Nanotechnology Startup Vimano Raises ₹ 25 Crore Led by Ankur Capital

Nanotechnology and advanced materials startup Vimano has raised INR 25 crore in its seed round, led by Ankur Capital. This marks Ankur Capital’s first investment out of its newly launched third fund. The funding will support Vimano’s mission to power the energy transition, with its membranes serving as key backbones for redox flow batteries, electrolyzers for green hydrogen production, as well as PEM fuel cells.

While the global energy transition is firmly under way powered by ever reducing cost of solar energy, key technological issues remain, some of the most important being the high cost of producing green hydrogen and the lack of cost effective long-duration energy storage (LDES) options. These gaps are major impediments to the decarbonization of heavy manufacturing industries and a move towards a fully renewables-powered grid.

Founded in 2019 by materials scientists Murari Ramkumar (CEO) and Dr. Nagesh Kini (CTO), Vimano was built on the belief that cutting-edge materials can unlock a new era of energy storage. Its tunable ion-conductive membrane platform has led to the development of membranes that significantly lower the cost of electrolyzers, which are used in green hydrogen production and other LDES systems. Over the past five years of research, Vimano has solved the significant problem of increasing the conductivity and performance of membranes while maintaining high efficiency, low crossover and long life.

The investment will enable Vimano to initiate pilot projects with strategic partners in the energy ecosystem, expand its team and establish a scalable manufacturing process for its membranes.

Murari Ramkumar, CEO of Vimano, said, “At Vimano, we believe that membrane electrolytes are the unsung heroes of the energy transition. Over the past five years, we have worked relentlessly to develop a platform that can significantly improve efficiency and reduce costs for long-duration energy storage and green hydrogen production. This investment will enable us to accelerate our commercialization efforts and bring our high-performance membranes to market at scale. We’re thrilled to have Ankur Capital backing us as we take the next big leap.”

Ritu Verma, Managing Partner at Ankur Capital, added, “We are excited to partner with Vimano as they hit a crucial inflection point. Their groundbreaking work in nanotechnology aligns perfectly with our commitment to backing deep science innovations that tackle pressing global issues like the energy transition. We believe Vimano’s membranes can reshape how energy is stored across multiple formats — with green hydrogen alone projected to grow nearly 10X to over $60B by 2030.”

About Vimano

Vimano is a nanotechnology startup focused on transforming energy systems through advanced membrane technology. By enhancing how energy is stored, converted, and deployed, Vimano is committed to accelerating the global shift to sustainable energy. https://www.vimano.biz/

About Ankur Capital

Founded in 2014, Ankur Capital is an early-stage venture capital firm in India, investing in digital and deep science technology companies. Ankur Capital has backed over 30 companies across sectors including category leaders such as Captain Fresh (B2B commerce), Vegrow ( B2B commerce), StringBio ( Synthetic biology), OffGrid Energy (Battery Chemistry), Agrizy (B2B commerce), Superfone (Neo-telco) and Niramai (AI Medtech) among others. The firm has offices in Mumbai, Delhi and Bangalore. More at www.ankurcapital.com

Nanotechnology-based Daily Wear Startup Turms Raises ₹6 Cr from Freshworks Founder, Others

Bangalore based apparel brand Turms, which manufactures stain repellent and odour resistant clothing via nanotechnology application, has raised ₹6.3 crore (~ US$855,000) from in angel round of funding led by Freshworks founder Girish Mathrubootham, former Reliance Retail Lifestyle president Bijou Kurien, Pepperfry founder Ambareesh Murty, OneAssist founder Subrat Pani, and former Flipkart executive Mekin Maheshwari along with angels from LetsVenture & AngelList India.

Other angel investors who participated in the round include Sumit Jain, co-founder Opentalk, Apollo Hospitals Group CFO Krishnan Akhileswaran, former CFO of Voonik & Myntra Prabhakar Sunder and Amit Lakhotia, formerly with Tokopedia & Paytm.

The startup will utilize these funds to expand its range, hire tech talent, launch experience centres in top cities, and further invest in research and development.

“Young brands like Turms are disrupting the apparel industry and creating a niche market for themselves with their unique offering of intelligent apparel,” said Freshworks founder Mathrubootham.

Turms is Girish's 21st investment so far. To date, he has made 21 investments in startups across different verticals. His last investment before Turms was Chennai-based Pando, which digitizes logistics operations for Fortune 500 companies, in April this year.

Turms was founded in 2016 by Indian Institute of Management (IIM), Shillong alumni Rameswar Misra and Rohit Gupta. Misra had earlier worked at online women apparel store Voonik, while Gupta is a nanotechnology graduate from Amity University.

Unlike other stain repellent clothing available in market, which are made with petroleum-based synthetic materials (nylon, polyester, etc.), Turms apparel however are crafted with 100% natural premium cotton without any synthetics or nanoparticles.

The startup has its patent-pending technology that allows to create natural fabrics and clothing that repel stains, liquids and odors, and have them retain the natural feel, soft touch, and breathability. Turms apparel does not need to be washed as frequently as normal clothing and requires less water and detergent. The range includes jeans, t-shirts, shirts and track pants for men and t-shirts and leggings for women.

“We believe that the world is moving towards functional and low maintenance apparel that can simplify our daily lives. Turms is committed to pioneering that revolution and habit formation in Indian consumers,” said Rameswar Misra, CEO and co-founder Turms.

Source - Business Standard

Nanotechnology-based Daily Wear Startup Turms Raises ₹6 Cr from Freshworks Founder, Others

Bangalore based apparel brand Turms, which manufactures stain repellent and odour resistant clothing via nanotechnology application, has raised ₹6.3 crore (~ US$855,000) from in angel round of funding led by Freshworks founder Girish Mathrubootham, former Reliance Retail Lifestyle president Bijou Kurien, Pepperfry founder Ambareesh Murty, OneAssist founder Subrat Pani, and former Flipkart executive Mekin Maheshwari along with angels from LetsVenture & AngelList India.

Other angel investors who participated in the round include Sumit Jain, co-founder Opentalk, Apollo Hospitals Group CFO Krishnan Akhileswaran, former CFO of Voonik & Myntra Prabhakar Sunder and Amit Lakhotia, formerly with Tokopedia & Paytm.

The startup will utilize these funds to expand its range, hire tech talent, launch experience centres in top cities, and further invest in research and development.

“Young brands like Turms are disrupting the apparel industry and creating a niche market for themselves with their unique offering of intelligent apparel,” said Freshworks founder Mathrubootham.

Turms is Girish's 21st investment so far. To date, he has made 21 investments in startups across different verticals. His last investment before Turms was Chennai-based Pando, which digitizes logistics operations for Fortune 500 companies, in April this year.

Turms was founded in 2016 by Indian Institute of Management (IIM), Shillong alumni Rameswar Misra and Rohit Gupta. Misra had earlier worked at online women apparel store Voonik, while Gupta is a nanotechnology graduate from Amity University.

Unlike other stain repellent clothing available in market, which are made with petroleum-based synthetic materials (nylon, polyester, etc.), Turms apparel however are crafted with 100% natural premium cotton without any synthetics or nanoparticles.

The startup has its patent-pending technology that allows to create natural fabrics and clothing that repel stains, liquids and odors, and have them retain the natural feel, soft touch, and breathability. Turms apparel does not need to be washed as frequently as normal clothing and requires less water and detergent. The range includes jeans, t-shirts, shirts and track pants for men and t-shirts and leggings for women.

“We believe that the world is moving towards functional and low maintenance apparel that can simplify our daily lives. Turms is committed to pioneering that revolution and habit formation in Indian consumers,” said Rameswar Misra, CEO and co-founder Turms.

Source - Business Standard

Nanotechnology Startup Log 9 Raises Pre Series A Funding from Delhi Based VC firm, GEMs

A unique idea in the Nanotechnology domain, Log 9 Materials has raised an undisclosed amount in a pre-series-A funding from GEMs, a Delhi based Venture Capital firm. Incubated at the TIDES Incubation Centre of IIT Roorkee in November, 2015, Log 9 Materials develops scientifically proven technologies from the lab into commercially viable end products for industrial production. Their research team has a deep understanding of consumer needs and is continuously developing solutions in the form of life changing and eco-friendly products.

The industry is all set to witness the Fourth Industrial revolution and is expected to draw some or all of innovations like nanotechnology, wonder materials like Graphene along with 3D printing, robotics, artificial intelligence, biotechnology, IoT and advanced energy etc. Batting on the advantage of being one of the early innovators to develop Graphene nanotechnology products, the founder Akshay V. Singhal (Founder & CEO) along with his team Kartik Hajela(VP Business Development) and Vivek Kumar (VP Accounts & Legal) is bent upon creating commercial nanotech products/technologies which can either be launched as a B2C product or licensed out to corporates and generate revenue.

Akshay has always been driven by research which can be replicated in a product form and has immediate application for consumers. While at a research internship at University of Alberta, Canada he developed an understanding of how to execute and develop such solutions in the Indian market. Building on this, he created Log 9 Materials.

Today, the startup has a product PPuF, a graphene based filter attachable to all cigarettes reducing the toxic chemicals in cigarette smoke by 50% without affecting the user experience of a smoker. PPuF is available at cigarette vendors in Delhi-NCR and has witnessed monthly sales of over 10000 pcs via offline and online channels. Apart from filtration the team has also carried out preliminary work on various protective coatings and Graphene Quantum Dot based LED displays.

Commenting on the funding, Aditya Gupta, Managing Partner GEMs said, “Our focus has always been about encouraging technological innovations. We see great potential in Log 9 Materials and the way it is developing proven nano-technology into commercial products. The start-up has a smart business strategy of licensing IPR or manufacture and retail its products. It is certain to become a window to the future businesses and we are happy to be instrumental in their progressive journey.”

“We see a huge market for Graphene customer base, with product innovations like non-electric water purification systems, Industrial effluent treatment, Air filtration and purification products, energy efficient room heaters, and graphene for LED and bio-diagnostic applications. Log 9 currently holds 2 patents in graphene synthesis and graphene products. We estimate to license out 2 technologies within this year earning a total profit of more than $2 Million. We are extensively working in clean air and water, energy efficiency, and coatings domain with a plan to touch all domains within 5 years.” said, Akshay Singhal, Founder & CEO of Log 9 Materials.

With a team of over 10 individuals with expertise in Nanotechnology R&D, the start-up is functioning from the new HeadQuarters and R&D Centre in North Bangalore.

PPuF: Log 9’s first product is a graphene based filter attachable to all cigarettes reducing the toxic chemicals in cigarette smoke by 50% without affecting the user experience of a smoker. The patent pending product PPuF reduces the risk of smoking for over 1 billion smokers worldwide. PPuF reduces the tar content, heavy metal content as well as other carcinogenic constituents from tobacco smoke, thus reducing the risk of cancer and other pulmonary disorders arising due to smoking. PPuF is a highly cost-effective, efficient and flexible technology which can be used as a plug on filter to any cigarette or also as a replacement to the existing fiber filters conventionally used in cigarettes.

The Rise and Fall of Nanotech Industry and Why No Body Is Talking About It

Is Nanotechnology sector outperforming like other sectors? Is government offering a right amount of funds for research and development? Where had Nanotechnology startups gone? What is scope for nanotechnology startups in India? Who is a good option for entrepreneurs for quicker and reliable funding support? Let’s take a look where this industry is leading!

Nanotechnology is India’s one of the most promising industries as it carries high potential all along having a great importance in research work. It has wide applications and several national and international companies like the Tata Group, Reliance Industries, Mahindra & Mahindra and Intel etc. are investing in it. A number of startup companies are also working on how to apply it in the multidisciplinary domains like electronics, biotechnology, electronics, communication, food, energy, computer science and others. Many of them are using this technology to improve their traditional products portfolio to compete with market challenges and ensure rapid growth by boosting the sales.

A Gist of Nanotechnology

Well, Nanotechnology is changing the world and lifestyle! It is the science of small particles which are less than 100 nm in size. It involves in the engineering of functional systems at the nano level and expected to influence a wide range of products and processes which will influence the national development and economic growth in the future.

Few Initiatives Supporting Nano Technology

A few years back this segment was expected to be huge as it directly give impact on socio economic growth and social environment. In 2007, the Indian Government has launched a mission on Nano Science & Technology called Nano Mission and allocated Rs. 1000 crore under the 11th Five Year Plan to promote nanotechnology in India. To continue with same mission the Union Cabinet allocated Rs. 650 crore in the Nano Mission Phase-II during the 12th Five Year Plan in 2012 (2012-2017). The Nano Mission works under the Department of Science and Technology to promote collaborative efforts taking along institutions, scientists, and industry players. The Nano mission also claims to make many other efforts to produce application oriented products. This mission supported India to get entry in the list of the top five nations in terms of nano technology publications. It has also produced more than 900 Ph.Ds, 5000 research papers and a huge range of useful products for various industries over the years. It is helping to establish a good ecosystem in the country to pursue nano technology research. The Indian government has initiated different programme under this mission but somehow nanotechnology failed to catch attention in a big way.

Why Nanotechnology Is Falling Down?

Despite the fact that "Nano Mission" has financed many projects over the time, it had never lead to hopeful results. Actually, all the taken steps are not sufficient or are just few drops in the ocean.

Bangalore based NoPo’s founder, Gadhadar Reddy (http://nopo.in/web/) gave an interesting outline of nanotechnology sector. He said, “Nanotechnology innovations have a bright future as it is gaining interest fast. However there is an increasing number of research papers but practical applications are limited.” He also raised a concern, “Government funding has mostly been controlled and cornered by a few researchers and bureaucrats. Whereas global investors are not yet forthcoming as there are no true nanotech products in India. On the other hand, Indian investors are least interested to invest in the development of technology.” Reddy, Founded NoPo with a group of experts including Changalaray Reddy, Chairman & Director, NoPo and Dr. Robert Kelly Bradley , Director of Technology, NoPo in 2011. The company is producing a high-quality Single Walled Carbon Nanotubes in large quantity.

“Nanotechnology” searches on Google have also trended down over the time. However, people are searching continuously all those products and technologies which are benefiting by nanotechnology and are better alternatives for many things. Clearly, it needs to do much more—and also provide long-term fiscal and other incentives—if India is to realize its potential in this breakthrough science.

Challenges for Nanotech Companies

Nanotechnology can contribute to strengthen the Indian Economy. It offers a wide range of employment opportunities to youths and scientists. However there are some key hurdles in the ways of startups/companies that are serving in this segment. Vivek Gupta who founded Nanoshel (https://www.nanoshel.com) in March 2007 with Bio Nano conjugation projects for targeted drug delivery applications said, “As per my experience, Nanotech industry is at a very nascent stage in India. It will take another 10 years to grow because of many reasons.” His company is specialized in developing the nano drugs for Cancer, Aids, Malaria, and Typhoid etc. People are not very receptive for this technology. According to him, “There is lack of understanding and unwilling to change the products with new technology. Indians are not willing to change and understand the usage and benefits of nanotechnology."He feels disappointed at times because as there is lack of adequate support from the Government and investors as regards to promotion of nanotech industry and it makes really difficult for nanotech startups to survive in India for a long time period.

Reddy added, “The field has an inherent high barrier to entry. For example: The most basic tool required for any nanotech startup is an Electron MIcroscope. They cost between $500, 000 - $10 Million, are not developed in India, require extensive support and trained operators. So, startups are forced to use private labs which take time for results thus reducing scope for rapid development. An access to low cost instrumentation is essential for rapid development of the field all over the world.” Most of the startups don’t know where to use this technology and what to do to create demand and increase their products performance. Reddy said that electronics in the only sector where nanotech is making an impact in a big way. India does not have fabs nor any strength in advanced electronics at this time. This is where Nanotech will head in the next decade. The industry will go a long way in putting resources to achieve specific goals. Reddy added, “Nanotechnology is currently being pursued by private individuals and nano products will have a huge scope everywhere in the future."

Some Companies Supporting the Future of Nano Technology

Although nanotechnology startups are not much visible but there are some who are doing really good all along helping many older industries by providing inventions. Few names in this category include Velbionanotech, Nanoshel, Micromaterials Private Limited, Nanobio chemicals, Yashnanotech and lots more.

Velbionanotech is using nanotechnology in designing drugs for various diseases such as heart problems, kidney stones, AIDS, cancer etc.. It uses Nanochips and nano particles for drug development and delivering them into human body. It is also designing bionano products with traditional machinery. It was established in March 2002 to promote R&D in nanotechnology and biotechnology segment worldwide by making use of proven latest throughput technologies. Nanoshel has a research center in Haryana by the name the Intelligent Materials Private Limited where it is producing more than 50 types of nano products including metal, carbon nanotubes, oxides and allied nanoparticles etc.

Bangalore-based Micromaterials Private Limited is involved in the production of nano particles for different applications. Mumabi based Nanobio Chemicals is experimenting in the production of Nano science education kits, nanocomposites, iron oxide nano-particles, nano-chains and antimicrobial products etc for promoting health and hygiene. Another Mumbai based startup Yashnanotech is offering nanotechnology business consulting worldwide all along the intelligence services to investors and industry leaders. It is connecting Indian nanotechnology startups and big companies worldwide to explore more scope and opportunities.

If you know and is part of a Nanotech Startup in India then do let us know in comments below.

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