ACTIVE PROJECTS

Five companies, under build.

Each initiative is a company we're actively building from the ground up — capitalized internally, staffed with operating partners, and shaped by real customer feedback before scale. Below, the unvarnished status of each.

01
PILOT LAUNCHED · DELHI

3W Cargo Electric Vehicle

Sustainable last-mile delivery solutions purpose-built for Indian urban density, road conditions, and load profiles — not Western vehicles re-skinned for emerging markets.

The Opportunity

India operates over 1 million three-wheeler cargo vehicles. Most still run on internal combustion. The ones that have electrified are mostly retrofits — battery packs bolted onto vehicle frames designed for diesel. Range, load capacity, and total cost of ownership all suffer as a result.

The shift to electric in last-mile cargo is happening regardless of any single player. The question is who builds the vehicle India actually needs — designed from the chassis up around the realities of 35-degree summers, 70-pound load distributions on narrow streets, and drivers who service their own vehicles.

What We're Building

Current Status

Pilot fleet of 24 vehicles operating across two Delhi logistics partners. Real-world data on uptime, range degradation, and TCO is being collected continuously. Production version planned for Q3 2026.

02
BUILD PHASE · TEAM 22

Battery Design & Manufacturing

Advanced energy storage systems for electric mobility, grid stabilization, and industrial backup — designed and assembled domestically, with deepening cell-to-pack capability.

The Opportunity

India imports the vast majority of battery cells used in domestic EVs and energy storage applications. The Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell manufacturing has begun to shift this, but the gap between policy intent and operating capability is wide. Most domestic players are still cell assemblers, not cell manufacturers.

We're not betting that this gap closes overnight. We're betting that the firms that build deep BMS, thermal management, and pack engineering capability today will be the firms cell manufacturers partner with when their lines come online.

What We're Building

Current Status

Team grown from 8 to 22 in nine months. Pilot production line operational. First commercial pack deliveries to mobility OEM partners scheduled Q2 2026. R&D on next-generation cell chemistries ongoing in partnership with an IIT research group.

03
SCALING · 4.2K BORROWERS/MO

Gig Economy Lending Platform

Financial inclusion for India's 30 million+ gig workers — alternative-data underwriting, no minimum credit history required, capital priced for risk that lenders haven't traditionally seen.

The Opportunity

India's gig economy is projected to support over 90 million workers by 2030. These are platform delivery drivers, e-commerce fulfillment partners, ride-share drivers, and independent service providers. Most have no formal credit history, no salary slip, and no relationship with a traditional bank — but they generate income data through the platforms they work on.

That data — earnings stability, route patterns, customer ratings, payout frequency — is more predictive of credit risk than the traditional inputs banks rely on. Our thesis is that the lender who underwrites on this data first, at scale, builds a structural moat.

What We're Building

Current Status

4,200 new borrowers per month and growing. Default rates running below model expectations. Series A discussions underway with strategic and financial investors. NBFC application in active review.

04
EARLY GROWTH · GMV ↑ ₹2.1Cr

E-commerce for Handicrafts

A global marketplace for Indian artisans and handloom producers — direct-to-consumer infrastructure with authenticated provenance, fair-margin economics, and export-grade fulfillment.

The Opportunity

India is home to over 7 million artisans producing handicrafts and handloom goods. The global market for premium handcrafted goods is over $700 billion. The capture rate for Indian producers, particularly individual artisans, is a fraction of what the value chain commands at the retail end.

Most existing platforms either commoditize the goods (Amazon, generic marketplaces) or skim them at high margins through retail middlemen. We're building infrastructure that puts the artisan within two steps of the global buyer — with provenance, payments, logistics, and customer service handled.

What We're Building

Current Status

Active producer base of 340 artisans across 8 states. GMV growing month-over-month, currently at ₹2.1 crore quarterly. International shipments to US, UK, UAE, Singapore. International expansion planned across two new markets in 2026.

05
TESTNET LIVE · BUILD PHASE

Blockchain Tokenisation Platform

Digital asset management infrastructure for real-world asset tokenisation — bringing real estate, commodities, and private market assets onto compliant, regulated rails.

The Opportunity

Real-world asset tokenisation has moved from speculative narrative to live institutional product. Bonds, money market funds, real estate, and commodities are being issued and settled on blockchain rails by some of the largest financial institutions globally. India's regulatory framework is evolving in parallel, with sandboxes and pilot frameworks emerging from SEBI and the RBI.

The opportunity is to build infrastructure native to Indian asset categories — real estate, family-business equity, commodity inventories — that meets emerging compliance standards from day one rather than retrofitting it later.

What We're Building

Current Status

Testnet live with internal asset issuances. Regulatory dialogue ongoing with relevant Indian financial sector regulators. Mainnet launch targeted post-regulatory clarity. Team of 11 across protocol engineering, compliance, and BD.

Want to lead one of these builds?

We're hiring operators across every initiative — founding engineers, GMs, growth leads, finance heads.

Talk to us See our broader thesis
The Index
3W CARGO EV · PILOT LAUNCHED · DELHI Q4 BATTERY MFG · TEAM 8 → 22 · 9 MO GIG LENDING · BORROWERS ↑ 4.2K MoM HANDICRAFT · GMV ↑ ₹2.1Cr BLOCKCHAIN · TESTNET LIVE HYDROGEN · IIT PARTNERSHIP · RESEARCH PHASE INDEX · 5 INITIATIVES · 14 THEMES · 40+ COUNTRIES 3W CARGO EV · PILOT LAUNCHED · DELHI Q4 BATTERY MFG · TEAM 8 → 22 · 9 MO GIG LENDING · BORROWERS ↑ 4.2K MoM HANDICRAFT · GMV ↑ ₹2.1Cr BLOCKCHAIN · TESTNET LIVE HYDROGEN · IIT PARTNERSHIP · RESEARCH PHASE INDEX · 5 INITIATIVES · 14 THEMES · 40+ COUNTRIES