The Neon Show

A 14-year journey from bootstrap to scale.Exotel’s story is one of India’s most remarkable SaaS journeys. Shivakumar Ganesan, started Exotel in 2011, bootstrapping it from the ground up. In 2012, he raised a seed round of ₹2.5 crore, but for the next eight years, the company grew without any external funding. Then came COVID and revenue went from $10M to $5M and what followed were bold strategic moves.3 funding rounds, 2 major acquisitions, and the decision to stay focused on the Indian market despite advice to go global first. Today, Exotel powers calls for delivery executives, cab drivers, and banking relationship managers across the country.In this conversation, Shivku shares what it’s like to tackle India’s unique AI challenge of building voicebots in 30+ languages, and how automation could reduce contact center jobs by as much as 80%. He talks about the tough transition from serving SMBs to enterprise customers and how he has built a ₹2500 crore+ business without leaving India.If you’re interested in B2B companies built from India, this episode is full of insights on timing, reading the market, and creating deep moats in overlooked opportunities.0:00 – Trailer0:42 – Exotel enabling 2 Billion Calls Monthly5:04 – 4 Fundraises & 2 M&A’s in 18 Months12:06 – How Acquisitions Affect Company Finances18:11 – Why 90% of M&As Fail22:02 – Why Acquisitions Are Extremely Hard22:59 – How AI Will Change Customer Relations26:46 – How Customer Spending Will Shift with AI29:10 – AI Could Reduce 80% of Jobs30:27 – Where AI Offers Hope31:47 – India’s Unique AI Challenges34:60 → Actually 35:00 – Building in India for the US Market38:17 – Why Exotel Didn’t Enter the US Market39:49 – Indian SaaS Co’s Should Go Public42:50 – The Mega Cycles of Tech Transformation45:37 – Customer Segments: SMBs to Startups to Enterprise56:45 – Find Large Uniquely Indian Markets to Solve59:44 – India’s Shift from Price to Quality Is 20 Years Away-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

The software that powers 25% of India’s e-commerce transactions, processes a billion orders each year, and in 2025 alone fulfilled 20 million quick-commerce orders: Unicommerce sits at the core of India’s digital retail ecosystem. It is one of the few SaaS companies from India to go public, doing so after nearly a decade of steady growth without fresh primary capital until its IPO in 2024.In this episode of The Neon Show, we sit down with Kapil Makhija, CEO of Unicommerce, the company quietly running India's $60B E-retail market (set to hit $2 Trillion in the next two decades). The conversation goes beyond the company’s journey to unpack how perceptions of Indian SaaS customers are changing: from the old belief that they “don’t pay” to a more nuanced reality where they value communication, support expectations, and long-term relationships define success.We also look ahead to the future of SaaS in India: from the impact of AI, to the challenges of scaling from zero to $100M, to the balance between pricing and value, and identifying the sectors most ready for building large SaaS companies.This episode is for anyone curious about the story of SaaS in India, from how it is being built, scaled & the opportunities ahead.00:00 – Trailer01:15 – India makes you product-ready & pressure-tested03:45 – GTM: India doesn’t reward size, it rewards focus05:00 – Joining Unicommerce the week Snapdeal acquired it10:10 – Digital-first brands vs. traditional brands12:36 – Why Excel and manual ops were the real competition?14:25 – The acquisition of Shipway17:02 – How will the company achieve 1000 Cr Revenue?19:40 – How the decision to go public was made23:40 – Success in SaaS isn’t sign-ups, it’s retention29:31 – The myth that Indian customers don’t pay33:30 – Do Indian customers want Enterprise support but SMB pricing?36:40 – The impact of AI on SaaS39:10 – Founder vs. CEO: Is there a difference?47:29 – White spaces in e-commerce waiting to be built50:35 – Q-commerce vs. E-commerce: where are brands betting?52:07 – How SaaS companies decide if they’re IPO-ready?55:10 – Can India build billion-dollar SaaS companies at home?58:15 – How long does the 0 → $100M journey really take?01:01:15 – How to build a ₹100 Cr SaaS company today?01:09:53 – Are pricing advantages in SaaS sustainable?01:12:22 – How much do brands actually spend on tech?-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Rajiv Sikri, a former diplomat with 36 years in the Indian Foreign Service, shares his expert insights into today's shifting global power dynamics. He discusses how the U.S. remains the single great power while its tariff policies are reshaping global trade, challenging nations like India. The conversation delves into the implications of the Russia-Ukraine conflict for global security and India's unique positioning. Additionally, Sikri highlights the rising alliance between China and Pakistan and warns of the potential for regional conflicts with global ramifications.

Ashok Atluri founded Zen Technologies in 1993, bootstrapping from Hyderabad at a time when India was importing 70% of its defence equipment and private players contributed just 5% of procurements. It took Zen five years to win its first contract from the Indian Army in 1998.Today, the company builds simulators and anti-drone systems, and has grown its market cap from ₹40 crore to over ₹13,000 crore.Ashok shares that India needs to make it easier for private, self-funded R&D companies to succeed in defense tech and why the focus should be in building technology with India’s own IP. We also discuss the policy shifts he has seen in India’s defense tech over the last 32 years, and how policies like IDDM and Make-II have reshaped India’s defense manufacturing.This is an episode with a founder who has spent over three decades turning India’s defence technology from an import-dependent sector into one that can build defense tech with its own IP.0:00  – Trailer  1:18  – Why entering defense tech must be easier  8:48  – Building simulators for the army  10:53 – Zen’s entry into anti-drone systems  12:26 – 400x growth in 12 years  13:41 – Policy shifts in defense tech  15:42 – How Indian-owned IP can transform defense?  19:24 – How big is India’s defense simulations market?  22:06 – From ₹60 Cr to ₹930 Cr in 4 years  25:27 – How are simulations built for future weapons?  29:15 – India’s defense budget (foreign tech vs. local tech)  30:23 – The entry barriers in the 1990s and even today  31:43 – Is doing business with the government harder for some sectors?  36:06 – Surviving 32 years being financially conservative  37:29 – How Indian government is pushing exports in defense tech  40:35 – Zen’s anti-drone systems used in Operation Sindhoor  42:31 – Will there be an India–China conflict?  43:15 – Where does China stand in defense tech?  44:08 – How India should back its wealth creators  49:12 – Policies that are enabling Indian defence companies today  49:37 – Parrikar’s influence on private sector role in defense tech-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

From idea to IPO and beyond. What does it take to back a company for nearly two decades?There are no written rules to navigate one of the most important relationships in a startup. One between a founder and an investor.This episode is an inside look at how one of India’s longest founder-investor relationships was built and tested, between Yashish Dahiya (Policybazaar) and Sanjeev Bikhchandani (Info Edge).In 2008, a ₹20 crore cheque was signed for 49 percent of the company, based solely on a powerpoint idea.What followed were regulatory challenges, shifting business models, new investors on-board, and moments of disagreement. But through 17 years, six funding rounds, and an IPO, they stayed aligned.These are two entrepreneurs who built their first ventures a decade apart; Sanjeev in 1997, Yashish in 2008 and have seen the Indian startup ecosystem evolve from the ground up.If you are building or funding startups this conversation will resonate with you for its honesty and give takeaways for your own journey.0:00 – Infoedge Ventures X Policybazaar1:08 – Sanjeev’s first memories of Yashish before Policybazaar5:33 – Pitching of the Policybazaar idea 11:08 – How Info Edge almost didn’t invest in Policybazaar15:56 – What shaped Yashish as Founder & Sanjeev as Investor25:14 – How the founder–investor bond evolved 27:08 – The Boardroom Dynamics at Policybazaar31:08 – Moments of Disagreement: ₹840 Cr raised, ₹700 Cr still in the bank34:38 – What makes an investor-founder relationship work?46:02 – What We’ve Learned after 17 years of building together49:03 – How India can build Long-term founder-investor bonds-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

The global strategy consulting market stands at $39.5 billion, with Asia commanding $9.1 billion. India contributes just $1.09 billion. This is despite having the talent; Indians run global back-offices for McKinsey, BCG, Bain, Deloitte, and other consultancies. Yet, India continues to outsource strategy to the Big 4.Sanjeev Sanyal, PM Modi’s Economic Advisor joins us to break this down.We discuss the factors helping and hindering India’s growth opportunities. Sanjeev has long worked on improving the process reforms with the belief that this country needs small reforms that will bring huge impact.We also discuss AI, with a policymaker who strongly believes unregulated AI will be catastrophic. Sanjeev shares his opinions on what could be the government’s approach to regulation, with acceptance of the limited predictability of future with AI.If you want to understand India from a policymaker’s eye this episode is for you.0:00- Trailer0:55 – Why India Needs Many Small Reforms2:50 – Was WFH Technically Illegal Until 2000?3:57 – India as the GCC Capital for the world7:02 – How did India go from filing 6,000 to 1 Lakh Patents?13:45 – Why India Can’t build Its Own Big 4+317:40 – When professional bodies in India don't work together21:05 – What happens when branding is banned?24:08 – Restrictions That need to stay27:11 – How India’s IT Sector Grew Without a Governing Body30:06 – Are we risking catastrophic failure with Unregulated AI?36:10 – Can We Regulate AI Like the Stock Market?41:39 – Why India Must Shut down Population Control47:10 – Will AI Replace Lawyers and Accountants?49:14 – What India Isn’t Ready For?51:31 – India as a historically risk taking nation54:31 – Why are professional bodies holding onto protection?56:55 – The Business Culture Problem in Kolkata58:32 – Sanjeev’s Work in Agroforestry-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

This episode is not just about Kerala; it is about how a state with limited land, strict environmental regulations, and a long history of outmigration is approaching investment and growth.Kerala is a small, densely populated state with limited land to spare, not the typical site for industrial expansion. Yet it’s taking a distinct approach to building a knowledge based economy.P. Rajeev (Minister for Industries, Law and Coir, Govt of Kerala) joins us to break this down.We discuss how Kerala rose from the bottom to become the top-ranked state in Ease of Doing Business, what’s behind the ₹1.5 lakh crore in investment pledges, and why the state is prioritizing high-value industries over land and labour-intensive manufacturing. We also unpack how Kerala plans to convert MOUs into functioning factories and real jobs, and why startups that once moved away are now beginning to stay. Tune in if you’re curious about how Indian states are attracting investment and rethinking their development models.0:00 – Trailer1:18 – Is Kerala Still Fighting Old Perceptions?5:59 – Kerala to Focus on Value-Added Manufacturing7:45 – How to Start an IT Firm in Kerala & Where It Missed the Tech Bus10:35 – What’s Blocking Startups from Scaling in the State?11:15 – Can Kerala Retain Its Best Talent?14:20 – Kerala’s Vision for a Free-Thinking Knowledge Economy16:36 – Repositioning as an Investor-Friendly Destination19:22 – What the “Nature, People, Industry” Motto Really Means22:22 – Will Kerala Deliver on Its Investor Summit Promises?23:42 – Why Vizhinjam Could Be a Game-Changer26:00 – How Indian States Are Competing for Investments28:47 – Is Stagnation in Productive Sectors Slowing Development?32:38 – Is Kerala’s Geography a Barrier to Growth?33:24 – Are Its Environmental Rules Too Rigid for Industry?34:22 – Is Communism Holding Kerala Back?37:48 – When the Communist Govt funded a Private Co.41:17 – The Real Kerala Story43:28 – The History Behind Kerala’s Education Revolution45:14 – What the Kerala Model Must Fix48:06 – Internet as a Basic Citizen Right48:56 – Kerala’s Health Workers on the Global Frontlines51:19 – Can Outsiders Easily Buy Land in Kerala?53:01 – The State’s Only Unicorn Company54:21 – Can Startups from Kerala Go Public?-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

AI is changing how companies build and scale. But most pitch decks haven’t caught up.Karthik Chakkarapani, CIO of Zuora, has heard plenty of startup pitches but only a few stand out. He shares why most pitches fall flat, how to fix them, and how to present both the founder and the company in a way that drives real interest.We unpack what should go into your 30-second elevator pitch, why “Time to Value” needs its own slide, and how to bring up AI without sounding like everyone else.SaaS is changing fast and it’s no longer just about features, but about speed, clarity, and proof of value. We explore how the next wave of SaaS companies can truly differentiate themselves.Building a startup is different in a post-UI world, where users don’t click through screens but simply prompt systems to act. We discuss what it takes to build in a world of API-driven AI agents, along with real lessons on what most founders get wrong about working with large companies.If you're building SaaS in 2025, this conversation is for you.0:00 – Trailer1:05 – How the CIO Role Has Changed3:21 – How Zuora Enables the Subscription Economy5:45 – Is SaaS Becoming Headless?7:55 – Are We Entering a Post-UI World?10:37 – What’s the New Competitive Advantage?12:31 – Will Entry-Level Jobs Be Replaced by Tools?14:05 – What Metrics Will Matter in an Agentic AI World?15:55 – How to Measure AI Adoption in Your Company18:38 – What’s the Hype-to-Reality Ratio for AI?20:19 – What Is the Biggest ROI AI Has Delivered?23:53 – How Startups Can Get Deployed in Enterprises27:10 – How Founders Should Use AI in Their Pitch28:45 – Bolt-On AI vs. Built-In AI32:26 – Most Common Myth About CIOs35:03 – Why You Need a Prompt Library36:04 – What to Avoid in Your Pitch Deck37:21 – How Atomic Work Came Onboard42:47 – The Underrated Soft Skills Founders Need47:55 – 3 Examples of Killer 30-Second Elevator Pitches51:59 – The “Time-to-Value” Slide Explained53:46 – What Founders Get Wrong About Enterprises54:58 – Top SaaS Misconceptions About Enterprise57:00 – Where Enterprises Adopt AI the Fastest59:45 – How the Next SaaS Companies Will Differentiate1:00:33 – Bay Area vs. Bangalore vs. Chennai1:03:33 – Rapid Fire Round-------------​​India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Three failed startups. One of India’s biggest B2B exits. Then returning 75% of investor money in the next venture. An entrepreneur who’s lived that arc is bound to have insights for anyone building or thinking of building.Paras Chopra, founder of Wingify (sold for $200 million), Nintee, and now Lossfunk, joins us this week.We discuss the small decisions that quietly define your startup: what product to build, how to structure your team, and why setting the right communication culture early can help.Paras shares what most founders overlook early on : Pricing isn’t about effort you put but about the value you create, why having competitors might actually be better than having none, and how financial metrics often distract from what really matters to customers.Paras talks about what changed between each attempt of building his startups, and why some lessons only reveal themselves the hard way and what shifts after you’ve seen both failure and success. Whether you're launching your first company or planning your next, this conversation will give you the clarity needed to tilt the odds in your favor.Check out The Book of Clarity by Paras Chopra.00:00 – Startups Should Be Like Cults02:25 – Building a Founder’s Value System03:25 – Bet on What Won’t Change in 10 Years05:15 – What AI Can’t Do Well (Yet)10:00 – Do Humans Even Want Accuracy?10:57 – What Founders Should Not Build or Sell13:35 – Are many competitors better than none?19:47 – Why Repeating Success Is Hard21:20 – Customer Value Metrics > Financial Metrics23:35 – Why Paras’s Startup after Wingify Didn’t Work27:00 – What Is Micro Communication?30:41 – Writing Culture in a Startup32:50 – Obsess Over Organisational Design37:15 – Is Luck in Our Hands?41:24 – Why Bias Is Risky for Entrepreneurs42:35 – Great Startups Look Like Toys at First44:00 – Why Deep Tech Startups Struggle to Succeed46:09 – Paras’s New Venture Lossfunk49:23 – Why Uncertainty Is a Startup Moat55:56 – What Most Founders Get Wrong About Pricing57:36 – Should Price be on Effort or Value?59:23 – Wingify Innovated on Just One Metric1:00:25 – What Is Failure for Paras?1:04:08 – Diversify Your Self-Worth Like a Portfolio1:05:21 – The Startup Game Is a Mental Game1:06:43 – Did Wingify Create Wealth or Just Money?---​​India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.---Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7---This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Krishna (Vasanth) Namasivayam, founder of Featurely and ex-AI product developer at NVIDIA, Meta, and Dropbox, shares invaluable insights into product design. He reveals that half of all features go unused and emphasizes the need to address real problems accurately. Vasanth discusses the elitism in tech and the importance of simulation with synthetic users to enhance decision-making. He also contemplates the future of AI agents and their role in understanding human behavior, making products truly user-centric.