Kerala Startup Mission (KSUM)-backed deep-tech startup Carbelim has secured ₹10 crore from the IIT Madras Unicorn Frontier Fund, becoming the first startup from Kerala to receive investment from the fund.
Union Finance Minister Nirmala Sitharaman and IIT Madras Director Prof. V. Kamakoti handed over the cheque to Carbelim representatives at a function in Bengaluru recently.
Founded by Dr Karthika Gopi and Rahul Babu, Carbelim develops microalgae-based carbon capture and air-purification systems. Its technology captures atmospheric carbon dioxide and converts it into oxygen. The climate-tech startup has filed 13 patents for its technology, including seven in the US and six in India.
Carbelim is among the first four deep-tech startups selected for funding from the Unicorn Frontier Fund. The investment is expected to support the company’s technology development and expansion.
CEO Dr Karthika Gopi said the company currently employs 42 people, including scientists and engineers. The fresh capital is expected to create more than 50 additional jobs and help the company achieve a turnover of ₹100 crore through international markets.
The company’s solutions include carbon capture systems, air purification technologies and Micro Algae Tree, or Liquid Tree, solutions designed for climate-positive cities and industries. Gopi credited Kerala Startup Mission for its support and guidance in helping the company reach this milestone.
KSUM CEO Anoop P. Ambika described the investment as a major recognition for Kerala’s deep-tech startup ecosystem. He said such funding could help growth-stage startups gain international visibility and support the development and scaling of innovative climate-tech solutions.
The Unicorn Frontier Fund was established by IIT Madras, IIT Madras Research Park and Unicorn India Ventures to support deep-tech startups in India. Announced in February with a target corpus of ₹1,000 crore, the fund raised ₹450 crore in its first phase. It has deployed nearly ₹55 crore across its first four startups, including Carbelim.
