New Delhi: Bengaluru based nanotechnology start-up Log 9 Materials has recently secured a Pre Series-A funding of around 3 crores from Metaform Ventures, Hemant Luthra, Chairman, Mahindra CIE, GEMS and other angel investors. This is a continuation of Log 9’s Pre Series-A funding received from GEMS Advisory earlier in 2017.
Log 9 will be using the latest funds to strengthen its commercial operations and patented product portfolio, as well as boosting R&D activities extensively.
Within only three years of its inception, Log 9 has taken significant strides towards solving major practical/real-life challenges with the novel use of graphene nanotechnology; the company has already got three innovative products to its credit which completed their development cycles, consolidating niche presence in the Indian market.
Speaking on the occasion, Akshay V Singhal, Founder, Log 9 Materials said, “Being a nanotechnology company working on a wide area of applications, Log 9 has an array of projects under its umbrella, ranging from air filtration products, water filter beds, oil spill management to next-generation batteries for Electric Vehicles; our projects are currently in the development or the commercialization phase. The significant amount of funds raised through the recent Pre-Series A round will be utilized in scaling up production of already commercialized products and in developing new-ones via evidence-based scientific research.”
While the earlier investment received by Log 9 was utilized in developing lab scale ideas into cost-effective, commercial products such as Log 9 Oil Sorbent Range, and in exploring usable cases of various materials of the Graphene family in the areas of air, water, and oil purification; the fresh capital will help the start-up in narrowing down its approach from a plethora of Graphene-based applications to the domains of filtration and energy where the company wants to be focused.
Elaborating further on the recent achievements of the company, Singhal added, “For us, the last year has been a year of experimentation for perfection. For the past 8 months or so we have been in developing the prototype of a product based on metal-air battery concept into viable technology, which will provide a clean and effective solution in terms of energy generation for Electric Vehicles. This will make EVs more viable by providing a driving range of more than 1000 kms and quick recharging time. We are also looking forward to create a disruption in the oil spill industry by our graphene-based products which are up to 5 times more effective than current technologies available. The long-term goal is to augment research capabilities so as to invent breakthrough technologies and products in this domain which will act as a boon for the sustainable future of mankind.”
Log 9 Materials was recently awarded the Most Innovative Company of the Year 2018 in “Technology” category by the Department of Science & Technology, Government of India. The company has entered into advanced level trials with cigarette manufacturers for incorporation of its proprietary PPuF technology (a graphene based filter that reduces the toxic chemicals in cigarette smoke) within cigarette butts.
A graphene-based Oil Sorbent called Log 9 Oil Sorbent (LOS) is the most recent product introduced by the company, which absorbs upto 5 times more oil than competing polypropylene-based products. It is expected to come up with more than one ready-to-market technologies in the next one year, and touch a gross annual turnover of Rs. 10 Crore.
