Utkarsh Bahadur

Agilitas x Virat Kohli partnership is one of the masterstroke deals I have seen in recent times. Virat invests 40 CR in Agilitas for a 1.94% stake, putting Agilitas’s valuation around 2000 CR. 📈 In turn, Agilitas acquires one8world, making Virat a co-founder and shareholder. They now get two very important growth levers: ⬇️ 1. A powerful manufacturing (via Mochiko Shoes - a 600 CR+ footwear brand that Agilitas acquired in 2008 ), 2. India’s biggest athlete — exclusively aligned. Easily becomes a 4000 CR revenue brand in the next 5 years. Footwear + retail scale requires capital — but this partnership compresses customer acquisition, product cycles, and brand-building like few others. Even Virat said in his podcast with Abhishek Ganguly, the co-founder of Agilitas that, “I didn’t want a brand deal… I wanted to build something that outlives me.” And Abhishek said something even beautiful - “An ambition to build from India but be globally relevant.” This isn’t marketing. This is legacy building with shared skin in the game. And that is how startups work - shared ambition with one goal (to make the company big) and food (read stake) in the table for everyone! A company that can be built in the long term with culture, capital, and conviction aligned. This might be the first time in India, where an athlete joins hands with a sport company to re-imagine and build the sport ecosystem of India - truly revolutionalising the game with a clear vision. 🙌

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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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On February 18, during India's AI Impact Summit, a company called Sarvam shipped a 105-billion-parameter model trained from scratch in India on government-subsidized GPUs, designed for 22 Indian languages. It outperforms DeepSeek-R1 on certain benchmarks at one-sixth the size. The same summit produced $200 billion in investment pledges from Amazon, Microsoft, Google, and Reliance. The headlines were about the money. The real story was Sarvam. This post examines in detail why it took this long, what changed, and whether Sarvam is the first crack in an old equilibrium or a lonely exception. "Indians Rule Big Tech. Why Can’t India Build?": Link in comments.

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Grateful to join Shripati Acharya and the Prime Ventures Podcast to discuss Uniphore’s journey and what it really takes to bring agentic AI into production at the world’s largest businesses. We covered a few themes that keep coming up with CIOs and business leaders I speak with: what industrializing AI looks like beyond pilots, why a horizontal enterprise platform (data, models, security, agents) is essential for scaling responsibly, and the challenge of making AI agents more deterministic through architecture, guardrails, and workflow design. I also shared why small, fine-tuned models can be the right approach for many business use cases, balancing accuracy, control, and cost at scale. At the center of this is the Uniphore Business AI Cloud: an end-to-end platform that helps businesses bring their data together, fine-tune models, and build and deploy AI agents with the security and sovereignty large organizations require. And, it’s increasingly enabled by a strong ecosystem of strategic partners across compute, data, and cloud, working together to help customers move from experimentation to measurable outcomes. I’m confident the next chapter of Business AI will be defined by disciplined execution and real impact at scale. Thank you Shripati for a thoughtful conversation. Let’s do it again soon. #BusinessAI

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Some companies don’t wait for growth to plateau. They act before the slowdown, not after.   In 2016, the Indian telecom market looked saturated. Airtel, Vodafone, and Idea dominated the landscape. Voice was cheap, data was expensive, and high-speed internet was largely confined to metros. Most of India, beyond the metro cities, was still waiting in the digital queue.   Then came Jio.   Backed by Mukesh Ambani’s vision and Reliance’s deep pockets, Jio didn’t play by the existing rules. It rewrote the game entirely.    Instead of entering the market slowly, Jio poured in over ₹2,50,000 crore (~$33 billion) to build the most advanced, all-IP digital infrastructure in India: • 1.1 million km of fiber laid across the country. • 175,000+ towers built. • JioFiber and JioAirFiber brought gigabit internet to over 1,100 cities and towns. • JioSpaceFiber launched satellite broadband to reach India’s remotest corners.   This was not an incremental play. It was an aggressive, audacious leap designed to create affordability, not wait for it to emerge.   While competitors introduced 4G in patches and raised tariffs defensively, Jio entered with: • All-data network using VoLTE (no legacy voice). • Free voice calls and dirt-cheap data. • Unlimited plans that undercut everyone.   The response? • Vodafone and Idea merged to survive. • BSNL and MTNL lagged, saddled with aging infrastructure. • Airtel fought back, but Jio had already redefined expectations. What followed was a digital revolution: • ₹152/GB dropped to under ₹10/GB. • 200M+ subscribers joined Jio in just two de years. • India became the largest mobile data consumer globally by 2017. • Jio’s footprint helped boost India’s per capita GDP by an estimated 5.65%. • Jio holds a robust and diverse spectrum portfolio across multiple frequency bands, crucial for its telecom services and 5G rollout. • Jio’s 5G user base has surpassed 200 million, making it the largest 5G operator in India.  • E-commerce, fintech, edtech, and OTT industries rode the “Jio effect” into hypergrowth.   Jio didn’t disrupt by responding to a threat. It acted before there was one. It saw the opportunity that others missed or ignored.   And that’s the real lesson.   Too many companies wait for signs of decline before they innovate. They play defense. They protect old models, and by the time the wall is visible, it’s too late to turn.   Agility isn’t about speed of reaction. It’s about clarity of vision.   Whether you're a startup or a legacy giant, the question isn’t just “𝘏𝘰𝘸 𝘧𝘢𝘴𝘵 𝘢𝘳𝘦 𝘸𝘦 𝘨𝘳𝘰𝘸𝘪𝘯𝘨?” It’s “𝘈𝘳𝘦 𝘸𝘦 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘧𝘰𝘳 𝘢 𝘧𝘶𝘵𝘶𝘳𝘦 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘩𝘢𝘴𝘯’𝘵 𝘴𝘦𝘦𝘯 𝘺𝘦𝘵?” Because the boldest moves, the ones that reshape industries, aren’t made in response to disruption.   They cause it. They see the inflection point before it arrives and build for it.   Let’s talk about building before the inflection point.   #Leadership #Growth #Innovation

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🌟 AI at the Core. TechCo Reimagined. The winners of the next decade will not be those with the largest networks —but those with intelligence embedded at every transaction. The competitive moat in telecom will not be spectrum or scale alone — it will be intelligence. AI must move: - From dashboards → to decision engines - From analytics → to autonomous orchestration - From personalization → to hyper-contextual monetization The real transformation is structural: - AI embedded into BSS/CRM - AI-native charging and loyalty engines - Autonomous care - Dynamic pricing in real time TechCo isn’t a branding exercise. It’s an architectural shift. Circles #telcototechco https://lnkd.in/gbszQN5d

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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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Today in Delhi, we announced the 𝗚𝗼𝗼𝗴𝗹𝗲 𝗔𝗜 𝗵𝘂𝗯 𝗶𝗻 𝗩𝗶𝘀𝗮𝗸𝗵𝗮𝗽𝗮𝘁𝗻𝗮𝗺—a transformative investment of US$15 billion over five years. This initiative is aligned with the Indian government’s Viksit Bharat 2047 vision, and anchors the next phase of U.S.–India tech cooperation. What this means for consumers, communities and companies in the region:  • 𝗛𝘆𝗽𝗲𝗿𝘀𝗰𝗮𝗹𝗲 𝗰𝗼𝗺𝗽𝘂𝘁𝗲: We are deploying our full AI stack with gigawatt-scale compute capacity, ensuring every enterprise has access to the cutting-edge performance needed to innovate faster and scale their solutions.  • 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲: Developed with key partners like AdaniConneX and airtel, the hub integrates a new international subsea gateway and clean energy solutions, strengthening the entire national digital backbone.  • 𝗧𝗵𝗲 𝗯𝗹𝘂𝗲𝗽𝗿𝗶𝗻𝘁 𝗳𝗼𝗿 𝗴𝗿𝗼𝘄𝘁𝗵: This investment is designed to deliver industry-leading services at low latency, creating meaningful opportunities for inclusive growth and advance India's place as a global leader in the AI-driven future. We are proud to bring this unparalleled capacity and these resources closer to our customers, enabling them to compete and thrive on the global stage. ➡️ http://goo.gle/4ogQ03T IndiaAI #IndiaAIImpactSummit2026 #BharatAIShakti #ProudtoCloud

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The close of the $100 million IAN Alpha Fund reflects how I see the next phase of innovation taking shape in India. As the global landscape becomes more unipolar, self-reliance in foundational technologies is no longer optional. Sectors like semiconductors, defence, biotech, space, agritech, water, and sanitation are national priorities, not just investment opportunities. With the Alpha Fund, our focus is on backing companies that have moved beyond pure research and are closer to commercialisation. Deeptech will always involve risk, but that risk can be managed by investing at the right stage, building diversified portfolios, and linking capital to real progress and visibility. Equally important is the partnership with founders. Capital alone does not create outcomes. Active engagement, governance, and business support are critical to help companies scale with confidence. This fund represents our long-term commitment to founders building for India’s needs while remaining globally relevant. Read more: https://lnkd.in/gcbj_aAW IAN Group | CNBC-TV18 #DeepTech #StrategicInnovation #IndiaInnovation #VentureCapital #IANGroup #StartupEcosystem

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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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