Subbu Rama

From our PearX S25 cohort, meet Pravāh, the AI-native operating system for the electric grid When Mohak Mangal, Dhruv Suri, and Aman Gupta looked at the strain on the U.S. electric grid, they saw a system pushed to its limits. Exploding demand and unpredictable supply have made blackouts increasingly common. This costs the economy more than $150B a year, a number that could 10x in the next five years. Mohak Mangal and team founded Pravāh to help fix it. Their platform helps utilities and grid operators make real-time decisions on load, generation, and congestion, reducing blackout risks, optimizing power procurement, and bringing much-needed stability to the backbone of modern life. We’re proud to support the Pravāh team as they take on one of the toughest and most important infrastructure challenges of our time.

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Two major trends, we at eka.care believe, are set to transform the landscape of healthcare digitisation in India: 1. Health AI: The rise of indigenous AI models tailored specifically for healthcare, driving purpose-driven innovations in the sector. 2. ABDM (Ayushman Bharat Digital Mission): A groundbreaking initiative enabling every Indian to digitally own and share their health records seamlessly, meticulously driven by National Health Authority (NHA) team. Our efforts are deeply aligned with these goals. A special thanks to the TechGraph team & Ajitesh Kaicker for spotlighting some of these ideas that define our mission at eka.care https://lnkd.in/guaPY7hx Deepak Tuli Amit Bharti Bhaskar Chaudhary Sankalp Gulati Neha Jagadeesh Vishal Kumar Tuniki Raghunandan gupta Pranjal Pandit Mohit Rajpal Sumit Kumar Rushabh Vasani Dr. Neelesh Kapoor Nikhil Kasukurthi Vasanth Murukuri Dr.Sanjana Sn Nura Almas Lourdes Dinesh Vishwesh Jainkuniya Trilok Yadav Saroj Kumar Sahu Arya Vashisht Shyamjith Palakkandy Nilaksh Kushwah Niharika Chaturvedi Karthick P Nadeemahmed Totad Divyesh Jivani Sam Dennis

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At Atomic Capital, we are committed to backing exceptional founders building for the next wave of India’s consumption story. The country’s consumer market is expected to more than double by 2030, reaching over $4 trillion, with fashion emerging as one of the fastest-growing categories. By 2030, India’s apparel market is projected to cross $125 billion, driven by a rising middle class, increased digital adoption, and evolving consumer preferences. Fashion, particularly women's apparel, will play a significant role in this growth. Despite being a highly competitive category, we believe there's still white space for brands that combine customer insight, product excellence, and operational efficiency. We are incredibly excited to announce our investment in ANNY. From our very first interaction with the founding team, we felt there was strong alignment in vision, strategy, and focus on building a lean, sustainable, and scalable business. Here's why we chose to partner with them: 1. Aligned Operating Philosophy: The founding team - Japjot, Aveen, and Rahul, shares our belief in building a capital-efficient brand. They focus on solving scale challenges with systems, data, and discipline—not by burning cash. From day one, they valued our partnership beyond just the capital contribution. 2. Distinctive Product Supply: Anny excels at the intersection of freshness × fabric × fit. Thanks to rigorous efforts in curation and sizing, Anny has achieved some of the lowest return and cancellation rates we’ve seen in the category. 3. Lean Inventory Model: The team has cracked a unique approach to managing inventory. Their system allows for timely sourcing of new designs that often become hero products—ensuring working capital efficiency while minimizing stockouts and lost sales. 4. High Consumer Love: With 100% of revenue coming through their own website and a substantial share from repeat customers, the brand has cultivated a deep and loyal customer base. 5. Efficient Acquisition Strategy: Anny has built a robust content engine, helping consumers visualize style and fit on real people. This “real-world relatability” has significantly improved conversion and reduced acquisition costs. 6. A Complementary Team: The founding team brings the perfect blend of design and curation, finance and analytics, and technology—a necessary trifecta to scale a modern, digitally native apparel brand. The founder-market fit here is strong and clear. 7. Strong Revenue Momentum: The team has scaled 7x in 12 months. Consistent growth, increasing repeats, and strong unit economics are a testament to the brand's product-market fit and sharp execution. In our experience, operational discipline, new launch velocity, a data-driven approach, and sharp storytelling can collectively build an enduring brand in Fashion. We believe the Anny team is uniquely positioned to do just that. Atomic Capital Nikhil Patil Manish Jain #ConsumerBrands #Fashion #D2C #IndiaConsumption #AtomicCapital

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A founder who has spent 32 Years building IP-Owned Tech in India's Defense Sector. Ashok Atluri, Founder of Zen Technologies Limited shares a growth story bootstrapped from Hyderabad: -Revenue: ₹60 Cr (FY21) → ₹930 Cr(FY24) -Market cap: 40 Cr (2012-13) → 13000 Cr today -Growth: 400X in 12 years Takeaways from our conversation: 1. India historically imported 65–70% of its defense equipment. Today, defense exports have grown more than 30× over the past decade, with the private sector contributing around 60% of exports. Domestic defense production has increased to ₹1.27 lakh crore, a 174% rise since FY 2014–15. 2. For over two decades, Zen built advanced simulators but struggled to sell them in India because single-vendor bids weren’t accepted. The IDDM policy in 2015 gave preference to IP-owning Indian companies and allocated 75% of the capital acquisition budget to local sourcing. And decades of R&D became a real market worth ₹200 billion. 3. Defense tech startups in India have raised $184 million in VC funding since 2020. Zen’s journey shows that IP-owned Tech built with self-funded R&D can build the most defensible advantage, similar to how Apple captures value through IP rather than manufacturing. 4. Zen’s anti-drone systems were proven in field operations, leading to export inquiries from over 20 countries. This mirrors the broader trend of India’s defense exports growing from ₹1,940 crore (FY14) to ₹21,083 crore (FY24). Field-tested solutions build trust far faster than lab demos or pilot projects. 5. Government fundings are rewarding innovation over manufacturing. Programs like iDEX provide up to ₹10 crore for proven concepts, while DRDO offers ₹50 crore per system under the Technology Development Fund. This shift allows companies to reinvest profits into next-generation R&D. 6. Ashok believes that not all technologies should be patented. Highly secretive or complex innovations can be reverse-engineered if patented. Instead, patent what is obvious to outsiders to protect your competitive edge. 7. Build with a focused approach on Pareto technologies with maximum impact. Instead of chasing every opportunity, Zen concentrated on the 20% of technologies delivering 80% of results, anti-drone systems and simulators. Prioritizing high-leverage areas compounds impact effectively. 8. Time market entry around overlooked gaps: In 2018, drones were a hot topic, but there was little attention on anti-drone systems. Zen entered this gap and was ready when the need became urgent, from regional conflicts to domestic security. Opportunities often lie where others are silent. 9. Create policies around your innovation: Self-funded R&D firms face unique risks that conventional procurement rules often overlook. Zen advocated for new categories rather than adapting breakthrough technologies to unsuitable frameworks, ensuring their innovations could be evaluated on merit. Full Episode https://lnkd.in/gnAFEj3f

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In venture capital, ultimately “only a handful of companies per year actually matter”. Just 7 firms led the Series A of ~60% of startups in India that are worth $1B+ today. The list of firms leading investments in these cos is fairly predictable - PANZEL + Tiger Global. Full post on India's unicorn hunters in the comments

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$100B DOMESTIC SOFTWARE MARKET – CXO ROUNDTABLE This Tuesday in a rain-soaked Mumbai, we hosted the 2nd roundtable on the Indian Domestic Market Opportunity with India’s top Chief AI Officers, Chief Digital Officers, and founders. Planned as 90 minutes, it stretched into 3 hours of sharp debate on: ► Where the biggest domestic software opportunities lie ► How Indian enterprises can leapfrog to AI-native ► What founders need to do differently to win in India 5 BIG TAKEAWAYS FOR FOUNDERS 1) Attack big, complex India-native problems as your wedge 2) Go narrow + deep—drive growth or compliance outcomes, not just cost savings 3) Voice will be a game-changer for AI adoption in India 4) Build within the enterprise ecosystem, not siloed point solutions 5) Getting a POC is easy; proving value at POC is the real unlock Special thanks to SaaSBoomi Avinash Raghava Neha Arya Kuldeep Dhankar Ashish Tandon Pratik Pal for making this happen, and to Peak XV Partners Akshay Agarwal for hosting us. Grateful to everyone who joined despite the rains. Anup Purohit Kunal Dhingra Rucha Nanavati Rajesh Kannan Nikhil Prasad Ojha Sharad Sanghi Rajiv Srivatsa Nitin Sharma Jasnoor Gill #IndiaSaaS #DomesticMarket #AIadoption #EnterpriseAI #SaaSBoomi #IndiaSoftware #AIinIndia #StartupEcosystem #EnterpriseSoftware #MarketMapMondays

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I recently appeared on #CryptoCorner on CNBC-TV18 where I spoke with Manisha Gupta about some key developments shaping the crypto landscape in India and across the globe. Some of the points we covered: 1. CoinDCX's Growth: We recently crossed 2 Crore+ users. Interestingly, the average age of our users has shifted from 25 to 31, showing maturing participation. But crypto is not yet a chai break or dinner table conversation in India. We are still at a very early stage of growth. 2. Portfolio Diversification: A comparison between equity, gold, and crypto, and the unique role each plays in building a balanced investment portfolio. 3. Golden Opportunity in Crypto: Why the current market environment makes this a very good opportunity to enter or continue investing in crypto 4. India’s Position: While India has been slightly behind in crypto adoption, it has the potential to leapfrog with the right policies and ecosystem support. Do watch and share your feedback with us! w/Sumit Gupta, Neeraj Khandelwal, Rohit Jain.

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🚨 RBI’s New Co-Lending Directions, 2025 – Effective Jan 1, 2026 The Reserve Bank of India (RBI) has issued new Co-Lending Arrangements Directions, 2025, which will come into effect on January 1, 2026. These guidelines will likely broaden the scope of co-lending 1️⃣ Mandatory Skin in the Game – Each Regulated Entity (RE) must retain minimum 10% of every loan (no shadow partnerships) 2️⃣ Blended Interest Rate – Final rate to borrower = weighted average of each lender’s rate. All fees to be factored into APR & Key Facts Statement 3️⃣ 15-Day Transfer Rule – Partner RE must book its share within 15 days of disbursement. Else, loan stays with originator 4️⃣ Default Loss Guarantee Cap – Max 5% of outstanding loans allowed 5️⃣ Borrower-Level Asset Classification – If one lender marks SMA/NPA, the other must follow 6️⃣ Escrow Account Mandate – All transactions to flow through an escrow, ensuring clear fund appropriation 7️⃣ Full Disclosure – Public list of co-lending partners + detailed reporting in financials Bottom line: Clearer rules, stronger consumer protection, tighter operational discipline >> co-lending just got a lot more transparent. #RBI #CoLending #NBFC #Fintech #Credit https://lnkd.in/gKxrz_hC

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After a fabulous two years at Kae Capital, I knew it was time to build the fund I wished had existed when I was a founder. Today, I’m launching Boundless Ventures, an early-stage, AI-native venture firm backing India-rooted founders who are building globally defensible companies at the intersection of science, systems, and culture. Boundless starts with a simple belief: the next decade’s breakout companies won’t “add AI” as a feature. They’ll be AI-native from day one, rethinking consumer products, enterprise workflows, and infrastructure with new primitives. We’ll write the first cheque, and then double down. We’ve proud to have already partnered with six category-shaping founding teams: • Superhealth: rethinking healthcare from the ground up • Armatrix: autonomous snake-arm robots for engine inspection • PierSight: real-time ocean intelligence • KNOT: AI-native fashion discovery and logistics • Two stealth companies in infra and consumer AI Our thesis spans four arenas: • The AI-native stack: infra, agents, and memory protocols • Make-in-India hardware: autonomous systems, design-led manufacturing • New-India consumer: culture × code • Science × story: where deep tech meets narrative leverage India is not catching up. It’s compounding. Boundless exists to back originals, with speed, belief and storytelling firepower. Link to our website & thesis below.

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