5 min
Deep-tech venture capital firm Unicorn India Ventures (UIV) has launched operations in the US, appointing former Google executive Kishore Kanakamedala as Venture Partner to lead the expansion. The move aims to help Indian deep-tech startups access US markets, investors and technology ecosystems.
The announcement comes shortly after UIV announced the first close of the IITM Unicorn Frontier Fund I at ₹450 crore, within three months of receiving SEBI approval. The firm said it saw significant interest from US investors in Indian deep-tech startups while raising its third fund, which closed at ₹1,200 crore earlier this year.
Bhaskar Majumdar, Founder and Managing Partner of Unicorn India Ventures, said launching US operations was the natural next step after closing its ₹1,200 crore third fund, driven by strong interest from US investors in Indian deep-tech startups.
UIV plans to build a team of mid-to-senior-level operator-investors in the US. They will develop local ecosystems to help portfolio companies establish a presence in the country, while building a broader investor base for Indian deep-tech businesses.
The US operations will also focus on promoting India's deep-tech growth story and creating an active co-investment ecosystem. UIV said the expansion would help founders accelerate their scale-up and technology readiness level (TRL) journeys, while keeping its India-based investment team informed about developments in global technology markets.
Kanakamedala said the opportunity to work with UIV came as India emerged as a deep-tech hub, supported by product-based companies, government policies, and increasing access to risk capital.
Kanakamedala outlined his mandate as Venture Partner: to back creators solving high-impact deep-tech challenges, assist portfolio startups in expanding into the US market, grow the investor base, and stay ahead of global technology developments to support the India-based investment team.
Founded in 2016, Mumbai-based UIV invests in early-stage Indian deep-tech companies developing products based on strong intellectual property, with typical cheque sizes of ₹10 crore to ₹25 crore.
The firm manages about $350 million across its funds and has backed 54 companies in semiconductors, space, defence, healthcare, robotics, and agritech. Its portfolio includes TakeMe2Space, Netrasemi, Genrobotics, EyeROV and Satleo Labs.
In 2026, UIV launched the ₹1,000-crore IITM Unicorn Frontier Fund I in strategic partnership with IIT Madras and IIT Madras Research Park.