Banglore based startup, Log 9 Materials, which works in the domain of Nanotechnology, has raised an undisclosed amount in a pre-series-A funding from GEMs, a Delhi-based Venture Capital firm.
Founded in November 2015 by Akshay Singhal, the startup was incubated at the TIDES Incubation Centre of IIT Roorkee. The company develops scientifically proven technologies from the lab and converts it into commercially viable end products for industrial production. The company claims to have research team which possesses a deep understanding of consumer needs and they are continuously developing solutions in the form of life changing and eco-friendly products.
Commenting on the investment, Aditya Gupta, Managing Partner at 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
The company has the prime focus on graphene research and development. The vision behind the company is to accelerate the commercialization of graphene nanotechnology. They also have developed the first commercial product on graphene- ‘Smoke-safe’. This innovative graphene-based cigarette filter reduces the risk of getting cancer by 90%. They also claim to offer a wide range of graphene (CVD graphene, rGO) and its derivatives.
Explaining about the graphene market in India, Akshay Singhal, Founder & CEO of Log 9 Materials, 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. 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
The company has prepared itself 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.
The start-up has a commercial product PuFF which 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. 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.