IIT Madras-backed Unicorn India Ventures raises ₹450 crore; to complete the fund at ₹1,000 crore by December

IIT Madras, its Research Park (IITMRP), and venture capital firm Unicorn India Ventures have announced a first close of ₹450 crore in three months. The final close of a ₹1,000 crore fund, dedicated to advanced technology startups, is expected by December, 2026.

The fund also announced that it is deploying nearly ₹55 crore in four deep tech startups, marking a significant milestone in its efforts to strengthen India’s deep-tech ecosystem. Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “India is undoubtedly entering a defining decade for deep tech startups and is moving from promise to scale.’’