Bengaluru-based nanotechnology startup Log 9 Spill Containment has raised INR 4 Cr in its Pre-Series A round of funding from angel investors Renjit Shinto and Omkar Ghaisas.
Log 9 Spill was incorporated in June 2019. The company mainly focuses on graphene-based products.
Dhananjay Sharma, CEO of Log 9 Spill, in a statement, said, “At Log 9 Spill, we are using graphene as the base material to bridge the gap between laboratory-developed technologies and market-ready products, and thus creating, manufacturing, and commercializing novel solutions for the clean-tech sector.”
The company has also developed a brand, Sorbene, to further produce oil and chemical sorbents made from graphene. The company plans to utilise this funding to set up a new production facility in Navi Mumbai for the manufacturing of Graphene-based products already in its portfolio.
It also aims to research and develop new products in the industrial spill and other domains to cater to domestic and international markets in “providing efficient oil spill clean-up solutions,” Sharma added.
“During each life cycle, our Sorbene products reduce the carbon emission to the atmosphere by at least 50% as compared to conventional products. The Sorbene pads are very flexible and can be folded and used as wipes. A single Sorbene pad can be used for 6 to 8 cycles, whereas other traditional pads can be used only once,” added Sharma.
The company has already set up a base in the domestic market by selling its sorbent pads to petrochemical refineries, marine cleanup as well as environment protection stakeholders. These pads absorb oil up to 86 times their own weight and have been tested and certified against British Standards by third-party laboratories.
The cleantech company Log 9 Spill is a subsidiary of Log 9 Materials, which was founded in November 2015 by Akshay Singhal at the IIT Roorkee’s incubation centre TIDES. The company develops nanotechnology driven products that can be used in B2B and B2C sectors. Delhi-based micro VC firm GEMsis one of the investors of the company.
According to a report, “Global Nanotechnology Market Outlook 2024”, by ResearchAndMarkets.com, the global nanotechnology market is expected to grow at a compound annual growth rate (CAGR) of around 17R between 2018-2024 due to its wide range of uses.