Mumbai, October 22, 2026: Unicorn India Ventures (UIV), the Mumbai-based deep-tech venture capital firm, has announced the launch of its US operations and appointed former Google executive Kishore Kanakamedala as Venture Partner to lead its American expansion.
The move is aimed at creating a stronger bridge between India and the United States for UIV’s portfolio companies, particularly deep-tech startups seeking to establish a presence in the US market. Under Kanakamedala’s leadership, the firm plans to build a team of operator-investors in the US, support portfolio companies with market entry, expand its investor base, and promote India’s growing deep-tech ecosystem globally.
The announcement follows the recent first close of the IIT Madras-Unicorn Frontier Fund I at ₹450 crore, which attracted substantial participation from US-based investors.
Building an India-US Deep-Tech Corridor
As Venture Partner, Kishore Kanakamedala will become an integral member of Unicorn India Ventures’ investment team. He will focus on building a network of mid-to-senior-level professionals in the US, developing ecosystems that support portfolio companies expanding internationally, building an investor community for Indian deep-tech startups, and bringing global insights back to the firm’s India-based investment team.
The launch of US operations represents a strategic expansion for UIV as it seeks to establish an active co-investment ecosystem and remain closely connected to emerging global technology trends. The initiative is designed to help deep-tech founders accelerate both their scaling journey and technology readiness levels (TRLs).
Bhaskar Majumdar, Founder and Managing Partner, Unicorn India Ventures, said: “Since we closed our third fund of ₹1,200 crore earlier this year, launching US operations was the next logical step. During the capital raise process, we witnessed significant interest from investors across the United States in Indian deep-tech startups. With the rapid first close of the IITM Unicorn Frontier Fund I, bringing on board a seasoned executive like Kishore was a natural progression. I have known Kishore for several years, and he has previously been an investor in Unicorn funds. I am extremely excited to welcome him to the Unicorn family.”
Kishore Kanakamedala, Venture Partner, Unicorn India Ventures, said: “I have been closely observing the growth of Unicorn India Ventures for several years. Although I was in retirement for part of that time, this opportunity was difficult to pass up because there has never been a better time to invest in India’s deep-tech sector. We are now seeing product-led companies emerging from India, a supportive government policy environment, the government becoming a buyer where appropriate, and increasing availability of risk capital. These are all indicators that India is rapidly emerging as a global deep-tech hub driven by frugal innovation.
My mandate is clear: invest in founders solving significant deep-tech challenges, help portfolio companies expand into the US, strengthen the investor base, and serve as a conduit for global technology developments that can enhance the knowledge and capabilities of our India-based investment team.”
Growing Interest in Indian Deep-Tech
The US expansion comes at a time when global investor interest in Indian deep-tech innovation continues to rise. Unicorn India Ventures recently announced the first close of IITM Unicorn Frontier Fund I, a ₹1,000 crore SEBI-registered Alternative Investment Fund (AIF) established in partnership with IIT Madras and IITM Research Park. The fund reached a first close of ₹450 crore within three months of receiving SEBI approval.
About Unicorn India Ventures
Unicorn India Ventures (UIV) is an early-stage venture capital firm headquartered in Mumbai that invests in Indian deep-tech companies developing products backed by strong intellectual property. The firm typically invests between ₹10 crore and ₹25 crore per company.
UIV manages approximately $350 million across its funds and has invested in 54 companies spanning sectors such as semiconductors, space, defence, healthcare, robotics, and agritech.
Its portfolio includes companies such as:
- Open Bank
- Olyv
- TakeMe2Space
- Orbitaid
- Nava
- Satleo Labs
- Netrasemi
- Vervesemi
- EyeROV
- Genrobotics
and others.
The firm was founded in 2016 by Anil Joshi and Bhaskar Majumdar.
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