Unicorn India Ventures is building a US network to help Indian deep-tech startups move beyond funding and gain access to global markets, investors and industry partners.
Manisha Sharma23 Oct 2026
10:34IST
New Update
Unicorn India Ventures (UIV) has announced the launch of its US operations, appointing former Google executive Kishore Kanakamedala as Venture Partner to lead its international expansion.
The decision is intended to help Indian deep-tech startups enter the US market, develop relationships with investors and access technology ecosystems that could support their commercial growth.
The announcement comes shortly after UIV’s ₹1,000 crore IITM Unicorn Frontier Fund I reached its first close at ₹450 crore, with participation from US investors.
Beyond Funding, a Push for Market Access
Under the new arrangement, Kanakamedala will join UIV’s investment team and develop a network of operator-investors in the US.
The firm plans to build a team of mid-to-senior-level professionals who can connect its portfolio companies with relevant industry ecosystems, potential partners and investment opportunities.
For Indian deep-tech companies, international expansion can involve challenges that differ significantly from those faced by conventional software startups.
Businesses developing semiconductor technologies, robotics systems or space-related products often require extensive testing, technical validation and access to specialized industry networks before achieving commercial scale.
UIV wants its US operations to support this process, particularly by helping startups progress through different technology readiness levels (TRLs) and move closer to wider market adoption.
The firm’s strategy also includes developing co-investment relationships in the US, potentially giving its portfolio companies access to investors beyond their existing domestic networks.
However, UIV has not disclosed specific US customer partnerships, co-investment commitments or expansion targets associated with the announcement.
US Investor Interest Drives Expansion
The decision follows two major fundraising developments for UIV.
Earlier in 2026, the firm closed its third fund at ₹1,200 crore. More recently, the IITM Unicorn Frontier Fund I, established in strategic partnership with IIT Madras and IIT Madras Research Park, reached a first close of ₹450 crore within three months of receiving SEBI approval.
Both developments have strengthened the firm’s focus on deep-tech investment, while participation from US investors has created an opportunity to establish a more direct presence in that market.
Bhaskar Majumdar, Founder and Managing Partner, Unicorn India Ventures, linked the expansion to investor interest observed during its fundraising activities.
“Since we closed our third fund of Rs 1200 crore earlier this year, the US operations launch has been our next obvious step as during the capital raise of this fund, we saw the investors across the US showing significant interest to invest in Indian deep tech startups.”
The appointment signals UIV’s intention to turn that investor interest into longer-term relationships rather than rely solely on capital raised through its existing funds.
For deep-tech startups, such relationships could become relevant as they move beyond early development and begin seeking larger funding rounds or international customers.
Kishore Kanakamedala to Lead US Strategy
Kanakamedala’s role will extend beyond overseeing UIV’s presence in the US.
As Venture Partner, he will contribute to investment decisions, support portfolio companies entering international markets and help develop relationships with investors and technology businesses.
He will also act as a link between UIV’s India-based investment team and developments taking place across the US technology ecosystem.
Speaking about the opportunity, Kanakamedala said that growing support for product-based companies, government policies and access to risk capital were contributing to India’s emergence as a deep-tech investment market.
He also emphasized the importance of backing companies addressing significant technology problems and helping them establish a presence in the US.
The operational challenge will be converting these connections into meaningful opportunities for portfolio companies.
For example, a startup developing a semiconductor product may need technical validation and industry partnerships before it can secure large customers. A robotics company may require a different route involving product trials, deployment partners and commercial contracts.
This makes the ability to build sector-specific relationships particularly important. UIV’s planned operator-investor network is intended to support such requirements, although the firm has not provided a timeline for building the team.
A Growing Deep-Tech Portfolio
Founded in 2016 by Anil Joshi and Bhaskar Majumdar, Mumbai-based Unicorn India Ventures invests in early-stage companies developing products based on intellectual property.
The firm typically invests ₹10 crore to ₹25 crore per company and manages approximately $350 million across its funds.
It has backed 54 companies operating in sectors including semiconductors, space, defense, healthcare, robotics and agritech.
Its portfolio includes TakeMe2Space, Orbitaid, Satleo Labs, Netrasemi, Vervesemi, EyeROV and Genrobotics, among others.
These sectors have different technology development cycles and capital requirements, making the journey from initial investment to commercial growth particularly important.
The IITM Unicorn Frontier Fund I adds another dimension to this strategy by combining venture capital with access to India’s research and technology development ecosystem.
The US expansion is intended to complement those domestic capabilities with international networks and market connections.
The Challenge Ahead
Indian venture capital firms are looking beyond funding announcements to understand how deep-tech startups can build sustainable businesses.
Access to overseas investors may help companies secure additional capital. Yet international growth will ultimately depend on whether their technologies can attract customers, meet market requirements and generate commercial demand.
For UIV, the immediate task is building a credible US network that can support its portfolio across these different stages.
The firm’s new operations could provide Indian founders with closer access to investors and industry ecosystems, but the value of that presence will become clearer through actual partnerships, customer relationships and follow-on investments.
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