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InnoNano Research, a clean-water technology company incubated at IIT Madras, has received funding of $18 million from US-based Nanoholdings, an energy and water investment specialist firm. This is one of the highest funding received by a company incubated at the institute. The eight-year-old Chennai-based company has devised affordable water purification using silver nano particles to provide arsenic-free water. The funding will help InnoNano to expand footprint in global markets and file patents, said its founder T Pradeep who is also a professor of Chemistry at IIT-M. NanoHoldings, for the last four years, had supported InnoNano in global patent, he told.
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