Unicorn India Ventures Opens a US Office Under Former Google Executive to Take Indian Deeptech Startups Global

Unicorn India Ventures, one of India's most active early-stage investors in deeptech, has opened operations in the United States, as Indian venture firms look for ways to help their portfolio companies compete globally and tap international capital.

The Mumbai-based firm announced on Thursday, October 22, that former Google executive Kishore Kanakamedala had joined as a venture partner to lead its US operations, Business Standard reported.

Kanakamedala's mandate includes building a team of mid- to senior-level professionals in the US, developing networks that can help portfolio companies expanding there, promoting the Indian deeptech growth story and building a US investor base for the firm.

"The time to invest in deeptech in India is now more than ever," Kanakamedala said. Bhaskar Majumdar, founder and managing partner, said "the US operations launch has been our next obvious step."

A deeptech specialist

Unicorn India Ventures invests in Indian deeptech companies with strong intellectual property. It manages about $350 million across its funds and closed its third fund at ₹1,200 crore earlier in 2026, according to Majumdar. Its typical cheques range from ₹10 crore to ₹25 crore.

The firm has backed 54 companies across semiconductors, space, defence, health, robotics and agritech. Its portfolio includes Open Bank, Olyv, TakeMe2Space, Orbitaid, Nava, Satleo Labs, Netrasemi, Vervesemi, EyeROV and Genrobotics.

In 2026, it also launched the IITM Unicorn Frontier Fund I, a ₹1,000 crore alternative investment fund registered with the Securities and Exchange Board of India, set up with IIT Madras and the IITM Research Park. The fund is designed to back startups emerging from one of India's leading research institutions.

Why the US matters

For Indian deeptech startups, the United States is often the most important market for customers, partners and capital. American companies and government agencies are among the largest buyers of advanced technology, from semiconductors and space systems to defence equipment and robotics. The US also has the deepest pool of venture capital and growth investors familiar with deeptech.

Many Indian deeptech companies need to expand internationally to reach scale, since domestic demand in some sectors remains limited. Having an investor with a physical presence and networks in the US can help startups find customers, hire talent and raise follow-on funding.

For Unicorn India Ventures itself, a US presence could help attract limited partners, including diaspora investors and institutions interested in exposure to India's technology sector.

India's deeptech moment

Indian deeptech has gained momentum in recent years, supported by government initiatives, rising investor interest and a growing pool of experienced founders. The government has launched programmes to support semiconductors, space and defence manufacturing, opening sectors that were once dominated by state entities to private companies.

Space has been a particularly active area, with startups building satellites, launch vehicles and space-based services after the government liberalised the sector. Semiconductor design startups have emerged as India seeks to build a domestic chip ecosystem, backed by incentives under the India Semiconductor Mission. Defence startups have benefited from government efforts to increase domestic procurement.

The funding challenge

Deeptech companies typically require longer development timelines and more capital than software startups before generating revenue. That makes them harder to fund, especially in India, where the venture ecosystem has historically focused on consumer internet and software businesses.

Specialist investors like Unicorn India Ventures play a crucial role in filling that gap. The government has also stepped in with funds and schemes to support deeptech, including a Fund of Funds approach and research-linked initiatives.

Global capital is important for later-stage deeptech companies, which often need larger rounds than Indian investors alone can provide.

Strengthening India-US technology ties

The move comes amid deepening technology cooperation between India and the United States, including initiatives on critical and emerging technologies such as semiconductors, AI, space and defence. Both governments have encouraged collaboration between their startups, universities and companies.

At the same time, India-US relations face strains over trade, though leaders on both sides say a trade agreement is close. Investors see technology partnerships as a durable foundation for economic ties.

What it means for the Indian diaspora

The Indian diaspora in the United States, particularly in Silicon Valley, includes many technology executives, entrepreneurs and investors. Kanakamedala's appointment reflects how Indian venture firms are tapping this network to support their portfolio companies and raise capital.

Diaspora professionals can act as mentors, advisers, customers and investors, helping Indian startups navigate the US market.

The rise of Indian deeptech funds

A growing number of Indian venture firms now specialise in deeptech. Alongside Unicorn India Ventures, firms such as Speciale Invest, Ideaspring Capital, Endiya Partners and others focus on science and engineering-led startups. Larger generalist funds have also launched deeptech practices, and corporate venture arms have become more active.

Government initiatives have supported this growth. The Fund of Funds for Startups, managed by SIDBI, invests in alternative investment funds that back startups, and the government has announced plans for dedicated support to deeptech, including research, development and innovation funding aimed at encouraging private investment in frontier technologies.

Partnerships with academic institutions, like the IITM Unicorn Frontier Fund, are another emerging model. India's leading technology institutes have become significant sources of deeptech startups, with incubators and research parks supporting founders as they commercialise research.

Exits and returns

For deeptech investors, demonstrating returns is crucial to raising future funds. Exits in deeptech can take longer than in consumer or software businesses, and the Indian IPO market has only recently begun to list companies in sectors like space and defence. Recent listings of defence and electronics manufacturing companies have attracted strong investor interest, which could support future exits.

What comes next

Unicorn India Ventures will now build its US team and begin connecting portfolio companies with American partners. Its success will be measured by how many of its startups gain traction in the US and whether it can attract new investors.

For India's deeptech ecosystem, the move signals growing ambition: Indian startups are increasingly looking to build globally competitive technology companies, not just serve the domestic market. If the US expansion works, it could become a template for other Indian venture firms seeking to build bridges between India's deeptech startups and global markets, and to bring more international capital into the country's innovation economy. That ambition is likely to define the next phase of growth for the firm and its portfolio companies.