Nanosniff Technologies, an IIT Bombay incubated company has raised Rs 2 crores ($300K) from 1Crowd and its investor community as part of a broader funding plan. Nanosniff is a deep technology company working on high impact offerings in MEMS domain with applications in healthcare and security markets. It had previously raised an undisclosed amount from a group of angel investors.
Talking about the investment, Mr. Anil Gudibande, co-founder of 1Crowd said, “The ecosystem at 1Crowd allows our community of angel investors to participate and co-invest with us in early stage start-ups and benefit from our institutional approach to the entire process, right from origination to evaluation, due diligence and most importantly post-investment monitoring and mentoring. We seek start-ups which are at the cusp of knowledge and technology. Nanosniff is an exemplary case where genuine IP has been created from robust R&D to address healthcare and security markets.”
Founded by alumni and professors from IIT Bombay and IIT Delhi, Nanosniff is a commercial spin-off from the Centre of Excellence in Nanoelectronics (CEN) at IIT Bombay and was formed to commercialize products from technologies developed during research work conducted at CEN. It has filed multiple patents in MEMS sensor technologies and commercialized products using these technologies that have applications in detection of industrial hazards, security and surveillance systems and point of care medical diagnostic devices.
1Crowd which has around 300 investor members as part of its ecosystem, has previously invested in five start-ups and is also engaged with five startups through its incubation and acceleration programs. Nanosniff would be able to leverage 1Crowd’s ecosystem of mentors, industry connects and investor community to benefit from strategic and operational support during the subsequent phases of its evolution.