IIT Madras, Unicorn India Ventures Mark First Close Of Fund I At ₹450 Cr
IIT Madras, IIT Madras Research Park (IITMRP), and Unicorn India Ventures have announced the first close of their deeptech-focused IITM Unicorn Frontier Fund I at ₹450 Cr (about $46.9 Mn). The fund has already deployed nearly ₹55 Cr across four startups, including Hathor, Quanastra, Triolt Energy, and Carbelim. The fund, managed by Unicorn India Ventures, aims to build a portfolio of 25 startups, with cheque sizes ranging from ₹15 Cr to ₹25 Cr.
Its six focus areas are defence tech, spacetech, semiconductors, manufacturing technology, robotics, and automation, AI infrastructure and GenAI, and healthtech.
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