New fund

IIT Madras and Unicorn India launch deeptech fund

By Startup Enthusiast · 6 February 2026

What they do

IIT Madras Research Park and Unicorn launched IITM Unicorn Frontier Fund I with a ₹600 crore base and a ₹400 crore extra-allocation option

It aims to back over 25 engineering-heavy startups in robotics, spacetech, defence, semiconductors and medtech, with first cheques of ₹8–10 crore

Early bets target technology readiness levels 3–4, while part of the money goes to later-stage firms with proven products at levels 7–9

IIT Madras Research Park and Unicorn India Ventures launched the IITM Unicorn Frontier Fund I.
The base corpus is ₹600 crore, with a ₹400 crore greenshoe option.
It plans over 25 IP-led startups in robotics, spacetech, defence, semiconductors and medtech.
The first cheque averages ₹8–10 crore.
IIT Madras is home to over 525 startups valued above $6 billion.