"Fundraising is tortuous": Nat Malupillai on how IIT Madras’ new fund gives founders room to breathe
IIT Madras Research Park has teamed up with Unicorn India Ventures to launch the IITM Unicorn Frontier Fund I—a Rs 1,000-crore venture capital vehicle built to give early-stage deep-tech founders room to breathe. Backed by global IIT Madras alumni, financial institutions, and family offices, the fund has already hit its first close of Rs 450 crore and committed nearly Rs 55 crore across its first wave of startups, including Hathor, Quanstra, Triolt Energy, and Carbelim.
Via YourStory
Hathor develops semi-cryogenic and cryogenic rocket engines; Quantum Technology specialises in single-photon detection; Triolt Energy advances battery and energy storage solutions; and Carbelim leads efforts in carbon capture.
The fund targets IP-heavy, early-stage (TRL 3–4) startups working across semiconductors, spacetech, EVs, battery materials, quantum tech, robotics, AI, biotech, and healthtech—sectors critical to building India’s technological sovereignty.
In an exclusive interview with YourStory, Natarajan (Nat) Malupillai, Group CEO of IIT Madras Research Park, breaks down why fundraising distraction is killing promising…
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