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.