Bengaluru and Delhi based Nanotechnology startup Log 9 Materials, has secured an undisclosed amount in its Pre-Series A round of funding from Delhi-based micro VC firm, GEMs.
The startup was incubated at TIDES, the incubation centre of IIT Roorkee in November 2015. Founded by Akshay Singhal, the company develops nanotechnology driven products that can be used in both B2B and B2C sectors. As per an official statement, the startup currently holds 2 patents in graphene synthesis and graphene products.
Akshay Singhal, founder and CEO, Log 9 said, “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.”
The startup has launched a graphene-based chemical filter called PPuF, that can be attached to cigarettes and claims to eliminate chemicals in smoke by 50%, without hampering the user experience. Available at cigarette vendors in Delhi-NCR, PPuF claims to clock monthly sales over 10,000 units via offline and online channels. Apart from filtration, the startup is also working towards developing various protective coatings and graphene Quantum Dot-based LED displays.
Commenting on the investment, Aditya Gupta, Managing Partner at GEMs said, “The startup 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.”
Log 9 Materials also manufactures high-quality nanomaterials in bulk for industrial production of products. Currently, with a team of more than 10, the startup is headquartered in Delhi and an R&D centre in Bengaluru.
The startup plans to license out two technologies this year, a move that might help it to attain a total profit over $2 Mn. Log 9 is currently working on products in the areas of air and water conservation, clean energy, and coatings domain, and plans to touch all sectors within the next five years.