries globally and in India.
Startups often cannot afford top-tier multinational employees on current funding. Markets move quickly, creating product-fit risks. While acquisitions such as Kinara (bought by NXP for $300 million) demonstrate exit potential, Indian startups have not yet raised the hundreds of millions that global peers routinely secure.
