To further strengthen the innovation ecosystem and accelerate the growth journey for the startups, IIT Madras Research Park has selected Unicorn India Ventures as the Fund Manager for the DeepTech Fund.
With an average first investment size of Rs 8-10 crore, the investment strategy will follow a dual stage approach. The fund will be used to invest in early-stage deep tech startups that have reached Technology Readiness Level (TRL) 3– 4 with an aim to identify high-potential innovations to nurture them through the initial commercialization hurdles. To ensure that portfolio companies are not capital starved as deep tech is a long gestation investment business, the fund will also support them with capital at early mid stage where they have reached TRL 5 – 7 to accelerate the development of concept proven technologies.
The Fund will look to build a portfolio of 25+ companies in IP-led, engineering heavy startups in sectors like Robotics, SpaceTech, DefTech, Semicon, MedTech, etc. that align with national strategic interests.
A part of the corpus would be assigned to select early late-stage companies that reach TRL 7 – 9 with a proven product tech and need support with accelerated scale up and market penetration.
“Science and technology will play a crucial role in the growth story and towards India becoming Viksit Bharat 2047, focusing on technology sovereignty, AI, semiconductors, defencetech and quantum technology. The need of the hour to reduce reliance on technology imports and strengthen indigenous capabilities. IIT Madras has been in forefront of this wave for over a decade and this Fund is the next logical step for us,” Kamakoti Veezhinathan, Director of IIT Madras, said.
“India’s deep-tech ecosystem is at a pivotal moment, driven by supportive policies, sustained R&D investments, and a strong entrepreneurial aspiration among our youth. This fund will accelerate the scale-up of mission-driven, globally competitive startups while strengthening India’s culture of innovation & entrepreneurship. We are pleased to partner with Unicorn India Ventures to advance India’s deep-tech leadership—imagining, designing, and building in India for the world,” Natarajan Malupillai, Group CEO of IITM Research Park, said.
