Deep-tech venture capital firm Unicorn India Ventures (UIV) has launched operations in the United States, appointing former Google executive Kishore Kanakamedala as a venture partner to lead the expansion. The move aims to help Indian deep-tech portfolio companies enter the US market, build investor relationships and access global technology ecosystems.
Under Kanakamedala’s leadership, UIV plans to build a team of mid- to senior-level operator-investors in the US. The team will focus on developing industry networks, supporting portfolio companies in their international expansion and strengthening the visibility of India’s deep-tech ecosystem among US investors.
The expansion follows UIV’s recent announcement of the first close of the IIT Madras–Unicorn Frontier Fund I at ₹450 crore, achieved within three months of regulatory approval. The firm said it had seen substantial interest from US investors during its fundraising activities.
Bhaskar Maumdar, founder and managing partner of Unicorn India Ventures, said the US expansion followed the closure of the firm’s third fund of ₹1,200 crore earlier this year and growing interest from American investors in Indian deep-tech startups.
“With the record speed at which we hit the first close of the IITM Unicorn Frontier Fund I, getting a seasoned executive like Kishore was the path forward,” Maumdar said, adding that he had known Kanakamedala for several years and that the latter had previously invested in Unicorn funds.
Building a bridge between India and the US
UIV’s US operations are intended to establish a more active co-investment ecosystem and give the firm closer access to developments in global technology markets. The initiative will focus particularly on helping portfolio companies expand into the US, including those seeking to establish an initial market presence and advance their technology readiness and commercialisation journeys.
Kanakamedala said India’s deep-tech ecosystem was gaining momentum as product-led companies emerged, government policies became more supportive and access to risk capital improved.
“As a Venture Partner, my mandate is clear – invest in builders solving hugely impactful deep tech problems, help our portfolio companies enter in the US, build the investor base, and also be the fountainhead of the developments taking place in the US and globally to enable steep knowledge growth of the enterprising investment team based in India,” he said.
His role will combine investment activity with market development and knowledge-sharing between the US and India. UIV also intends to use its US presence to promote Indian deep-tech companies and build relationships with investors who can participate in future funding rounds.
Deep-tech investment portfolio
Founded in 2016, Unicorn India Ventures is a Mumbai-based early-stage venture capital firm focused on Indian deep-tech companies developing products based on intellectual property. It typically invests between ₹10 crore and ₹25 crore per company and manages approximately US$350 million across its funds.
The firm has backed 54 companies across sectors including semiconductors, space, defence, healthcare, robotics and agritech. Its portfolio includes Open Bank, Olyv, TakeMe2Space, Orbitaid, Nava, Satleo Labs, Netrasemi, Vervesemi, EyeROV and Genrobotics.
In 2026, UIV launched the IITM Unicorn Frontier Fund I, a ₹1,000 crore SEBI-registered alternative investment fund established in strategic partnership with IIT Madras and IIT Madras Research Park. The fund’s first close of ₹450 crore marks a further step in the firm’s efforts to support deep-tech ventures.
The US expansion adds an international market-development component to that investment strategy. By building local relationships and an operator-investor network, UIV aims to help Indian startups navigate the requirements of entering the US market while connecting them with potential investors and technology partners.
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