Bangalore-based nanotechnology startup Log 9 Materials has raised an undisclosed amount in pre-Series A funding from Delhi-based venture capital firm GEMs, a company statement said.
Incubated at the TIDES Incubation Centre of IIT Roorkee in November 2015, Log 9 Materials is attempting to create commercial nanotech products/technologies which can either be launched as a business-to-consumer product or licensed out to corporates and generate revenue. The company is focusing on developing graphene nanotechnology products. It also manufactures high-quality nanomaterials in bulk for industrial production. The startup has also carried out preliminary work on protective coatings and graphene-based LED displays.
Founded by IIT Roorkee alumnus Akshay V Singhal, the company has already launched a product called PuFF, a graphene-based filter that can be attached to cigarettes, which reduces the toxic chemicals in cigarette smoke by 50% without affecting the user experience of a smoker. PuFF is available with cigarette vendors in Delhi-NCR and has witnessed monthly sales of over 10,000 pieces via offline and online channels.
“We see a huge market for graphene 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 two patents for graphene synthesis and graphene products,” Singhal said in the statement.
Log 9 will license two technologies this year and expects to earn a profit of more than $2 million, he added.
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