In the 2nd World Telugu Writers Conference, held in Vijayawada last week, Ambarisha of Aditya Fonts announced a free Telugu Unicode font called Ramaneeya. And, it has been launched on stage. I got a copy of that font. Here is a sample of that font:
Though Ramaneeya font looks like the open source Lohit Telugu font, it has its own distinct style and other improvements.