NoPo Nanotechnologies Secures $3 Million in Pre-Series A Funding
- ByStartupStory | May 22, 2024
NoPo Nanotechnologies, a pioneering startup in the field of nanotechnology, has successfully raised $3 million in a Pre-Series A funding round. The round was co-led by deep tech funds Axilor’s Micelio Fund and Inflexor Ventures, with participation from other climate-focused investors including Spectrum Impact, Aureolis, and angel investors. The infusion of capital will be utilized to scale up production, enhance engineering capabilities, and execute a comprehensive global go-to-market strategy.
Founded by Gadhadar Reddy and Dr. Kelley Bradley, NoPo Nanotechnologies has developed proprietary technology for producing high-quality Single-Walled Carbon Nanotubes (SWCNTs). This advanced material has wide-ranging applications, including improving energy density in electric vehicle (EV) batteries and aiding semiconductor research for quantum computing. In 2023, NoPo strengthened its leadership team by elevating Anto Godwin as a Co-Founder and bringing on Arunima Patel as a Co-Founder focusing on Business Development. Arunima, who has a successful track record in scaling and selling a healthcare venture, expressed excitement about the potential scale and impact of NoPo’s solutions on climate technology.
“NoPo’s cutting-edge technology has positioned us as a leader in the production of SWCNTs,” said Gadhadar Reddy, Founder and CEO of NoPo Nanotechnologies. “We are excited to partner with Micelio and Inflexor, who bring a wealth of knowledge and expertise in deep tech and the climate space. Their support will be invaluable as we scale our production capacity and develop our offerings for global customers in high-energy-density batteries and advanced electronics.”
Jatin Desai, Managing Partner at Inflexor Ventures, emphasized the transformative potential of NoPo’s innovations: “We’re thrilled to partner with Gadhadar and Arunima. Their groundbreaking work in materials science promises to revolutionize industries such as electric vehicles, semiconductors, and electronics. We believe next-generation material science holds immense potential for transformative advancements, and we’re eager to be at the forefront of this revolution.”
Alok Chauhan, Principal at Axilor’s Micelio Fund, highlighted the alignment of NoPo’s innovations with their investment philosophy: “Our investment in NoPo is rooted in our commitment to deep-science advancements that catalyze the transition to clean mobility. We are excited to back NoPo, believing that their cutting-edge technology can significantly impact industries like electric vehicles and semiconductors.”
NoPo Nanotechnologies stands out as the only Indian company and one of the few globally to produce SWCNTs using a proprietary patented method. The company has consistently manufactured this material over the past five years and is now focused on expanding its capacity to meet the growing demand from global customers. Notably, NoPo is pioneering the development of single chiral SWCNTs, which offer tight band gap control for electronic applications, a challenge few researchers globally have addressed successfully.
With over 100 applications being developed worldwide using SWCNTs, ranging from desalination to cancer treatment, NoPo is at the forefront of driving the development of this material and its associated applications. The latest funding round will enable NoPo to expand its production capacity and further develop its offerings for the electronics and semiconductor industries, marking a significant step towards transforming various high-tech sectors.
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