Thiruvananthapuram | KSUM-backed deep-tech startup Carbelim has secured a Rs 10 crore investment from the IIT Madras Unicorn Frontier Fund, becoming the first startup from the state to receive it.
Union Finance Minister Nirmala Sitharaman, along with IIT Madras Director V Kamakoti, handed over the cheque to Carbelim representatives at a function in Bengaluru recently, according to an official statement on Thursday.
Founded by Dr Karthika Gopi and Rahul Babu, Carbelim develops microalgae-based bio-integrated carbon capture and air-purification systems that draw down atmospheric carbon dioxide and convert it into oxygen.
The company has filed 13 patents for its technology, including seven in the US and six in India, it said.
Carbelim CEO Karthika Gopi said the investment was expected to create over 50 additional jobs and help the company achieve a turnover of Rs 100 crore through international markets. The company currently employs 42 people, including scientists and engineers.
Kerala Startup Mission (KSUM) CEO Anoop P Ambika described the investment as a major recognition for the state's deep-tech startup sector, saying it would help growth-stage companies gain international recognition and encourage innovation in climate technology.
The Unicorn Frontier Fund, raised by IIT Madras, IIT Madras Research Park and Unicorn India Ventures, was announced in February with a target corpus of Rs 1,000 crore. It raised Rs 450 crore in its first phase and has so far deployed nearly Rs 55 crore across four startups, including Carbelim, the statement added.
