In a business landscape where only 10-15% of Indian startups achieve lasting success, TreadBinary’s 4-year journey stands as a testament to resilience, innovation, and purpose-driven leadership. Co-founded by Yuvraj Shidhaye and Darshil Shah, the company has navigated significant challenges, from redefining consulting practices to spearheading cutting-edge research and development. In this exclusive interview, Yuvraj Shidhaye, Founder and Director of TreadBinary, shares the pertinent moments, technological strides, and the unwavering commitment to giving back that have defined their journey in the industry so far.
TAM: As TreadBinary celebrates its 4th anniversary, what have been the key turning points in the company’s growth, and how have you navigated challenges along the way to reach this milestone?
Yuvraj Shidhaye: To begin with, the challenges and opportunities that shaped our journey actually started before we founded TreadBinary. Both Darshil Shah and I come from consulting backgrounds, with over a decade of experience. During our professional journeys, we saw immense opportunities globally, where, as Indians, we believed we could stand out and even surpass some of the best consultants out there. However, when we approached our management to seek a platform to achieve our full potential, we weren’t provided the opportunities we envisioned. That’s when we decided to take matters into our own hands. We raised half a million dollars in funding, left our respective employers, and started working with an incubator.
Soon, we realized that working under a funding entity still didn’t align with our vision, particularly regarding innovation. Developing a world-class product in India demands not just quality but also commitment, and it should never be driven solely by numbers. Unfortunately, most angel investments are focused on valuations and scaling up numbers quickly, which didn’t resonate with our values.
This misalignment became our first major challenge even before TreadBinary was officially formed. Darshil and I, as co-founders, made the tough decision to return the funding we had received within the first three months. We pooled in our personal savings, with support from our families, and started TreadBinary with a focus on building research-driven, high-quality products.
Being a bootstrapped startup, we had to ensure our sustenance. Leveraging our decade-long experience and professional networks, we secured our first consulting opportunity. This allowed us to generate some initial revenue while dedicating ourselves to building our products.
For the first 18–24 months, we balanced consulting services and product development. Through this period, we remained deeply committed to our ethics and principles, not just as TreadBinary but as representatives of India’s IT sector. There is often a perception that India is merely a “factory” for development or consulting, while strategic decision-making happens elsewhere. Changing this narrative and earning our clients’ trust was both a challenge and a driving force for us.
Adding to these challenges was the timing of our startup. We began during the peak of COVID-19, a time when market confidence was low, remote work was becoming the norm, and moonlighting presented unique risks. As a startup, we often faced manipulative situations when hiring. Many candidates, after hours of interviews and mutual commitment, would later renegotiate or back out for a marginal salary hike elsewhere. These emotional setbacks were tough, but they taught us resilience.
Despite these hurdles, we’ve been fortunate to build a great team. Our achievements today would not have been possible without their dedication and shared vision. While the journey has been marked by blood, sweat, and tears, it has also been immensely rewarding. We remain committed to creating a lasting impact, not just as a company but as part of India’s evolving IT landscape.
TAM: How have technological innovations in sectors such as business process optimization and multinational collaborations influenced TreadBinary’s strategic direction and success?
Yuvraj Shidhaye: No matter the technology we implement—whether it’s generative AI, machine learning, smart factories, or anything else—the ultimate goal is to drive business growth. Technology serves to automate processes, reduce workloads, or increase efficiency and throughput. These are the core objectives, the bottom line, of any implementation.
Through our 15+ years of experience, we’ve noticed a recurring issue with many traditional IT consulting companies and product developers. Their approach often starts with the technology: “I have an innovation; now let me find a place for it in the industry.”
Our approach is fundamentally different. We position ourselves as a business consulting partner. Instead of leading with technology, we focus on understanding the client’s problem statement first. Once we have a clear understanding, we identify the best technology to address that specific issue.
Just because we have an innovative or fancy solution in our portfolio doesn’t mean we push it unnecessarily. It’s all about what serves the client’s needs most effectively. This problem-first mindset is the foundation of how we work with our clients.
TAM: With your vision of TreadBinary becoming a global leader in R&D, what steps are you taking to ensure the company remains at the forefront of technological advancement in the next five years?
Yuvraj Shidhaye: When we launched our product, we already had a patent in place. Not only is the patent registered in India, but it is also recognized globally through the Patent Cooperation Treaty (PCT). This treaty, which covers around 163 countries, ensures that no other organization or inventor can apply for a similar patent within those jurisdictions. This means that our intellectual property rights are well-protected, both locally and internationally.
It has been two years since we launched the organization and the product, and the journey has been strong and steady. Over this time, we’ve not only upgraded the original product but also introduced advanced parallel versions. Additionally, we have established a 100% subsidiary in the United States and formed a strategic partnership in Sweden.
To further strengthen our global footprint, we are expanding our legal and operational presence in these countries. We have also begun operations in Indonesia and are in discussions with Taiwan, widely regarded as the chip capital of the world. These steps are part of our strategy to scale and diversify our global operations.
TAM: How do you foster a collaborative environment at TreadBinary that not only encourages innovation but also prioritizes continuous learning and equitable compensation for your team?
Yuvraj Shidhaye: Motivation works both ways, and for a research-oriented organization like TreadBinary, the first two years were particularly challenging. During this time, we reached out to our trusted friends to join us as confidantes, and today, we’re proud to have grown into a strong team of 65+ individuals.
We have a dedicated team focusing on research initiatives, particularly in AI and machine learning, where we develop models in-house. This approach is fundamentally different from simply using open-source models available online. By building from scratch, utilizing core sciences like mathematics and physics, we aim to create innovative solutions. If an innovation leads to a patent, we ensure the contributors receive due credit, including having their names on the patent. We don’t believe in monopolizing credit or ownership; instead, we allocate a significant share to those who contribute.
At TreadBinary, we foster a culture of curiosity and flexibility. We don’t rigidly segment teams into SAP, Microsoft, application development, or process groups. Instead, we operate as a single cohesive unit. If someone shows interest and demonstrates value in a particular research initiative, we assign them entirely to it, regardless of whether they are billable to a client. Our focus is on elevating India’s position in IT research, moving beyond being just a service or product development hub.
While India excels in areas like fintech and pharma, IT innovation has yet to make a truly groundbreaking mark. Yes, we’ve developed outstanding products, but they are often enhanced versions of existing solutions rather than entirely novel creations. This drive to create something genuinely original keeps our team motivated.
As founders with a consulting background, we’ve experienced firsthand how creativity can be stifled in traditional setups. At TreadBinary, we are committed to nurturing that creativity. Beyond the standard CTC, we offer meaningful perks. For example, during our recent fourth anniversary celebrations, we not only recognized achievements with certificates and medals but also gave substantial monetary awards.
These gestures of appreciation keep our team energized and motivated. In an industry where bonuses are often a fixed expectation—or not delivered at all—we ensure our people feel genuinely rewarded for their efforts.
TAM: You are also the President of the Rotary Club Thane-creek side. How do you balance your business leadership with your commitment to CSR activities, and how does this influence the culture at TreadBinary?
Yuvraj Shidhaye: From a young age, I’ve seen my grandparents and parents actively involved in social service. However, venturing into commercial work and starting a business is not as straightforward. Darshil shares a similar passion for giving back to society—perhaps even more so—which motivated us to formalize this commitment. We wanted to allocate our time and resources to make a meaningful difference.
Even in our first year, when we weren’t yet profitable, we made our first donation to support lost girl children at railway stations whose parents couldn’t be identified. The amount felt substantial to us at the time, and it marked the beginning of our journey in social service.
Since then, we’ve consistently engaged in various initiatives. For instance, we’ve restored open wells in remote villages affected by drought and organized a blood donation camp last week. Out of 60-65 attendees, 42 were eligible to donate—a remarkable turnout that reaffirmed our belief that our team shares our commitment to these causes.
Currently, we’re working with our local Rotary Club on a cervical cancer vaccination project for women. Today, we’re conducting the first analysis, which will guide the vaccination process. Additionally, we’re planning multiple de-addiction camps for issues like drug and mobile addiction, along with mental health awareness workshops in the coming days. These activities bring a deep sense of fulfillment and remind us that money isn’t everything.
To date, we’ve invested around $3,500 to $4,000 in CSR activities through TreadBinary. Looking ahead, we’re focusing on rural empowerment and self-sustainability. Our goal is to create IT employment opportunities for individuals in rural India without requiring them to migrate. In the coming months, we hope to share quantifiable results from these efforts.
