Technology · India Bureau
IIT Madras, Unicorn India reach ₹450 crore milestone for deep-tech fund
The IITM Unicorn Frontier Fund I has secured its first close at ₹450 crore as it works toward a target corpus of ₹1,000 crore. The fund has already committed nearly ₹55 crore across four deep-technology startups.
LSN India ·
IIT Madras and Unicorn India Ventures have announced the first close of their flagship deep-technology investment fund at ₹450 crore, marking significant progress toward their ₹1,000 crore target. The IITM Unicorn Frontier Fund I aims to support early-stage technology startups developing innovations in sectors including artificial intelligence, biotechnology, materials science, and quantum computing.
Since inception, the fund has deployed approximately ₹55 crore across four portfolio companies focused on deep-tech solutions. The investment strategy emphasizes backing founders and teams working on transformative technologies with long-term potential to address global challenges.
The partnership between IIT Madras and Unicorn India Ventures leverages the institute's research expertise and innovation ecosystem alongside the venture capital firm's investment experience. The fund is expected to reach its final close by December 2026, with plans to continue expanding its portfolio of deep-technology ventures during this period.
The initiative reflects growing momentum in India's deep-tech startup landscape, where investors are increasingly targeting companies developing fundamental technological breakthroughs rather than incremental improvements to existing solutions. The fund's structure aims to support founders through extended development cycles typically associated with hardware and science-based innovations.