UPES Runway Invests ₹25 Lakh in Reagvis Labs to Advance AI‑Powered Digital Trust

Dr. Sachin Chaudhary, Co-founder, Reagvis Labs

UPES Runway, the startup incubator at UPES, announced an investment of ₹25 lakh through equity participation in Reagvis Labs, a deep-tech startup developing indigenous artificial intelligence solutions for digital trust, including deepfake detection, document forgery detection, digital identity verification and digital content authentication. The investment is part of UPES Runway’s initiative to identify and support promising AI-native and AI-driven ventures through capital, mentorship and access to the wider startup and investor ecosystem.

Founded in 2025 by Dr. Sachin Chaudhary and Dr. Praful Hambarde, Reagvis Labs grew out of an academic collaboration between the two researchers during their PhD journey. Working in artificial intelligence and computer vision, the founders witnessed the emerging challenges around the misuse of generative AI to create deepfakes, forged documents, synthetic identities and misleading digital content. Reagvis Labs was created to address challenges such as deepfakes, forged documents and synthetic identities, with capabilities spanning media manipulation detection, identity and content verification, and KYC across image, video and audio, by building AI-led technologies that strengthen trust in the digital ecosystem.

Rahul Nainwal, CEO, Runway Incubator and Dean, School of Business, UPES, said, “The next phase of AI innovation will not only be about what artificial intelligence can create, but also about whether we can trust what it creates. Reagvis Labs is working on a problem that will become increasingly important as synthetic content becomes more sophisticated and widespread. Through The Pitch, our objective is to identify such AI-led ventures with strong technology depth and meaningful real-world applications and give founders the capital and ecosystem support they need to build and scale.”

Dr. Sachin Chaudhary, Co-founder, Reagvis Labs, said, “Reagvis began with our belief that trust must become a fundamental layer of the AI-powered digital world. As generative technologies grow more powerful, the ability to distinguish authentic content from manipulated or synthetic content will become increasingly important for businesses, governments and individuals. The investment and support from UPES Runway will help us strengthen our technology, accelerate development and take our digital-trust solutions to a wider set of real-world applications.”

Through The Pitch 3.0, UPES Runway plans to support 10 innovators this year, with an investment of around ₹25 lakh per startup, and the potential for higher investment in exceptional AI-led ventures, subject to evaluation and approval. Pitch 3.0 recently concluded its Delhi leg, which attracted more than 20 applications and brought seven shortlisted startups before investors, mentors and UPES leaders. The ventures represented a wide range of sectors, including AI image recognition, fintech, edtech, disaster management, fleet technology, quantum computing and deep tech, reflecting the breadth of AI-led innovation emerging from India’s startup ecosystem. Startups - Arthik AI, StoreLink and Memintel were shortlisted in the Delhi round. The next leg of The Pitch is being planned in Bengaluru, as UPES Runway continues to identify and invest in niche AI businesses across different markets.

Through the Runway Incubator, UPES is also advancing its larger vision as an AI-first university, connecting academic and technological capabilities with entrepreneurship, funding and market opportunities. The initiative seeks to enable founders to take AI-led solutions beyond the laboratory or prototype stage and build ventures capable of addressing emerging industry and societal challenges.

Launched in 2021, Runway has grown into a platform for entrepreneurial development at UPES. In about five years, more than 200 startups have been incubated through Runway in association with DST-TIBI, MeitY, Shell E4, MaXcel Accelerator and Global University Systems.

For more information, please visit: runwayincubator.com

About UPES:

Established through the UPES Act, 2003, of the State Legislature of Uttarakhand, UPES is a top-ranked, UGC-recognised, private university. As per the National Institutional Ranking Framework (NIRF) 2025, the Ministry of Education, Government of India, UPES has been ranked 45 among universities, with a rank of 18 in Law, 36 in Management, and a rank of 43 in Engineering. As per the Times Higher Education (THE) World University Rankings 2026, UPES now stands in the 501-600 band globally and 5th in India, improving from 7th in 2025. Notably, in Research Quality, UPES jumped 57 positions in just one year to be ranked 299 globally. In addition to this, the university has been ranked the No.1 private university in academic reputation in India by the QS World University Rankings 2026. It is among the top 2% of universities in the world.

UPES has received 5 stars on Employability (placements) by the globally acclaimed QS Rating. 50+ faculty members from UPES feature among the world’s top 2% researchers as per the Stanford University list.

UPES offers graduate and postgraduate programs through its seven schools: School of Advanced Engineering, School of Computer Science, School of Design, School of Law, School of Business, School of Health Sciences & Technology, and School of Liberal Studies and Humanities. The UPES family includes 20000+ students, 1,500+ faculty and staff members, and a thriving community of 40000+ alumni that work across sectors in marquee brands like EY, KPMG, Bain and Co., McKinsey & Company, Capgemini, Google, Microsoft, Oracle, Nestle, ITC, Adani Power, ONGC, GMR, TCS, Wipro, Infosys, Amazon, Flipkart, Accenture, Deloitte and more.

L&T Technology Services Launches FARM to Fast‑Track Deep‑Tech Startup Commercialization

Program will provide startups with access to LTTS engineering expertise, global customer ecosystems, mentorship and commercialization pathways

L&T Technology Services (BSE: 540115, NSE: LTTS), a global leader in Engineering Intelligence Solutions & ER&D Consulting Services, announced the launch of LTTS FARM, a startup engagement platform designed to accelerate the commercialization journey of deep-tech startups through Engineering Intelligence-led collaboration, co-innovation and market access.

Built on the philosophy of “Collaboration First, Commercialization Next”, LTTS FARM is targeted at startups with TRL 4+ technologies that have validated their technical feasibility and are ready to explore industry adoption. The program is focused on startups aligned with LTTS’ Technology Big Bets – Software Defined Mobility (SDM), Plant Buildout & Modernization, Energy & Industrial Automation, Digital Manufacturing, Next Gen Compute & Data Centers, Software Platforms & EI and MedTech - with the potential to further advance these strategic priorities through new technologies and solutions. By leveraging LTTS’ global presence, domain expertise and customer relationships, LTTS FARM seeks to create a structured launch pad for startups to progress from validated innovation to customer adoption and long-term growth.

The initiative reflects LTTS’ commitment to fostering a thriving innovation ecosystem by bringing together startups, engineering talent and industry stakeholders to address real-world business and technology challenges. The journey will span across evaluation, onboarding, co-innovation, pilot development and commercialization opportunities for eligible startups. Suitable solutions will be considered for broader industry deployments aided by pilot projects, proof-of-concepts, customer demonstrations and diverse commercial engagements.

Amit Chadha, CEO & Managing Director, L&T Technology Services and Member of NASSCOM Executive Council, said, “Many promising technologies struggle because of limited access to customers, industry expertise and commercialization opportunities. Through LTTS FARM, we are creating a platform where startups can collaborate with our experts, gain exposure to global markets and customer requirements, validate real-world applications and accelerate their journey from solution readiness to market adoption. By nurturing innovations that align with and further our technology big bets, LTTS FARM will also expand our Engineering Intelligence ecosystem and help transform breakthrough ideas into industry-ready solutions that deliver measurable business impact”.

About L&T Technology Services Ltd

L&T Technology Services (LTTS) is a global leader in Engineering Intelligence Solutions & ER&D Consulting Services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and sustenance services across products and processes. Purposeful. Agile. Innovation. is how we drive growth across the Mobility, Sustainability and Tech segments. Our customer base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Headquartered in India, we have over 23,840 employees across 21 global design centers, 30 global sales offices, and 103 innovation labs, as of June 30­, 2026.

For additional information about L&T Technology Services log on to https://www.ltts.com/.

GVFL Invests ₹30M in Edgeverse to Advance Edge AI Perception Tech for India’s Two‑Wheeler Mobility

Founders of Edgeverse India Pvt. Ltd

Deep-tech startup to strengthen its AI-powered perception stack for two-wheelers and expand across mobility, industrial automation and defence

GVFL has invested ₹30 million in Edgeverse India Pvt. Ltd., a deep-tech startup developing edge AI-based perception technology for mobility and other real-world applications.

The investment will support Edgeverse's next phase of growth, including the development of India-specific road intelligence, camera and radar technology, and the commercialisation of its AI-powered perception solutions.

Founded in 2023 by Arindam Ghosh, Subrata Debnath and Navaneeth A, Edgeverse is building a hardware-agnostic perception stack that combines edge AI with sensors such as cameras and radar. The technology is designed to help original equipment manufacturers (OEMs) and Tier-I suppliers deploy advanced safety and perception capabilities across vehicles.

Edgeverse's flagship offering, Perceiva ARAS, is an Advanced Rider Assistance System software stack designed for camera- and radar-based applications. The company is also developing an integrated ARAS solution comprising processor hardware, sensors and proprietary perception software.

India being the world's largest two-wheeler market and a leading producer presents a significant opportunity for advanced safety and rider-assistance technologies that can be deployed without substantially increasing the cost, size or power consumption of vehicles. With an estimated 375–400 million two-wheelers already on Indian roads, the market offers considerable scope for companies developing technologies tailored to local traffic and road conditions.

According to SIAM, India recorded 21.7 million domestic two-wheeler sales in FY2025-26, the highest ever for the segment and a 10.7% increase over the previous year. The country also recorded 5.18 million two-wheeler exports during the year, underlining its position as both a major consumption market and a global manufacturing and export hub.

Perceiva ARAS app on motorcycle digital cluster, Edgeverse India Pvt. Ltd

ARAS Collision Zones-1, Edgeverse India Pvt. Ltd

“Edgeverse is building a differentiated technology platform at the intersection of edge AI, perception and mobility safety. Its capabilities across both software and hardware, combined with a focus on solving for Indian road conditions, present an interesting opportunity in the evolving mobility technology ecosystem,” said Mihir Joshi, Managing Director, GVFL.

Edgeverse has previously received ₹18.5 million in seed funding from ARTPARK and was selected as one of the winners of the NASSCOM Mobility Innovation Challenge 2025. With the latest investment, Edgeverse is focused on translating its technology development and early industry engagements into scalable commercial deployments. The company aims to emerge as a trusted perception technology partner for OEMs and are in advance talks with the large global tier-I suppliers building India-focused camera, radar and edge AI solutions for the next generation of intelligent mobility.

“With GVFL's support, we are looking to accelerate product development and move towards wider commercial deployment,” said Arindam Ghosh, Co-Founder & CEO, Edgeverse. “Our vision is to make life-saving edge intelligence accessible and build technology in India that can compete globally.”

Edgeverse began with the objective of making two-wheelers safer through real-time sensing and intelligent alerts. The company has since developed its own processor board and camera module and conducted on-road testing for front- and rear-collision detection.

The startup has demonstrated its technology to potential customers, including Ather, and is engaging with players across the mobility and technology ecosystem such as Cavli and Qualcomm, as it works towards wider adoption of its perception stack. The company has also developed Perceiva DMS, a camera-based Driver Monitoring System for commercial vehicles, along with a radar perception stack.

Over the next six to twelve months, Edgeverse plans to build an Indian road dataset covering 100,000 kilometres, develop a 2MP camera and a 77 GHz radar module, and secure multiple commercial agreements for its ARAS and DMS solutions.

The company will also strengthen its team and explore applications across industrial automation and defence.

IAN Alpha Fund Backs RoshAi’s Retrofit Autonomy Platform to Scale Driverless Industrial Fleets Globally

IAN Group, the country’s largest early-stage investment platform, has led a funding round in RoshAi of ₹22 Crore through IAN Alpha Fund, the second in its series of VC funds. RoshAi is a deep-tech autonomy company building retrofit-based driverless solutions for industrial vehicles. The investment will support the company in strengthening its product, expanding deployments, and scaling its presence across global industrial markets.

RoshAi is working to solve a long-standing challenge in industrial operations, enabling existing heavy vehicles in ports, mining sites, and logistics hubs to operate autonomously without requiring new fleet investments. As industries look to improve safety, reduce operational risks, and increase efficiency, the need for reliable and cost-effective autonomy solutions is becoming more pronounced. By combining AI-powered autonomy systems, sensors, and cloud-based fleet software, RoshAi allows operators to upgrade their current fleets and move towards driverless operations in a practical and scalable way.

The global industrial autonomous vehicles market is expanding rapidly, projected to grow from $47.6 billion in 2024 to $162.8 billion by 2030. RoshAi is focused on key segments within this opportunity, particularly autonomy retrofit kits and fleet management software, which are seeing strong adoption as operators look for faster and more efficient ways to implement automation.

The company has demonstrated early validation through partnerships with Tier 1 OEMs and repeat customer engagements. Its autonomy solutions have been tested over 100,000 km with zero safety incidents, supported by a growing patent portfolio and a technology stack designed for scalability across industrial environments.

Sarika Saxena, Managing Partner, IAN Alpha Fund, said, “RoshAi is solving industrial autonomy through a retrofit-first approach, enabling operators to upgrade existing fleets rather than invest in new infrastructure. With strong early validation, repeat customer engagement, and a scalable autonomy platform, the company is well-positioned to build a globally relevant deep-tech business from India.”

Headquartered in Kochi, RoshAi is led by Dr. Roshy John and Rajaram Moorthy, who bring extensive experience in autonomous mobility, AI, and engineering. The team has built and tested its autonomy platform across industrial environments, demonstrating strong reliability and safety performance.

Roshy John, Founder & CEO, RoshAi, said,“Our focus is to make industrial operations safer and more efficient by enabling existing fleets to operate autonomously. This investment allows us to accelerate product development, scale deployments across global markets, and continue building a robust autonomy platform for industrial use cases. We are glad to have IAN’s support as we move into this next phase.”

RoshAi is building an autonomy platform that includes retrofit hardware, an in-vehicle autonomy system, and a cloud-based fleet management platform. This enables industrial operators to upgrade existing fleets instead of investing in new vehicles or infrastructure, reducing costs and accelerating adoption.

The company is currently working with industrial operators across ports, mining, and logistics environments through pilot projects and early deployments. It plans to expand into markets such as the United States, Australia, and Southeast Asia, where demand for industrial automation and driverless solutions is growing steadily.

With this investment, IAN Alpha Fund continues to back deep-tech startups building practical and scalable solutions for real-world challenges. The fund remains focused on supporting companies that solve problems from India, for India and the world.

About RoshAi

RoshAi (Rosh.AI Private Limited) is a deep-tech autonomy company that enables commercial vehicles operating in confined environments such as seaports, mining sites, airports, and industrial yards to run driverless using a combination of retrofit hardware and AI-powered fleet software. The company offers an autonomy operating system, vehicle retrofit kits, and a cloud-based fleet management platform that together deliver safer operations, higher uptime, and better unit economics for industrial customers. RoshAi follows an “Android-for-autonomy” model, licensing its AI software stack to OEMs and fleet operators globally while deploying its retrofit hardware for existing fleets.

About IAN Alpha Fund

IAN Alpha Fund, a $100 Mn SEBI-registered Category II AIF VC Fund, is the 2nd fund in IAN Group’s series of funds. The Fund explores opportunities in diverse sectors such as healthtech, cleantech, deep tech, agritech, medtech, hardware and electronics, manufacturing, Web 3.0, Metaverse, Industry 4.0, SaaS, and other sectors where innovation is transformational. The Fund invests in innovative startups solving real problems for India and the world, with sustainable business models enabling scale by leveraging technology. With the IAN Alpha Fund, IAN Group continues its two-decade legacy of building a portfolio of technology-focused, innovative companies led by founders who not only understand customer needs but also have the leadership qualities to build large and valuable businesses.

About IAN Group

IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered Venture Capital Funds, the latest being a US$100mn VC Fund, IAN Alpha Fund. IAN enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores, supported by high-quality mentoring by successful entrepreneurs, enabling access to global markets. IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Voltagen Innovator Newtrace Raises $6.3M to Cut Green Hydrogen Costs

Newtrace, a deeptech startup developing high-performance electrode and electrolyzer technology for green hydrogen production, has raised ₹56.93 crore ($6.3 million) in its Pre-Series A round, led by HDFC Bank Limited and MITSUI SUMITOMO INSURANCE Venture Capital, with participation from Peak XV’s Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.

Green hydrogen is emerging as a critical pillar of global decarbonization and is the only scalable clean fuel capable of replacing fossil fuels across sectors such as steel, refining, fertilizers, chemicals, and heavy transport. The global green hydrogen market is projected to reach $38.1 billion by 2029 and expand to $1.4 trillion annually by 2050. Yet today, less than 1 percent of the world’s hydrogen is green, with high costs remaining the biggest barrier.

Green hydrogen currently costs $4 to $10 per kilogram, more than double the cost of conventional grey hydrogen. A significant portion of this cost and inefficiency originates in the electrolyzer stack, particularly the electrode, where most performance losses occur.

At the same time, India’s National Green Hydrogen Mission has set a target of producing 5 million metric tonnes of green hydrogen annually by 2030, supported by ₹19,744 crore in government incentives. However, India currently lacks a domestic supply of high-performance electrolyzer electrodes, creating both a strategic vulnerability and a major opportunity for indigenous innovation.

Founded in 2021 and headquartered in Bengaluru, Newtrace has developed Voltagen, a proprietary advanced electrode technology designed for alkaline water electrolyzers. Voltagen improves energy efficiency, extends system lifetime, and reduces overall hydrogen production costs. Designed as a drop-in replacement for existing electrodes, Voltagen enables electrolyzer manufacturers and hydrogen producers to upgrade performance without redesigning their systems. Newtrace has also commercialized membraneless electrolyzer technology as part of its broader platform.

Newtrace primarily serves electrolyzer OEMs, green hydrogen project developers, and industrial gas companies. Its technology is positioned to support India’s rapidly expanding electrolyzer manufacturing ecosystem, as well as global customers seeking higher efficiency and more reliable supply chains.

Voltagen is built on three core technology pillars: a high-performance catalytic architecture engineered at the micro and nanoscale to improve efficiency, a durable coating system that ensures long operating life under industrial conditions, and a scalable manufacturing process designed for commercial production. These innovations reduce energy consumption per kilogram of hydrogen produced, extend electrode life, and create a domestically available alternative to imported components.

Newtrace was founded by Prasanta Sarkar and Rochan Sinha, who bring deep expertise in electrochemistry, materials science, and industrial scale-up. The company operates from a 30,000 square foot technology center in Bengaluru and is supported by a multidisciplinary team of more than 45 engineers and scientists. It holds multiple patent applications and has received recognition under India’s National Green Hydrogen Mission. The company has also presented its technology to global audiences, including a showcase before Narendra Modi during National Startup Day 2026.

Newtrace Team 

“Green hydrogen’s cost problem is fundamentally a materials and manufacturing challenge,” said Prasanta Sarkar, CEO and Co-Founder of Newtrace. “Voltagen represents a new materials foundation that enables the efficiency and durability required to make green hydrogen cost competitive. This funding allows us to transition from proving the science to scaling manufacturing.”

“We built Newtrace to address the most critical and underinvested component of the electrolyzer stack,” said Rochan Sinha, CTO and Co-Founder of Newtrace. “Our focus now is on translating our technology into reliable, scalable manufacturing that can serve the global hydrogen economy.”

The newly raised capital will support pilot-scale manufacturing, customer validation and supply agreements, and expansion of manufacturing and engineering capabilities. Newtrace expects to begin initial commercial deliveries of Voltagen electrodes within the next 12 months.

About Newtrace:

Newtrace is a climate-tech startup developing and commercializing advanced electrode & stack technology for hydrogen electrolyzers . The vision we swear by is simple - to decarbonize the world through innovation, leaving a cleaner, greener, sustainable future for generations to come. By engineering high-performance electrodes at scale, Newtrace is working to make green hydrogen production economically viable and accelerate the global transition to clean energy. The company combines deep expertise in electrochemistry with scalable manufacturing to address one of the critical cost barriers in the hydrogen economy.

Equirus InnovateX Fund Announces Final Close of Debut Enterprise Tech Fund at ₹166 Crore

Equirus InnovateX Fund (EIF), the early-stage venture arm of Equirus Group, today announced the final close of its maiden B2B tech fund at ₹166 crore. The fund’s first close was announced in February 2024.

EIF backs seed and pre-series A companies building in Deep Tech, SaaS and Fintech - typically teams that are post-product and working toward product-market fit. The fund aims to partner with founders solving hard problems with clear distribution and defensibility, and who are building for long-term sustainability from day one.

The close attracted both domestic and global investors who bring operational experience and market access in addition to capital. True to its ethos - “by entrepreneurs, for entrepreneurs” - EIF counts a number of founders and operators among its backers, including Girish Gaitonde (Founder & Board Member, Xoriant), M.R. Jyothy (Chairperson & MD, Jyothy Labs), Dhimant Bhayani (Founder & CEO, iRevo), Raj P. (Founder & Executive Chairman, Zaggle), Shankar Vailaya (Former Director & Co-Founder, Sharekhan) and Nitin Seth (Vice Chairman, GD Foods).

The Fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal, experienced founders and investors with strong operational backgrounds, and responsible for driving investments and managing the portfolio across the fund’s focus areas.

Sunder Nookala, Partner, Equirus InnovateX Fund, added: “At the seed and pre-series A stage, capital alone is not the differentiator - context and conviction are. Having built and backed companies ourselves, we understand the inflection points founders face around product-market fit, enterprise access and organisational build-out. With Fund I fully closed, our commitment is to work closely with portfolio companies to help them scale responsibly, strengthen fundamentals and build institutions that stand the test of time.”

EIF has deployed over one-third of the corpus, backing seven startups from Fund I, with a target portfolio of up to 15 companies. Active investments include Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall. The remaining capital is expected to be deployed over the next 12-18 months.

Krishna Jha, Partner, Equirus InnovateX Fund, said: "As India's startup ecosystem matures, we are seeing a new generation of audacious founders solving structurally complex problems. As a firm of ex-operators, our focus is on partnering with these founders as they walk the long road from early idea to enduring, category-defining company."

Beyond capital, EIF partners with founders on enterprise access, regulatory navigation, senior hiring, and capital-raising preparedness. The fund emphasises strong governance and long-term value creation rather than short-term value maximisation.

With the maiden fund now fully closed, EIF will focus on scaling its existing portfolio, selectively adding new companies, and deepening relationships with founders and long-term capital partners as it lays the groundwork for its next fund.

Notable angel investments of partners – Ajay Garg, Krishna Jha and Sunder Nookala – include Druva, Kwench, Adpushup, Sirona, Wow Momo, Credgenics, and GoComet.

About Equirus InnovateX Fund

A ₹166Cr SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund backs founders building in SaaS and DeepTech and Fintech, typically at post-product, pre-PMF stage. The Fund has invested in high-impact businesses across sectors, including: Pointo (Energy Efficiency: Battery Lifecycle Management), Datazip (Composable Lakehouse platform), GreenStitch (Fashion & Retail Focused ESG SaaS), CtrlB (Observability SaaS), Consuma (AI for Market/Consumer Insights) and RSPL (Semiconductor) and Neverinstall (Virtual Desktop Infra).

Founders Backing Founders: True to our ethos - “A fund for founders, by founders, and of founders,” Equirus InnovateX Fund is built with a deep understanding of what it takes to build at the earliest stages. We are on a mission to back bold ideas, brilliant minds, and transformative tech - supporting passionate founders who are building the future.

Website: https://www.equiruswealth.com/eif

About Equirus Group

Equirus Group is a leading full-service financial services firm specializing in investment banking, institutional securities, wealth and asset management, HNI broking, NBFC, and insurance solutions. With a “client always first” approach and a proven track record of delivering value creation, Equirus has built impeccable credentials across domains and sectors. Equirus has completed more than 330+ transactions across M&A, PE, IPOs, QIPs, Rights Issues, and Structured Finance, raising USD 15 billion in the process across sectors over the last 18 years, and has created a differentiation for itself through its ability to structure and deliver transactions in line with the client’s requirements.

Website: https://www.equirus.com/

IAN Group Backs e-TRNL Energy with ₹27.4 Cr Seed Round for Next-Gen Battery Cells

(Left to Right) Apoorv Shaligram (Co-founder & CEO) and Dr. Uttam Kumar Sen (Co-founder & CTO), e-TRNL Energy

IAN Group, the country’s single largest early-stage investment platform, has led a ₹27.4 crore seed round in e-TRNL Energy, a cleantech startup pioneering next-generation battery cell technology, through its 2nd VC Fund, IAN Alpha Fund. The round saw participation from Navam Capital, Speciale Invest, and other investors.

Founded in 2021 by Apoorv Shaligram (Co-founder & CEO) and Dr. Uttam Kumar Sen (Co-founder & CTO), e-TRNL Energy is led by founders with deep, hands-on experience across battery materials, cell engineering, and manufacturing. Apoorv brings over a decade of experience spanning lithium-ion research, cell fabrication, EV battery design, and scaling cell technologies for India, along with multiple technical publications in energy storage. Dr. Sen, a PhD in Energy Science & Engineering, is a seasoned battery researcher with over 2,700 academic citations and extensive experience in lithium-ion cell development and materials engineering.

While most battery innovation globally has focused on incremental chemistry improvements within legacy cell designs, e-TRNL Energy is taking a fundamentally different approach by rethinking the core cell architecture and manufacturing process itself. By redesigning the cell architecture, the technology enables safer batteries with significantly lower heat generation, faster charging, longer life, and higher energy density, while also improving manufacturing economics.

The funds raised will be used to complete product development, validate performance and safety, and demonstrate manufacturing capability in India.The company has already set up a 20,000 sq. ft. R&D and early manufacturing facility in Bengaluru to support testing and scale-up. It has been granted two patents for its battery cell design and has filed additional patent applications.

The company plans to establish a 250 MWh pilot manufacturing facility by 2027, with the intention of expanding it to a 2 GWh capacity later. Its first battery product will use LFP (Lithium Iron Phosphate) chemistry, with plans to develop LMFP and Sodium-ion batteries in the future. The company plans to supply its cells to battery pack manufacturers serving electric mobility and energy storage markets.

Apoorv Shaligram, Co-founder & CEO, e-TRNL Energy, said — Over the past three years, we've created a ground-breaking battery cell design and built precise machines and processes needed to realize it. With this funding round, we move towards demonstration, testing, and scaling our innovation for commercialization. Beyond positioning India as a leader in energy storage innovations, these efforts will also strengthen our resilience against global supply chain vulnerabilities in these changing times.

Rajnish Kapur, Managing Partner, IAN Alpha Fund, said, — India’s energy transition will depend not just on adopting batteries, but on owning core cell design and manufacturing capabilities. What stood out with e-TRNL Energy was their first-principles rethink of cell architecture and manufacturing, rather than incremental upgrades to legacy designs. This integrated approach tackles performance, safety, heating, and cost together, which is exactly the kind of deep-tech innovation we back at IAN.

India is rapidly adopting electric mobility and renewable energy, but it still depends heavily on imported battery cells and manufacturing equipment. This creates supply chain risks and increases costs. e-TRNL Energy aims to build an indigenous battery cell design and manufacturing platform to reduce this dependence and strengthen India’s position in advanced energy storage.

The Indian battery cell market is expected to grow to nearly 400 GWh per year by 2035, representing a significant economic opportunity. However, building this capacity using existing global technologies would require large capital investments and imported machinery. The company’s approach focuses on developing both the battery cell and the manufacturing equipment in-house, which can potentially lower capital costs and improve efficiency.

About e-TRNL Energy:

e-TRNL Energy is an Indian start-up company in the energy storage space. Founded by experienced technologists from IIT Bombay and IIT Roorkee, e-TRNL Energy is working on a fundamental battery cell technology that is chemistry agnostic and can adopt all present Li-ion and future Na-ion chemistries. The technology offers battery cells with higher energy density and lower heating compared to its peers, with better pricing economics.

About IAN Alpha Fund:

IAN Alpha Fund, a $100 Mn SEBI-registered Category II AIF VC Fund, is the 2nd fund in IAN Group’s series of funds. The Fund explores opportunities in diverse sectors such as healthtech, cleantech, deep tech, agritech, medtech, hardware and electronics, manufacturing, Web 3.0, Metaverse, Industry 4.0, SaaS, and other sectors where innovation is transformational. The Fund invests in innovative startups solving real problems for India and the world, with sustainable business models enabling scale by leveraging technology. With the IAN Alpha Fund, IAN Group continues its two-decade legacy of building a portfolio of technology-focused, innovative companies led by founders who not only understand customer needs but also have the leadership qualities to build large and valuable businesses.

About IAN Group: 

IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered Venture Capital Funds, the latest being a US$100mn VC Fund, IAN Alpha Fund. IAN enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores, supported by high-quality mentoring by successful entrepreneurs, enabling access to global markets. IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Finvolve & India Accelerator Invest $1M in Satlabs to Build Real-Time Satellite Data Relay Network

Finvolve, a multi-stage venture capital fund focused on backing technology-led, high-impact startups, has announced an investment of INR 9 crore (USD 1 million) in Satlabs Space Systems, a deeptech space startup building next-generation satellite communication infrastructure to enable near real-time geospatial intelligence. The investment from Finvolve & India Accelerator (IA) will help Satlabs with capital, space-tech experts, go-to-market support, technology guidance, ecosystem access, and long-term strategic backing.

The investment will support Satlabs’ efforts to accelerate R&D, advance satellite deployment plans, and scale its data relay network, aimed at significantly reducing latency in Earth observation (EO) data transmission. The company is developing a constellation of low-cost data relay satellites designed to act as “floating ground stations” enabling faster, continuous communication between satellites and end users.

Founded by Sooraj Gopakumar and Saisree Eega, Satlabs is addressing a critical bottleneck in the space ecosystem: delays in downlinking Earth observation data due to limited ground station coverage. Its data relay solution aims to reduce latency from hours to minutes, and eventually near real time, enabling critical applications across defence, agriculture, disaster response, offshore energy, and industrial IoT.

Through this investment, Finvolve aims to play a strategic role in supporting Satlabs’ mission to build cost-efficient, scalable, and globally compatible satellite communication infrastructure, while strengthening India’s position in the rapidly evolving space-tech ecosystem.

Commenting on the investment, Ashish Bhatia, Founder & CEO, IA, said “Space infrastructure is becoming fundamental to how economies operate from national security to climate intelligence and industrial automation. Satlabs is solving a core structural problem in satellite communications by dramatically reducing data latency at a fraction of existing costs. At Finvolve, we are keen to back deeptech companies that combine strong engineering with long-term strategic relevance, and Satlabs fits that vision well.”

Sharing his perspective on the fundraise, Saisree Eega, Co-Founder & CEO of Satlabs, said: “Our goal is to make real-time satellite data accessible, reliable, and scalable across the globe. Finvolve’s support allows us to accelerate development of our relay satellite network and move closer to enabling real-time decision-making from space. This investment is a strong validation of our technology and our long-term vision.”

Satlabs is currently progressing toward the launch of its proof-of-concept relay satellite, with plans for phased constellation deployment over the coming years. The company’s technology roadmap also extends into non-terrestrial industrial IoT connectivity, enabling real-time communication in regions beyond terrestrial network coverage.

Finvolve’s investment portfolio spans high-growth sectors including space-tech, EV and clean mobility, defence-tech, consumer internet, fintech, healthcare, and enterprise solutions. Backed by India Accelerator’s multi-thesis investment approach, Finvolve continues to strengthen India’s startup ecosystem by providing early and growth-stage capital to ventures driving innovation, scalability, and long-term impact.

ABOUT FINVOLVE

Finvolve is a multi-thesis growth and late-stage venture capital fund that supports startups across their growth journey—from pre-seed to pre-IPO. The fund partners with founders to provide growth capital, strategic guidance, and long-term support, helping companies scale sustainably and build enduring businesses. With investments across high-growth sectors, Finvolve focuses on backing teams that combine strong execution with clear market opportunity. The fund is supported by a broader startup ecosystem platform that enables access to networks, mentorship, and infrastructure, strengthening its ability to support founders beyond capital.

ABOUT INDIA ACCELERATOR

India Accelerator (IA) is India’s leading seed-stage startup accelerator and the recipient of the “Best Accelerator of the Country” award from Startup India (2022). Alongside its accelerator programs, IA actively invests in early-stage startups through its joint venture Finvolve, three AIFs, and a GIFT City Fund. IA provides founders with capital, mentorship, and market access, enabling scalable and sustainable growth.

Raana Semiconductors Secures $3M Seed Funding to Build Indigenous Silicon Ingot Systems

Raana Semiconductors Pvt Ltd, a Tamil Nadu-based deep-tech startup, has raised $3 million in a seed funding round led by Equirus Innovatex Fund and Artha Venture Fund, with participation from IvyCap Ventures, PointOne Capital, CIIE Initiatives (IIMA Ventures), and angel investor Garimella Laxminarayana. The funds will accelerate R&D and product development of indigenous silicon ingot growth systems.

Key Highlights of the Funding Round

• Amount Raised: $3 million (Seed round, pure equity)
• Lead Investors: Equirus Innovatex Fund, Artha Venture Fund
• Other Participants: IvyCap Ventures, PointOne Capital, CIIE Initiatives (IIMA Ventures), Garimella Laxminarayana (angel investor)
• Advisory Partner: Prequate Advisory served as the sole strategic advisor

Company Profile

• Name: Raana Semiconductors Pvt Ltd (RSPL)
• Location: Tamil Nadu, India
• Sector: Deep-tech, semiconductor manufacturing equipment
• Specialization: Czochralski (CZ)-based crystal growth systems and single-crystal materials
• Experience: Over a decade in semiconductor technology

Strategic Use of Funds

• Product Development: Building indigenous Czochralski monocrystalline silicon ingot growers capable of producing 10–12 inch diameter silicon ingots.
• Applications: Defence, semiconductor, solar, and medical technologies.
• Roadmap:
  • Short-term: Solar-grade silicon ingots.
  • Long-term: Semiconductor-grade wafers for chip manufacturing.

Why This Matters

• Reducing Import Dependence: India relies heavily on overseas suppliers for silicon ingot growth systems. RSPL aims to localize this critical technology.
• Boost to Semiconductor Ecosystem: Aligns with India’s national semiconductor mission to strengthen domestic manufacturing capacity.
• Cross-Sector Impact: Vital for renewable energy (solar panels), electronics, defence systems, and medical devices.

Quick Comparison: RSPL vs. Global Context

Aspect	RSPL (India)	Typical Global Players
Funding Stage	Seed ($3M)	Series A–C, often $50M+
Focus	Indigenous CZ ingot growers	Advanced wafer fabs, lithography
Market Gap	Local equipment manufacturing	Mature ecosystems in US, Taiwan, Korea
Strategic Value	Reduces import reliance	Expands global dominance

IAN Alpha Fund Backs D-Propulse Aerospace with ₹25 Crore Investment

(Left to Right) Dr. V. Ramanujachari, Co-founder & CTO, D-Propulse Aerospace; and Saurav Jha, Founder & CEO, D-Propulse Aero

IAN Alpha Fund, the 2nd in the series of IAN Group’s VC fund, has invested ₹25 crores in D-Propulse Aerospace Private Limited to support the development of next-generation aerospace propulsion systems. The investment reflects IAN Group’s commitment to support deep-tech startups aligned to India’s strategic imperatives. D-Propulse’s advanced propulsion technologies bring critical innovation to India’s long-term defence strength and industrial resilience.

D-Propulse is building indigenous Rotating Detonation Engine (RDE) based propulsion systems that fundamentally change how high-speed platforms are designed, manufactured, and deployed. Unlike conventional jet engines, RDEs have no moving parts. In fact, they are mechanically simpler, easier to manufacture, and more reliable at scale than even traditional ramjets and scramjets. They also deliver 25% or higher thermal efficiency gains, enabling smaller engines to deliver higher performance.

This combination brings down system costs significantly. By offering performance comparable to today’s high-speed weapons at a fraction of the cost, the company seeks to enable “mass in precision”, the ability to deploy fast, accurate systems at scale.

Founded in July 2025, D-Propulse was created to address a long-standing weakness in India’s defence ecosystem: advanced aero-propulsion. As integrated air and missile defence systems mature globally, traditional radar stealth is losing effectiveness. In the unipolar world of today, there is a need for countries to shift to build self-dependence in critical areas of defence and adoption of high-supersonic and hypersonic platforms is one such need., Existing propulsion technologies make the systems large, expensive, and difficult to scale which is the problem that D-Propulse is targeting to solve for in both defence and industry.

The company is led by an experienced team with strategic insights drawn from India’s defence and research ecosystem. Dr V.K. Saraswat, Member, NITI Aayog and former Chairman of DRDO, serves as Chief Mentor. Founder and CEO Saurav Jha is a defence expert who advises the Indian government and leading Indian companies on strategic technology issues. Co-founder and CTO Dr V. Ramanujachari, a former senior DRDO scientist, led India’s scramjet engine programme and played a key role in the propulsion system used in the Akash missile. Prof. S. Chakravarthy, Head of NCCRD at IIT Madras, is Chief Advisor.

This depth of experience translates directly into execution on the ground. D-Propulse has already achieved a significant technology readiness level in air-breathing rotating detonation combustors and is progressing to flight-capable versions for technology demonstration.

Saurav Jha, Founder & CEO, D-propulse Aerospace, said, “We have entered an era where speed is the new stealth. Defence budgets across the major power centres of the world are pivoting in recognition of this new reality. Our vision is to ensure that India is fully equipped to not merely navigate but potentially dominate this emerging era of high-supersonic and hypersonic systems and platforms. Towards that end, we are progressing indigenous air-breathing rotating detonation engine technology and also building bespoke systems around it. Our plans are not limited to developing RDE-powered effectors but extend to the creation of high-supersonic drones as well.”

Rajnish Kapur, Managing Partner, IAN Alpha Fund, said, “Propulsion is the hardest and most capital-intensive problem in high-speed aerospace systems, and it has historically been the limiting factor for scale. What excites us, at IAN, about D-Propulse is not just the choice of Rotating Detonation technology, but the way it fundamentally changes system economics, simpler engines, higher efficiency, and dramatically lower costs. Affordability is the real unlock if India is to move from a few exquisite platforms to true scale. We see D-Propulse’s team that understands both the physics and the strategic context, and are delighted to back them as a long-term partner in building this for India.”

The seed capital from IAN Alpha Fund will be used to expand the engineering team, strengthen computing and simulation capabilities, and set up limited testing infrastructure. The company is also integrating AI into both operations and technical development to accelerate design and validation cycles. Initial engagements with the Indian military are underway, with export markets to be addressed in close consultation with the government at a later stage.

Globally, rotating detonation combustion is emerging as a general-purpose technology with applications across propulsion, rockets, gas turbines, and power generation, representing a potential $100 billion market by 2035. While India currently has limited activity in this space, global interest is accelerating, creating a timely opportunity for indigenous leadership.

With this investment, IAN Alpha Fund reinforces its role as a conviction-driven investor in deep technology, backing teams that combine scientific depth, execution capability, and a clear understanding of how technology shapes strategic needs to deliver high ROIs.

About D-Propulse Aerospace:

Deeppropulse Aerospace Private Limited is an Indian aerospace startup focused on developing next-generation high-speed propulsion systems for defence and civilian applications. The company is working on proprietary rotating detonation engine (RDE) technology, which has the potential to significantly improve propulsion efficiency and performance in advanced aerospace platforms. Through its innovation-led approach, D-Propulse aims to support the development of faster, more efficient, and mission-ready aerospace solutions for the future.

About IAN Group:

IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered Venture Capital Funds, the latest being a US$100mn VC Fund, IAN Alpha Fund. IAN enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores, supported by high-quality mentoring by successful entrepreneurs, enabling access to global markets. IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Govt Removes 3-Year Rule, Deep-Tech Startups Get Faster Funding

The Indian government has scrapped the mandatory three-year existence requirement for deep-tech startups to qualify under the Department of Scientific and Industrial Research (DSIR) programs. This reform allows early-stage startups to access recognition and funding support—up to ₹1 crore—much sooner, accelerating innovation and commercialization.

Key Highlights of the Reform

• Eligibility Change: Deep-tech startups no longer need to prove three years of existence to qualify for DSIR recognition.
• Funding Access: Startups can now avail financial assistance up to ₹1 crore from DSIR without waiting for the viability period.
• Policy Context: Announced during the 41st/42nd DSIR Foundation Day celebrations by Union Science & Technology Minister Jitendra Singh.
• Objective: To accelerate innovation and help early-stage deep-tech firms scale faster by reducing bureaucratic hurdles.

Why This Matters for Deep-Tech Startups

Before Reform	After Reform
3-year mandatory existence required	No minimum existence period
Recognition under DSIR delayed	Immediate recognition possible
Funding access restricted	Up to ₹1 crore available early
Slower commercialization	Faster innovation-to-market cycle

Implications for the Ecosystem

• Boost to R&D: Startups in AI, quantum computing, biotech, semiconductors, and space tech can now access funds earlier.
• Encourages Risk-Taking: Founders can pursue cutting-edge ideas without worrying about survival for three years before qualifying.
• Global Competitiveness: Aligns India’s innovation ecosystem with global best practices, where early-stage support is critical.
• Investor Confidence: Easier DSIR recognition may attract more venture capital and corporate partnerships.

Potential Challenges

• Quality Control: Removing the viability filter may increase applications from less-prepared startups. DSIR will need stronger evaluation mechanisms.
• Funding Allocation: Ensuring that early-stage funds are used effectively for genuine R&D rather than short-term gains.
• Scalability Risks: Startups may still struggle with infrastructure, talent, and market linkages despite easier access to recognition.

Strategic Takeaway

This reform is a signal of India’s intent to prioritize deep-tech innovation as a driver of economic growth and global competitiveness. For founders, it means less waiting, more building. For policymakers, it’s a bet on early-stage risk-taking as the engine of future breakthroughs.

UST and IIT Madras Incubation Cell Sign MoU to Accelerate Deep Tech Startups in Healthcare and Life Sciences

• Mentorship & Funding Support announced for Winners of Pitch to Win - Pharma 4.0
• Strategic partnership to accelerate deep tech startups in India developing breakthrough solutions in healthcare and life sciences
• Top three winners of the innovation challenge, Pitch to Win: Pharma 4.0 announced
• Winning startups gain mentorship, and total conditional funding support of up to ₹45 lakh

UST, a leading AI and technology transformation solutions company, has signed a Memorandum of Understanding (MoU) with the IIT Madras Incubation Cell (IITMIC), India’s premier deep tech startup hub anchored at IIT-Madras, to foster innovation, entrepreneurship, and research-driven solutions in the healthcare and life sciences sector.

The MoU aims to create a collaborative framework between UST and IITMIC to drive innovation through joint programs, engagement with incubates, and industry partnerships, especially in high‑impact domains. This agreement establishes a scalable, structured yet flexible partnership between UST and IITMIC to identify high‑potential startups, provide them with mentorship and targeted funding, and systematically expand pilots and proof‑of‑concepts, form strategic collaborations, and create go-to-market opportunities.

A first in a series of joint innovation programs, this collaboration of UST and IITMIC, in partnership with Pfizer as Knowledge Partner and AWS as Technology Partner, jointly conducted the Pitch to Win: Pharma 4.0 Edition. The innovation challenge received over ninety startup applications from 32 cities across India, reflecting the growing momentum of India’s healthcare and life sciences startup ecosystem. The top ten finalists received a month’s worth of mentorship support from UST and finally presented before a distinguished jury panel at the final pitch day, held at IITMIC, Chennai.

The top three winners of the Pitch to Win – Pharma 4.0 Edition were Nucleo-Vir Therapeutics (Winner), ChemBioSens (First Runner-Up) and LN Infosphere Tech Transformers (Second Runner-Up). They received cash awards of ₹1,25,000, ₹75,000 and ₹50,000 respectively. In addition, UST will offer a total conditional funding of up to ₹45 lakh to the three startups, along with GTM and other strategic support.

Manu Gopinath, President, UST, said, “Our partnership with IIT Madras Incubation Cell is a strategic leap in how we harness deep tech innovation across industries. With IITMIC’s proven incubation ecosystem and access to cutting-edge research, we are not just backing startups; we are nurturing bold founders, accelerating research-driven ideas, and building a strong pipeline of solutions that can transform businesses, communities, and society at large. By combining IITMIC’s cross-domain innovation capabilities with UST’s global reach, industry partnerships, and mentorship, we are creating a scalable platform to bring impactful, next-generation technologies from the lab to the market.”

Dr. Tamaswati Ghosh, Chief Executive Officer, IITMIC, added, “This collaboration with UST reflects our shared vision to advance India’s deep-tech innovation landscape, particularly in healthcare and life sciences. Through initiatives like Pitch to Win: Pharma 4.0, we’re not only nurturing high-potential startups but also building bridges between academia, industry, and investors to scale impactful solutions that can improve lives globally.”

This partnership underscores UST’s dedication to advancing research-driven innovation and entrepreneurship, leveraging its global expertise to accelerate next-generation solutions within India’s Life Sciences 4.0 ecosystem.

Hyderabad’s EON Space Labs’ MIRA Set for December Orbit After Historic Space-Grade Certification

• The electro optical payload is scheduled for a heritage space flight aboard an upcoming satellite orbit mission in December 2025.
• The milestone is a major step toward India’s first indigenously built compact space grade telescope weighing a mere 502 grams.

EON Space Labs, a Hyderabad-based deep-tech startup, specialising in multi-domain earth observation, confirmed that its flagship electro optical space telescope ‘MIRA’, successfully completed thermo-vacuum (TVAC) testing. The milestone qualifies MIRA as India’s first indigenously developed space telescope, ready to tackle the harsh environment of space during low earth orbit (LEO) missions.

MIRA has been developed as an electro optical payload onboard satellites, utilised for dual-use strategic defence and commercial space missions.

MIRA SPACE Telescope During TVAC Testing.

Sanjay Kumar, Co-founder, EON Space Labs, said, This is a truly defining moment for us. Space grade certification proves that ultra complex, high-precision imaging platforms can now be built and certified entirely from within India. 

MIRA Front View

The miniaturised space telescope meets stringent NASA-standards for space-readiness, tested for temperature stability, vacuum tolerance, and in-orbit operational reliability. Testing was conducted at an NABL-accredited facility in Ahmedabad at vacuum levels below 10⁻⁵ torr and extreme temperature swings between −20 °C and +60 °C. MIRA performed beyond expectations with negligible outgassing and zero optical or structural drift. It was also integrated with the onboard high performance computer of its satellite partners, successfully demonstrating autonomous imaging and telemetry under simulated orbital conditions. MIRA is scheduled for a heritage space flight onboard an upcoming satellite orbit mission, later in December 2025.

Punit Badeka, Cofounder, EON Space Labs, said, MIRA enables the highest-quality imagery at a fraction of traditional size and weight limitations. We’re not only focused on India’s self-reliance in earth observation but aim to tap the global market with MIRA.

Designed to deliver the highest-resolution imagery while weighing barely 502 gms, MIRA is at least 3 to 4 times lighter than conventional space telescopes. Payload delivery costs which can be as high as USD 10K to 20K per kilogram can be slashed without the need for compromising on image resolution.

Our vertically integrated optical and AI-enabled stack delivers an operational payload perfectly aligned for the extreme environment of space, added Manoj Kumar Gaddam, Co-founder, EON Space Labs.

While MIRA heads toward orbit, EON Space Labs is also focusing on the parallel development of its LUMIRA EO/IR aerial imaging and reconnaissance platforms, designed as a dual-use payload for drones, UAVs, eVTOL and fixed wing aircraft. The approach reinforces the startup's commitment to vertically integrated optics designed for multi-domain dual-use applications across space, aerial and ground-based platforms.

About EON Space Labs

Left to Right — Cofounders at EON Space Labs, Punit Badeka, Manoj Kumar Gaddam, Sanjay Kumar 

EON Space Labs is a trailblazer in the imaging industry, delivering cutting-edge solutions to diverse industries globally. With unparalleled expertise in designing and developing imaging systems from the ground up, we provide versatile solutions for a wide range of applications, spanning sectors like aerospace, defense, and commercial industries.

In a world increasingly reliant on visual data, EON Space Labs stands out by creating advanced imaging systems that serve as critical enablers of actionable insights. Our state-of-the-art EO-IR technologies position us as a key innovator in high-value markets such as satellite technology and drones/UAVs, while our vision extends to uncovering untapped opportunities across emerging domains. At the core of our innovation lies a commitment to miniaturizing optical payloads, revolutionizing data affordability and accessibility. By democratizing high-quality imaging solutions, we enable businesses and organizations to harness the power of visual data effectively, fostering better decision-making and operational efficiency. This approach solidifies EON Space Labs' reputation as a leader in the imaging industry, driving transformation through visionary technology and unmatched reliability. 

DeepTech Startup Aeronero Secures $1.5M to Scale Breakthrough Air-to-Water Technology

Aeronero, a Chennai-based deep-tech startup focused on solving global water scarcity, has raised $1.5 million in a landmark funding round led by Callapina Capital and Rezwan Razack of Prestige Group. Here's a breakdown of what makes this round—and the company—so compelling:

Key Highlights of the Funding Round

• Lead Investors: Callapina Capital and Rezwan Razack (MD, Prestige Properties) 
• Co-Investors: SAN ANGELS, Jamwant Ventures, and prominent HNIs including:
• Kiran Deshpande (Former CEO, Tech Mahindra)
• S. Ramadorai (Former CEO & Vice Chairman, TCS)
• Purpose: To scale Aeronero’s patented Air Water Generators (AWGs)—devices that extract clean, alkaline drinking water directly from the atmosphere.

Why It Matters

• 13 Global Patents: Many already commercialized, backing a robust tech platform.
• 400% YoY Growth: Driven by demand across homes, offices, and military outposts.
• ₹30 Crore Order Book: With ambitions to hit a ₹100 crore topline.
• Production Scale-Up: Targeting 2,000 units/month from in-house manufacturing

Impact & Vision

• Mission: “Water for All, Always”—a decentralized, sustainable approach to water access.
• Technology: AWGs use a 5-step filtration system including Biovitae™ and mineralization to produce alkaline water (pH 7–8.5) free of bacteria, viruses, and chemicals.
• Smart Features: IoT-enabled systems offer real-time monitoring, alerts, and performance tracking.

Investor Endorsements

Vinod Jose, Callapina Capital: “The most disruptive innovation the water sector has seen in a century.”

Rezwan Razack, Prestige Group: “Aeronero’s tech is key to sustainable infrastructure.”

Kiran Deshpande: “We are proud users of Aeronero’s ‘Bubble’ system.”

S. Ramadorai: “Drinkable water from thin air—visionary and scientific in equal measure.”

Source - The Tribune | Business Standard 

IIT Madras to Launch ₹200 Crore VC Fund to Back Deeptech Startups

IIT Madras has announced the launch of a ₹200 crore (~$24 million) venture capital fund to support early-stage deeptech startups, particularly those incubated within its innovation ecosystem.

The fund, titled the IITM Alumni Fund, was formally introduced during the Sangam 2025 alumni summit in Bengaluru.

The fund aligns with the institute’s Startup Shatam mission to incubate 100 deeptech startups annually. 

• Fund Focus: Pre-Series A and Series A investments in deeptech ventures
• Backers: Primarily funded by IITM alumni and high-net-worth individuals
• Structure: Operates as a separate legal entity with standard VC governance
• Vision: Supports the institute’s ‘Startup Shatam’ mission to incubate 100 deeptech startups annually
• Track Record: IITM has already incubated 500+ startups with a combined valuation of over ₹50,000 crore and created 11,000+ jobs
• Notable Successes: Includes unicorns like Ather Energy and Uniphore

Prof. Ashwin Mahalingam, Dean (Alumni and Corporate Relations), IIT Madras, said —

“This fund will help accelerate our vision of ‘Startup Shatam’... A focused Series A-level VC fund, where the investors are our own alumni and well-wishers, is exactly what is going to get us there.”

Maieutic Semiconductor Raises $4.15Mn to Transform Analog Semiconductor Design with Generative AI

Bengaluru-based deep tech startup Maieutic Semiconductor has raised USD 4.15 Million in Seed funding, co-led by Endiya Partners and Exfinity Venture Partners. This funding round marks a significant milestone in Maieutic’s mission to reimagine chip design by introducing generative AI to design and development workflows.

Maieutic is tackling one of the most complex and underserved challenges in semiconductor design. Their GenAI-first solution will significantly accelerate early-stage chip design, domain expert review process, and enable intelligent analysis of design trade-offs, all of which are typically time-consuming and resource-intensive. With this new round of funding, Maieutic plans to expand its engineering team and significantly improve time to market. The company is on an aggressive hiring trajectory to build out its platform and take its vision to market.

Founded by serial entrepreneurs and industry veterans, Maieutic’s core team includes Gireesh Rajendran (CEO), Ashish Lachhwani (CBO), Rakesh Kumar (CPO), and Krishna Sankar (CTO), each a domain expert with over two decades of experience in semiconductor design, AI systems, and commercial product delivery. Collectively, the team holds over 70 patents and has shipped products that have sold over a billion units globally.

“Semiconductor design has remained largely untouched by modern productivity enhancements,” said Gireesh Rajendran, CEO and Co-founder of Maieutic Semiconductor. “At Maieutic, we’re combining decades of deep analog and semiconductor experience with cutting-edge AI techniques to create a copilot that reduces the design cycle from weeks to days, spots inconsistencies without expert intervention, and brings intelligence to every trade-off. We’re thrilled to have raised this round of funding and are incredibly grateful to have visionary partners like Endiya Partners and Exfinity Venture Partners on board, who not only believe in our mission but are actively supporting us as we build for the future of chip design.” Gireesh was previously the CEO and co-founder of Steradian Semiconductors, a radar startup that saw a successful acquisition.

Maieutic is well poised to address a massive market opportunity beginning with analog IC design, which is critical to next-gen communications, automotive, and industrial electronics.

Sateesh Andra, Managing Partner at Endiya Partners, said, “Maieutic is solving a real problem in the semiconductor design space, an area that has long resisted automation despite its growing complexity. Analog workflows in particular have remained largely manual and dependent on domain expertise and time-intensive iteration. Maieutic’s AI-first approach has the potential to change that. The founding team has both deep technical expertise and years of experience in taking products to market. We believe their vision can lead to a foundational shift in how analog chips are designed and optimized, making the process faster, more intelligent, and globally competitive. We’re excited to partner with Maieutic as they build a transformative platform that positions India at the forefront of semiconductor innovation.” Endiya was an early investor in Steradian.

Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners, added, “The Maieutic team brings an exceptional blend of deep technical expertise, global semiconductor experience, and a clear vision for the future of analog design. Having spent more than a decade in Analog/Mixed-Signal design early in my career, I truly appreciate the complexity and magnitude of the problem. What truly excites me is their bold approach to applying GenAI to an area that has seen very little disruption over the decades. As the demand for intelligent, high-performance chips continues to grow globally, Maieutic is uniquely positioned to lead this paradigm shift. We are proud to support them on this journey and confident that they will build a category-defining company from India.” Exfinity is an active investor in deep-tech and semiconductor startups, with successful exits such as Kinara.ai, an edge AI semiconductor company.

With the global semiconductor market projected to cross $1 trillion by 2030, and analog chips forming the backbone of every modern electronic device, Maieutic’s innovation couldn’t come at a more relevant time. As India pushes ahead with its semiconductor ambitions, Maieutic Semiconductor is poised to be a key force in positioning the country as a serious player in analog innovation.

Deeptech Startup Sthyr Energy Secures $1 Mn to Advance Zinc-Air Battery Innovation

IIT Madras-incubated startup Sthyr Energy has raised $1 million in seed funding, led by Speciale Invest and supported by Antares Ventures, reported Economic Times. The funding will accelerate the development of their novel mechanically rechargeable Zinc-Air battery system, designed for long-duration, grid-scale energy storage.

What Makes Sthyr Stand Out

• Mechanically rechargeable Zinc-Air battery architecture
• 100+ hours of storage ideal for seasonal and remote grid use
• Uses non-flammable, water-based electrolytes for safety
• No rare earth materials; built from locally available resources
• Decoupled energy and power components for modular scaling
• Targets fossil-free peaker plant replacement and microgrids

Comparison with Other Energy Storage Solutions

Lithium-Ion Batteries

• 4–6 hour duration
• Safety concerns due to thermal runaway
• Dependence on imported metals like cobalt and lithium
• Suited for EVs and short-duration balancing

Flow Batteries

• 6–12 hours duration, extendable
• Generally safe but bulky systems
• Uses vanadium or other redox materials
• Costly upfront, best for frequent cycling

Green Hydrogen

• Storage duration from days to weeks
• Challenges with storage and flammability
• Involves electrolyzers and fuel cells
• Still expensive with energy conversion inefficiencies

Sthyr Energy was founded by Gunjan Kapadia, Akhil Kongara, and Muhammed Hamdan, all researchers from IIT Madras. Gunjan serves as the CEO, Akhil as the CTO, and Hamdan as the COO. Their collaboration stems from over five years of foundational research at IIT-M, where they set out to rethink battery architecture for long-duration energy storage.

The Deeptech founders are quite the powerhouse trio—each bringing technical depth and a mission-driven mindset to the table.

Sthyr’s Zinc-Air solution could prove transformative for India’s renewable grid, microgrids in remote areas, and as a cost-effective alternative to fossil-based peaker plants—marking a significant step toward energy independence and resilience.

Deeptech Cold Chain Startup Tan90 Raises $2.4 Mn in Series A Funding Led by NABVENTURE

In a significant boost to India’s sustainable logistics ecosystem, Tan90 Thermal Solutions, a deeptech startup revolutionizing cold chain technology, has secured ₹20 crore (~$2.4 million) in a Series A funding round led by NABVENTURES, the venture capital arm of NABARD. The round also saw participation from Blue Ashva Capital, Capital-A, and 3i Partners.

Founded in 2019 by a team of IIT alumni, Tan90 develops proprietary Phase Change Materials (PCMs) that enable passive cooling across a wide temperature spectrum, from –50°C to +80°C. These innovative thermal packs are designed to reduce dependency on conventional refrigeration systems, offering scalable, energy-efficient, and eco-friendly solutions for cold chain logistics across industries.

• Expand its Cooling-as-a-Service (CaaS) model from eight cities to 18, targeting underserved Tier-II regions
• Launch new product lines catering to cold storage, HVAC systems, and even thermal management of data centers
• Strengthen international footprint in Southeast Asia, the Middle East, and Africa

According to the company, their PCM-based solutions offer twice the cooling duration and longer cycle life compared to traditional gel packs—crucial for sectors like pharmaceuticals, fresh produce, food delivery, and vaccines. Remarkably, Tan90 boasts zero customer churn on its existing CaaS platform and has clocked a 70% CAGR in the past three years while nearing operational breakeven.

Backed by DBT-BIRAC (Biotechnology Industry Research Assistance Council), Tan90 is part of India’s growing ecosystem of climate-conscious, deeptech innovators. The firm’s roadmap aligns with broader national priorities, including cold chain modernization, food security, and climate resilience.

A press quote from NABVENTURES said, “Tan90 is precisely the kind of tech-first, impact-driven enterprise we champion,” said a spokesperson from NABVENTURES. “Its scalable approach to sustainable cold storage addresses real-world bottlenecks in agricultural and health supply chains.”

As India races to decarbonize and digitize its logistics infrastructure, Tan90’s success signals rising investor confidence in technologies that blend deep science with market-ready applications.

Harnessing Deep-Tech: India's Path to Global Tech Dominance

Authored by Pramod Gummaraj, Founder and CEO of Aprecomm

India's tech ecosystem is witnessing a remarkable resurgence, with the first quarter of 2025 witnessing tech startups securing $2.5 billion in funding which is a 13.64% increase from the previous quarter and an 8.7% rise year-over-year. This achievement positions India as the third most-funded country globally, trailing only the US and the UK.

This influx of capital signifies a deliberate shift from the traditional focus on consumer-centric ventures to an emphasis on deep-tech domains. Investors are now channelling resources into startups specializing in artificial intelligence (AI), robotics, blockchain, and other advanced technologies. This strategic reallocation is not merely a trend but a response to the escalating global demand for sophisticated technological solutions that address complex challenges across various industries.​

Global Momentum for India's Deep-Tech Startups

Indian deep-tech startups are gaining unprecedented global traction. The number of these startups securing Series A funding and beyond has surged, indicating a maturing ecosystem. This trend is further bolstered by increased collaboration between academia, government, and industry, fostering an environment conducive to innovation and the commercialization of research.​

The current trajectory aligns with India's ambitions to lead in AI and advanced technologies. The government's focus on fostering innovation, as evidenced by policies promoting deep-tech growth, is creating an ecosystem where startups can thrive. This strategic emphasis is essential for India to not only keep pace with global advancements but to set new benchmarks in technological innovation.

The government's proactive initiatives have played a pivotal role in this evolution. For instance, the Atal Innovation Mission (AIM) has been extended until March 2028, with a budget allocation of ₹2,750 crore. AIM 2.0 aims to underscore global competitiveness, introduce new initiatives, emphasize public-private partnerships, address the rural-urban imbalance, and focus on the growth and expansion of India's entrepreneurship ecosystem. This strategic emphasis enhances India's positioning as a global tech powerhouse.

Implications for Emerging Technologies

The strategic infusion of capital into deep-tech sectors has profound implications for emerging technologies. As industries grapple with increasing complexities and data proliferation, the demand for intelligent systems capable of autonomous management and optimization has intensified. Investments in AI and related technologies are crucial to developing solutions that can enhance operational efficiency, security, and scalability.​

Furthermore, the global recognition of India's deep-tech capabilities opens avenues for international collaborations and market expansion. Startups demonstrating robust, scalable solutions are well-positioned to attract further investment and establish a global footprint, thereby contributing to India's emergence as a global technology leader.

Among the various deep-tech domains, network intelligence has emerged as a pivotal area, especially as network operators confront escalating complexities and demands. The integration of advanced technologies into network management enables networks to self-optimize, self-heal, and adapt to dynamic conditions, thereby enhancing performance, security, and reliability.​

The current funding surge into deep-tech startups focusing on network intelligence is timely. As networks become more complex, the necessity for intelligent systems that can autonomously manage and optimize network performance grows. Investments in this sector are not merely about enhancing existing infrastructures but are aimed at pioneering solutions capable of addressing future challenges in network management.​

Major Telecommunications Companies Investing in Digital Infrastructure

Recognizing the transformative potential of advanced technologies, major telecommunications companies are proactively investing in digital infrastructure to support the AI era. These investments are strategically directed towards enhancing network capabilities, improving customer experiences, and unlocking new revenue streams. The focus is on integrating intelligent systems that can autonomously manage and optimize network performance, ensuring resilience and efficiency in the face of growing data demands.

While the momentum is promising, deep-tech startups face unique challenges, including longer gestation periods for research and development, higher capital requirements, and the need for specialized talent. However, the current funding surge provides a ray of hope, offering the necessary resources to navigate these challenges and bring groundbreaking technologies to market.​