India Tech Report

In the next episode of conversations, Satish Padmanabhan, the serial entrepreneur and founder of DIMAAG AI, breaks down the critical power infrastructure shift required to sustain the AI revolution. As AI chip power density surges — with server racks projected to hit 1.1 megawatts by 2028 — traditional 50V data center architectures face a literal “copper cable crisis.”

Satish outlines some of the innovations that have gone into the company’s new ZettaWatt power platform, made for the emerging industry standard of 800V DC that companies such as Nvidia and hyperscale data centres are moving towards. We also discussed his views on India’s promising deep tech landscape, where DIMAAG already has a 100-person team.

Catch the full conversation right here or wherever you get your podcast on Tuesday, Aug. 25. Here’s a quick preview, in which Satish talks about how ZettaWatt offers a critical “ride-through” voltage and frequency capability for data centres.

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According to the latest government data, India’s Design Linked Incentive (DLI) Scheme is hitting its stride. To date, companies supported under the scheme have achieved over 30 chip design tape-outs and, perhaps more crucially, have raised more than $100 million in VC funding. This surge in capital demonstrates a clear, growing investor confidence in India’s domestic semiconductor design capabilities.One example of standout success is Chennai-based Aheesa Digital Innovations, which just achieved first-pass silicon success with its ‘VIHAAN’ broadband chip. Built on the indigenous VEGA microprocessor, this isn’t just a lab project — it’s a commercial-grade SoC aimed at India’s massive fibre broadband expansion.With chip design contributing up to 50 percent of the overall semiconductor value chain, these successes mark India’s transition from an idea-stage ecosystem to a global supplier of validated silicon.With the Semicon 2.0 programme now active with a massive Rs. 1,27,500 crore outlay, the momentum is only set to accelerate.

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DIMAAG-AI has introduced its ZettaWatt Power Platform that the California startup says is a first-of-its-kind, modular grid-to-800 VDC power conversion and stabilisation solution. The startup is led by Co-Founders Satish Padmanabhan, CEO, and Ian Wright, a former Tesla co-founder, as CTO.

Engineered for hyperscale AI data centres, this system integrates grid conversion, patented immersion-cooled battery technology, and intelligent energy management into a single deployable unit, the company said in a press release, yesterday.

Why is this significant? As AI training loads hit gigawatt scales, they can create large fluctuations that threaten grid stability. Utilities such as Texas’s ERCOT, for example, are beginning to enforce rules requiring Large Computational Loads (LCLs) to ride through specified voltage and frequency disturbances rather than disconnect during grid events.

In parallel, NVIDIA and hyperscalers have announced their transition from 50 VDC to an 800 VDC power architecture, reflecting the industry’s shift toward higher-voltage DC power distribution for next-generation AI servers and megawatt-class racks, DIMAAG notes in its press release.

Its platform holds cyclic load fluctuations to less than 1 percent as seen by the grid, DIMAAG says.

Beyond compliance, the platform bridges the gap between the utility grid and the 800 volt DC power standard for next-gen AI servers. By eliminating traditional double power conversion and bulky AC switchgear, it reduces energy losses, shrinks the physical footprint, and significantly lowers capital costs.

CTO Wright says this redefines hyperscale infrastructure economics, transforming highly dynamic AI data centres into predictable, grid-aware loads.

In this episode, I’m joined by Pardeep Garg, co-founder and CEO of CRID India — Centre for Research and Implementation for Decarbonization.

With a background spanning IISc in Bengaluru, MIT in the US, and multiple climate-tech startups, Pardeep is uniquely positioned at the intersection of technical research and real-world execution.

CRID India identifies itself as a think tank and implementation agency, focusing on “hard-to-abate” sectors in industry, and agriculture, where Pardeep points out that even though there exist well-understood technologies that are more energy efficient and therefore emission reducing, their adoption has not taken off, because of the initial costs involved, lack of awareness and so on.

In this episode, he discusses examples, such as heat pumps, which he says could be India's next big success story, comparable to solar energy, and details his team's work in building the nation's first industrial heat map.

More efficient motors of IE 4 or IE 5 (international energy efficiency) rating are another example, as is drip irrigation.

We also discuss CRID India’s aim of becoming a “systems integrator” for energy transition in the country, where solving for climate change requires aligning policy, finance, and stakeholder interests beyond just engineering. #Conversations

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. #Conversations

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

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. #Conversations

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.

Earlier this week, Professor Ashok Jhunjhunwala, who built the IIT Madras Research Park, among many other things, turned 73. The architect of India's technology-led affordable innovation is already steeped in his next set of moonshots, whose scope and ambition is Bharat-scale.
And earlier this month, Roots and Wings, his authorised biography, was also released, a required-read for anyone interested in the story of technology in India, written by Saloni Malhotra.
Padma Shri Jhunjhunwala, doyen among the architects of India's technology-led affordable innovation, isn't taking a breather. He is already steeped in his next set of moonshots, whose scope and ambition is Bharat-scale.
I got a chance to catch up with him to talk about some of these projects, which are in early stage at the Immersive Technology and Entrepreneurship Lab (ITEL), an industry-consortium-led effort to tackle some of India's most entrenched problems.
Prof. Jhunjhunwala became Chairman of ITEL after stepping back from the research park two years ago.
Catch the full conversation on Tuesday, June 30, 6 a.m. IST. Here's a quick preview. #Shorts #Preview

In my recent conversation with Vinod Shankar, founding partner at Java Capital, we discussed his note on how India could unlock a massive pool of capital and invest a trillion dollars in deep tech startups.
Here's a viewpoint on one of the topics, how corporate R&D and M&A play an important role in the growth of deep tech startups in the advanced economies. And how that's been missing in India, so far. #Shorts #Viewpoint

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. #Conversations

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

Coming up in the next episode of Conversations at India Tech Report, Vinod Shankar, founding managing partner at Java Capital, discusses a note he wrote recently, calling on India's ultra rich to back deep innovation in the country with just 10 percent of their money.
They can afford this, and he does so with his own money, Vinod says. The result of this collective effort, if it happens, could be the transformation of India's science and engineering innovation landscape, he argues.
Catch the full interview right here on Tuesday, June 23 at 6 a.m. IST. Here's a 90 second preview. #Shorts #Preview