India Tech Report

GS Madhusudan, co-founder and CEO of Incore Semiconductors, says India’s chip ecosystem needs many more people who can conceive and market products.

My guest in today’s episode is GS Madhusudan, Co-Founder and CEO of Incore Semiconductors, a company at the forefront of processor IP innovation in India. With nearly four decades of experience in the technology sector, Madhusudan has played a significant role in shaping India’s semiconductor landscape.

Before co-founding Incore in 2018, he managed the Shakti processor project at IIT Madras, which helped build foundational expertise for commercial processor design in the country.

Incore Semiconductors, incubated at the institute, emerged from this ecosystem, focusing on RISC-V architecture to offer customisable processor IP for applications ranging from consumer electronics to automotive and industrial settings.

Under Madhusudan’s leadership, Incore is combining technical advancement with practical business strategies, offering solutions for secure, fault-tolerant, and AI-optimised processors. The company has developed a flexible SOC generator platform and collaborates with multiple foundries, supporting customers from IP licensing to product tape-out.

Incore is backed by the well-known VC firm Peak XV Partners.

Madhusudan remains an active advisor to government agencies. He emphasises the importance of talent development, marketing and product management, and practical deployment in India’s quest for a stronger presence in the global semiconductor market.

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

Co-Founders of PeelONPeelON Venkata Ravi Sankar Ummidi and Taraka Ramji Moturu have just raised $1 million in seed funding. Image courtesy company.

C-CAMP announces date for bio entrepreneurship competition finale
C-CAMP, with support from the Government of Karnataka, will host the grand finale of the National Bio Entrepreneurship Competition (NBEC 2025) on August 23 at Hotel LaLit Ashok, Bengaluru. The event will see participation by IT Minister Priyank Kharge and Biocon Chairperson Dr. Kiran Mazumdar-Shaw.
This is the eighth season of the NBEC. This year, winners stand to gain nearly Rs. 40 crore in prizes and investments, chosen from 3100+ applications across 34 states and UTs.

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BEL, Centum team up on advanced indigenous defence electronics
Bharat Electronics Limited (BEL) and Centum Electronics have inked an MoU to jointly develop and manufacture advanced electronic modules and systems for defence applications including electronic warfare, radar, and secure military communications.
The collaboration aims to strengthen indigenous technology capability in critical domains, supporting national defence and strategic electronics.

Ather Energy launches 2025 Ather 450X electric scooter in Sri Lanka
Ather Energy, one of India’s leading electric two-wheeler makers, has launched the new 2025 Ather 450X model in Sri Lanka, expanding to 19 showrooms nationwide, the company said in a press release. The scooter features multi-mode traction control and advanced tyres for enhanced performance and range.
Ather’s international growth now includes Nepal and Sri Lanka, with expanded EV infrastructure and a focus on building a reliable ownership ecosystem, the company says.

ideaForge unveils Q6V2 GEO UAV for all-terrain, high-precision mapping
ideaForge Technology has announced the global launch of its Q6V2 GEO UAV, debuting a versatile mapping platform designed for extreme environments and diverse use cases, the company said in a press release. Offering more than 50 minutes of LiDAR-enabled flight and modular payloads — including AI-powered imaging and hyperspectral sensors—the Q6V2 GEO empowers industries, governments, and researchers with advanced geospatial intelligence and seamless cloud integration for actionable insights and 3D mapping.

Setco Auto Systems and VNIT Nagpur sign MoU for automotive research
Setco Auto Systems, a subsidiary of Setco Automotive Ltd, has joined forces with VNIT Nagpur to drive joint research and innovation in automotive technology, according to a press release. The partnership will focus on developing next-generation clutch systems, electric mobility, and sustainable vehicle solutions, including establishing a Clutch Research Laboratory at VNIT.
VNIT students will gain industry exposure through live projects and mentorship from Setco’s R&D experts.

mRNA cancer vaccine shows tumor-eliminating promise in mice
University of Florida researchers developed an experimental mRNA vaccine that, when paired with immunotherapy drugs in mice, eliminated resistant tumors, Science Daily reports. The vaccine stimulates the immune system broadly, rather than targeting a specific protein, showing potential as a universal cancer vaccine.
The results build on previous clinical work and indicate this approach could sensitize immune responses across many cancer types, with human trials planned.

Waterloo researchers create robots to dissolve kidney stones quickly
University of Waterloo researchers have developed soft, flexible robots that use magnets and an enzyme to dissolve kidney stones directly in the urinary tract, according to The Robot Report. Tested in 3D-printed models, the strips deliver urease to reduce urine acidity, shrinking stones within days. This minimally invasive method could help patients who cannot tolerate drugs or surgery. Next steps include animal studies and refining the robotic system for precise, doctor-controlled targeting of stones.

Hades Mining raises €5.5 million to launch ultra-deep drilling tech
Munich’s Hades Mining has raised €5.5 million in pre-seed funding led by Project A to develop cutting-edge drilling systems for ultra-deep geothermal energy and critical mineral deposits, EU Startups reports.
Founded earlier this year, the startup aims to reduce Europe’s reliance on imports by unlocking extreme underground resources through proprietary, sustainable in-situ recovery technology. Funds will accelerate tech development and site preparation for mineral and energy extraction.

growX back’s PeelON’s green packaging vision in $1 million funding
PeelON, a bio-tech startup in Vishakapatnam, has raised $1 million in seed funding led by growX Ventures, with participation from Boston Venture Group and Climate Angels, the company said in a press release.
PeelON develops plant-based, compostable packaging that extends the shelf life of fruits and vegetables and is already commercially used in India and the US. The capital will fund expanded R&D and production, hiring, and certifications across markets.

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Coming up, in the next episode of In Conversation, G S Madhusudan, Co-Founder and CEO of InCore Semiconductors, gives us a sense of how far India’s chip ecosystem has come, and how quickly it’s evolving.
Catch the full conversation on Friday, Aug. 22nd, right here or wherever you get your podcasts. Here’s a one-minute preview.

Inbound Aerospace’s founders Abhijit Bhutey, Aravind IB and Vishal Reddy are developing an unmanned reusable spacecraft for microgravity experiments. Image courtesy the company.

In this episode, I’m joined by Abhijit Bhutey and Vishal Reddy, co-founders of Inbound Aerospace, a startup incubated at IIT Madras. The discussion covers the origins of their journey — from an academic collaboration focused on microgravity research to building a company designed for commercial space experimentation.

They started simply with how the idea came to Aravind IB, their fellow founder, when as a PhD student at IIT Madras, he was exploring microgravity through drop tower experiments. The idea became a startup when Aravind was joined by Vishal, whose background includes graduate studies in the United States, and Abhijit, a former pilot with the Indian Navy who aspired to space entrepreneurship.

In this conversation they explain the challenges and opportunities in creating usable microgravity platforms, detailing Inbound Aerospace’s mission to develop a reusable spacecraft that will carry research projects to low earth orbit and bring experiments back safely to earth.

Abhijit and Vishal give us insights into microgravity’s usefulness in biotech, materials science, and semiconductors, and explain how their vehicle is being designed for efficient re-entry and autonomous landing. The founders also share early milestones, including team building, subsystem testing, and initial funding, and reflect on broader trends and gaps in the Indian space-tech ecosystem.

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

India’s Ultraviolette Automotive, with its flagship F77 electric performance motorcycle has raised funding from Japan’s TDK. Image courtesy Ultraviolette.

ISRO deems Skyroot’s static test of KALAM 1200 solid motor a success
Skyroot Aerospace successfully completed the first static test of its KALAM 1200 solid motor, the first stage of its Vikram-1 launch vehicle, at ISRO’s Sriharikota facility.

The test marks a significant milestone, validating the 11m-long, 1.7m-diameter monolithic composite motor that carries 30t of propellant. With the motor created in line with India’s Space Policy 2023 to foster private sector growth, this achievement readies Vikram-1 for its maiden flight and boosts India’s space economy.

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NASA’s Lunar Trailblazer moon mission ends after spacecraft lost contact just one day post-launch
NASA’s Lunar Trailblazer satellite, which lost contact just a day after its launch on Feb 26, was officially declared lost on July 31. The satellite was meant to map Lunar water. Initial data suggested that misoriented solar arrays caused battery depletion.

Despite global efforts to reestablish communication, the craft spun slowly into deep space, making recovery impossible. The mission’s loss is a setback for low-cost lunar science, but its technologies may aid future attempts to study the Moon’s water.

Optia and Patero unveil post-quantum-enabled GPU compute platform
Optia and Patero, US startups both, have launched an industry-first GPU compute platform equipped with post-quantum encryption, designed for defense and edge applications, Quatum Insider reports.

The platform integrates Patero’s CryptoQoR post-quantum cryptography with Optia’s high-performance compute hardware, ensuring protection for AI/ML, ISR (intelligence, surveillance, reconnaissance), and tactical edge workloads against both current and future quantum cyber threats.

Stanford scientists advance knowhow that slows neurodegeneration, promising future therapies for Alzheimer’s and Parkinson’s
Stanford University researchers have developed a breakthrough technique to replace damaged brain immune cells (microglia) in mice, dramatically improving lifespan and motor function.

By using a sequence of microglia depletion, targeted brain irradiation, and immune suppression, over 85 percent of brain microglia were successfully replaced by healthy donor cells, with treated mice living up to 250 days versus 135 for controls. The transplanted cells restored critical enzymes to neurons, offering hope for “off the shelf” therapies treating rare genetic disorders and more common neurodegenerative diseases.

Alien meteorite mineral upends the rules of heat conduction with hybrid crystal-glass properties
Columbia University scientists have discovered a rare mineral in a centuries-old meteorite that defies traditional heat conduction rules, exhibiting both crystal and glass traits, SciTechDaily reports.

Uniquely, it maintains constant heat flow across temperature changes, unlike usual materials whose conductivity varies. AI and quantum physics confirmed its hybrid atomic structure and stable thermal properties between 80K and 380K. This discovery could advance heat management tech in electronics, steel production, and aerospace, potentially making processes more efficient and reducing carbon footprints in critical industries.

Self-adaptive electrolytes could transform fast-charging, high-energy batteries
University of Maryland researchers introduced self-adaptive electrolytes that expand their electrochemical stability window as batteries charge, overcoming the key trade-off between fast charging and high energy density, Tech Xplore reports.

Inspired by phase equilibrium theory and the ‘salting-out’ effect, these ternary electrolytes sit at the cloud point and undergo localized phase separation in response to salt concentration gradients created during charging. Tested in zinc-metal and lithium-metal batteries, they achieved exceptional efficiency and improved stability, promising quicker, safer, and longer-lasting batteries for future electric vehicles and devices.

Aira raises €150 million to commercialise clean heat pump technology
Aira, a startup in Sweden, has raised €150 million in equity from existing backers including Altor, Kinnevik, Lingotto, and Temasek to scale up clean heating across Europe, Tech Funding News reports.

The funds will help Aira expand production at its Polish factory, boost growth in Germany, Italy, and the UK, and invest in R&D for innovative heat pumps. With 130 million gas boilers still operating and heating accounting for 10 percent of Europe’s emissions, Aira’s high-efficiency heat pumps aim to replace gas systems, cut costs by 40 percent, and drive rapid decarbonisation.

MIT spinout Strand Therapeutics raises $153 million to develop programmable mRNA therapies
Strand Therapeutics, founded by MIT grads Jake Becraft and Tasuku Kitada, has raised $153 million in Series B funding led by Kinnevik, bringing its total investments to $250 million and valuing the company at $550 million.

The funding will advance their lead candidate, STX-001, a programmable mRNA therapy, engineered to express interleukin-12 in tumours, helping the immune system better target and attack cancer. Early Phase 1 results show strong safety and anti-tumour activity in treatment-resistant cases, promising to advance cancer therapy.

Eyestem Research raises $10 million to advance clinical trials for eye disease therapy
Eyestem Research, in Bengaluru, has raised $10 million in Series B funding led by Raju Barwale and Alkem Laboratories’ Sandeep Singh, Entrackr reports. The funds will help Eyestem complete an ongoing Phase 2 clinical trial in India and support US FDA IND application preparations.

Founded in 2015, Eyestem is developing Eyecyte-RPE, a therapy targeting geographic atrophy from dry age-related mac...

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Coming up on Aug. 14

Why are SpaceTech startups working to build various microgravity platforms and solutions catching the attention of investors?
In this exciting field of science and engineering, experts see many possibilities: from drug discovery and better medicines to 3D-printed life-saving organ replacements to ultra-efficient semiconductors.

In my next episode of IndiaTechReport: In Conversation, I catch up with Abhijit Bhutey and Vishal Reddy, co-founders at Inbound Aerospace along with ARAVIND I B, whose idea has become this venture.

Backed by investors including Speciale Invest, and incubated at Indian Institute of Technology, Madras, this trio is developing an unmanned automated reusable platform for microgravity experiments in advanced manufacturing.

Another fine example of an attempt to contribute to Aatmanirbhar Bharat in a strategic tech domain, and I’m happy to bring you this conversation ahead of Independence Day. here’s a 2-minute preview.

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

Manastu Founders Ashtesh Kumar, CTO, and Tushar Jadhav, CEO have raised $3 million to advance green propulsion. Image courtesy the company.

Speciale Invest closes Fund III at Rs 600 crore to double down on deep tech in India
Speciale Invest has closed its third fund at Rs 600 crore, exceeding the Chennai-based early-stage deep-tech VC firm’s initial target, according to multiple media reports. With Fund III, the VC firm will invest Rs 7-10 crore in 18-20 early-stage startups focused on AI, space tech, climate tech, quantum systems, advanced manufacturing, and dual-use strategic tech, with flexibility for larger cheques.

The fund emphasises scaling ‘sovereign-edge’ technologies and globally competitive IP from India, with half set aside for follow-up investments. Ownership stakes are targeted to increase to 15 percent.

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Lavni Ventures launches Rs 200 crore fund to back deep-tech impact startups
Lavni Ventures, in Bengaluru, has announced the first close of its Rs 200 crore deep-tech impact fund to support science-driven startups tackling climate, healthcare, energy, and education challenges, Entrackr reports. The fund will invest Rs 2-8 crore at Seed to Series A stages and Rs 8-15 crore for follow-ons, focusing on scalable solutions and measurable impact.

Lavni’s Fund I portfolio enabled millions of student learning hours, thousands of healthcare interventions, and significant CO₂ savings, according to the report.

Neuralzome Cybernetics raises $2.4 million to advance autonomous robotics tech
Neuralzome Cybernetics, in Bengaluru, has raised $2.4 million in pre-seed funding led by 8X Ventures and others to accelerate its autonomous robotics technology across sectors like agriculture, mining, and manufacturing, Economic Times reports.

Founded in 2023, the startup develops teachable, no-code AI agents, targeting Robot-as-a-Service for labour-intensive markets. Its NeuralPilot platform, integrated with RedPill simulation, drastically reduces robot training time and costs. The new investment will support operations expansion in North America and Europe.

Manastu Space raises $3 million for green propulsion and in-orbit refuelling tech
Manastu Space, in Mumbai, has raised $3 million in an extended Series A round led by the VC firm Capital-A, to advance its green propulsion and in-orbit refuelling tech, the company said in a press release. Existing investors, including Capital 2B and IAN, also participated in this round which marks Capital A’s first space-tech investment, according to the release.

The funding will accelerate the commercial rollout of Manastu’s green propulsion and debris-avoidance systems, and advance in-orbit refuelling technologies. Founded by IIT Bombay alumni, the startup aims to expand its U.S., Europe, and Asia presence, tapping into the growing $40B Indian private space economy.

Colruyt boosts grocery order fulfilment productivity with autonomous mobile robots
Colruyt Group, a large supermarket chain in Europe, partnered with TCS to automate order picking in its Collect & Go centres using autonomous self-driving vehicle (SDV) robots. These robots guide staff, optimise routes, and display items to pick, raising picking productivity by 20 percent and reducing costs. This innovation streamlines warehouse operations, handles rising demand, and sets the foundation for further automation across Colruyt’s distribution network.

Rishabh Agarwal, co-founder and CEO, Peer Robotics is building autonmous collaborative robots for industrial use.

ViewPoint

Here’s a deep tech founder’s sincere career advice for students (and schools and universities) that applies beyond science and engineering, in the age of AI.

Instead of scratching the surface via multiple projects in different areas, would it be better to focus on one area of specialisation and gain authoritative depth and experience in understanding what might fail or work?

This will be more valued and sought after by employers because generative AI has already taken over much of the broader general knowledge, says Rishabh Agarwal, Co-Founder and CEO of PeerRobotics, in my recent conversation with him.

Therefore, if you’re a student today, make the focused effort to become an authority in your chosen field, at whatever level you’re studying currently. And if you’re an institution, find ways to help your students do that.

What would you say is the biggest bottleneck preventing Indian Deep Tech startups from scaling?
And why does a base in the US make a big difference in this regard?
Here’s a 2-minute View point from Rishabh Agarwal, Co-Founder and CEO of Peer Robotics

ViewPoint

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

NISAR, a world first dual band synthetic aperture radar built jointly by ISRO and NASA was successfully launched on a GSLV-F16 rocket.

ISRO, NASA launch historic NISAR satellite to revolutionize Earth observation
In the successful launch of a historic satellite mission being conducted jointly by Indian Space Research Organisation and America’s National Aeronautics and Space Administration, the NASA-ISRO Synthetic Aperture Radar (NISAR) satellite, was sent to space yesterday onboard ISRO’s GSLV-F16 rocket from Sriharikota, according to an update provided by ISRO.

NISAR is the world’s first Earth observation satellite equipped with dual-frequency L- and S-band synthetic aperture radars. the 2,393-kg spacecraft will operate in a 747-kilometre Sun-synchronous orbit for at least three years.

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NISAR will scan the globe every 12 days, providing high-resolution, all-weather imagery critical for tracking earthquakes, volcanic eruptions, ice sheet movement, and environmental changes. The $1.5 billion mission, featuring a 12-meter deployable antenna and state-of-the-art SweepSAR technology, exemplifies a decade-long Indo-US partnership. SweepSAR stands for sweep synthetic aperture radar, and the technology enables both wide area coverage and fine spatial resolution in Earth observation.

All data will be freely accessible, supporting global disaster management, infrastructure monitoring, climate science, and sustainable development for both advanced and developing regions.

Harvard shrinks quantum computing with chip-thin metasurface
Harvard University researchers have engineered what they describe as an ultra-thin ‘metasurface’ that collapses complex quantum optical systems onto a single chip, according to a news post on the university’s website. The device, which leverages nanoscale structures to precisely control light, offers a compact replacement for bulky quantum setups used in photon-based information processing. This breakthrough, led by Professor Federico Capasso, could enable scalable, room-temperature quantum computing and networks, transforming the field with greater stability and manufacturability.

Columbia develops radiation-hardened chips for CERN’s particle collider
Columbia University researchers have developed next-generation radiation-hardened microchips designed for the Large Hadron Collider at CERN, SciTech Daily reports. The chips are built to withstand intense radiation while maintaining high performance, crucial for capturing data from high-energy particle collisions. This technological leap, achieved by Columbia’s engineers, is poised to significantly boost the longevity and reliability of detectors, which are central to advancing research in particle physics.

Fal raises $125 million as AI infrastructure valuations surge
Fal, a San Francisco based provider of artificial intelligence infrastructure, has raised $125 million in a Series C funding round, valuing the company at $1.5 billion, Reuters reports. Led by Meritech and joined by Salesforce Ventures, Shopify Ventures, and Google AI Futures Fund, the investment reflects surging demand for generative AI models beyond text. Fal’s technology powers enterprises to create tailored advertising assets and supports multimodal AI applications, marking its expansion in the rapidly growing generative media market.

Safe Security raises $70 million to build AI-powered cyber defense
Safe Security, an AI-led cyber risk management tools provider in Palo Alto, has raised $70 million in a Series C round led by Avataar Ventures, alongside Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 Ventures, Economic Times reports. The funding will fuel expansion of research and development, particularly in autonomous agentic AI systems, as Safe pushes toward creating cyberAGI — an artificial general intelligence for cybersecurity. The company, founded by IIT Bombay alumni, helps major enterprises like Google and Fidelity assess and mitigate real-time cyber risks.