About IIT Madras Research Park
With a presence in 2 countries, it has supported around 137 startups in sectors like High Tech, Enterprise Applications. As of Oct 2026, IIT Madras Research Park has 1 unicorn under its belt and has witnessed 3 portfolio exits. Most notable companies in
its portfolio include Ather Energy, MediBuddy and QNu Labs. The program primarily supports startups based in India and United States.
Key Metrics
Portfolio Companies
Sectors of Investment
Locations of Investment
Unicorn in Portfolio
IIT Madras Research Park's List of Top Investments
IIT Madras Research Park has a portfolio of 137 companies, one of which is a Unicorn. Their most notable investments include Ather Energy and MediBuddy.Their portfolio spans across India and United States. They have invested in High Tech, Enterprise Applications, Environment Tech and 31 other sectors. Here is the list of top investments by IIT Madras Research Park:
1. Ather Energy
Manufacturer of smart electric scooters with connected software, charging infrastructure, and ecosystem services. Its product lineup includes models like the Ather 450 series and Rizta, supported by a connected software platform that enables navigation, ride intelligence, diagnostics, and over-the-air updates. It operates an integrated EV ecosystem that includes fast-charging infrastructure, smart accessories such as connected helmets, and Battery-as-a-Service (BaaS) models that reduce upfront ownership costs. It also provides digital services like ride analytics, smart dashboard features, and charging network access to enhance user experience.
Key facts about Ather Energy
- Founded Year: 2013
- Location: Bengaluru (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2026
- Stage: Public
- Total Funding till date: $502M
- Employee Count: 1,917 as on Mar 31, 2026
- Investors: ADIA, HDFC Mutual Fund and 40 Others
- Latest Funding Round: Post IPO, Jul 21, 2026, $*****
- Highlight: Public

2. MediBuddy
Provider of health checks lab tests medicine and doctor consultations. This entity facilitates access to diagnostic laboratory testing and medical examinations. It enables the procurement of pharmaceutical products and provides digital platforms for remote medical professional consultations.
Key facts about MediBuddy
- Founded Year: 2013
- Location: Bengaluru (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $199M
- Employee Count: 1,783 as on Apr 30, 2026
- Investors: Quadria Capital, InvAscent and 70 Others
- Latest Funding Round: Series C, Jan 05, 2026, $*****
- Highlight: Acquired

3. QNu Labs
Provider of quantum cryptography solutions, key distribution, random number generation. It offers quantum key distribution for secure cryptographic keys and quantum random number generators. It provides post-quantum cryptography algorithms resistant to quantum attacks. It delivers quantum-safe virtual private networks, secure tunnels, and messaging services.
Key facts about QNu Labs
- Founded Year: 2016
- Location: Bengaluru (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $43.3M
- Employee Count: 118 as on Aug 31, 2025
- Investors: DSP Mutual Fund, Cisco and 103 Others
- Latest Funding Round: Series A, Sep 09, 2026, $*****
- Highlight: Editors' Pick
4. HyperVerge
Provider of end-to-end KYC software and identity verification solutions. The company offers a platform to launch onboarding journeys, while remaining compliant. It provides modules, APIs, a no-code workflow builder, analytics dashboard, and integrations marketplace. The company's services include identity verification, video KYC, OCR software, face authentication, and anti-money laundering. It also offers solutions for digital KYC stack, KYB/entity verification, financial data validation, onboarding face validations, AML, and digital signature.
Key facts about HyperVerge
- Founded Year: 2014
- Location: Bengaluru (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Stage: Seed
- Total Funding till date: $1M
- Employee Count: 389 as on Aug 31, 2026
- Investors: IKP Knowledge Park, Dallas Venture Capital and 6 Others
- Latest Funding Round: Seed, Aug 18, 2015, $*****
- Highlight: Editors' Pick
Developer of wearable technology offering health tracking and payment functionalities. The company provides smart rings and watches with features such as sleep monitoring, exercise metrics, and heart health tracking. These wearables also offer menstrual cycle tracking and secure payment options. The company aims to provide users with personalized insights and coaching to achieve their personal goals.
Key facts about Musewearables
- Founded Year: 2015
- Location: Bengaluru (India)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $5.18M
- Employee Count: 24 as on Jan 31, 2025
- Investors: Lead Angels, Keiretsu Forum and 80 Others
- Latest Funding Round: Angel, Aug 14, 2025, $*****
- Highlight: Editors' Pick
Unicorns in IIT Madras Research Park's Portfolio
IIT Madras Research Park has 1 unicorn in its portfolio - Uniphore. The most recent unicorn in their portfolio is Uniphore which became a unicorn in 2022, 4 years before IIT Madras Research Park first invested in it.Here is a list of unicorns in IIT Madras Research Park's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | Provider of a business artificial intelligence platform with agentic and model layers | 2008 | Palo Alto | Series F | kivutwp |
IPOs and Publicly Listed companies in IIT Madras Research Park's Portfolio
1 of IIT Madras Research Park's portfolio company became public - Ather Energy. It got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in May 2025 at marketcap of $1.42BHere are IIT Madras Research Park's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 06, 2025 | - | - | 2981 |
Acquired companies in IIT Madras Research Park's Portfolio
2 companies from IIT Madras Research Park's portfolio have been acquired. The most recent acquisition was GUVI in Sep 2022 by HCL for $*****.Here are IIT Madras Research Park's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 29, 2022 | - | - | 9751 | |
Jun 04, 2020 | - | - | 2449 |
