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Nanotechnology start-up Log 9 Materials has secured a Pre Series-A funding of around Rs 3 crore 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. The firm will use these funds to strengthen its commercial operations and patented product portfolio, as well as boost its R&D activities, Akshay V Singhal, Founder, said on Monday.
Within three years of its inception, the Bengaluru-based Log 9 has got three innovative products to its credit, which have completed their development cycles, consolidating their niche presence in the Indian market.
Log 9 has an array of projects in the development or the commercialisation phase. The funds raised will be used to scale up production of already commercialised products and in developing new ones based on scientific research.
The start-up recently won an award for the Most Innovative Company of the Year 2018 in the ‘technology’ category by the Department of Science & Technology. Log 9 Materials is a IIT Roorkee spin-off working in the nanotechnology domain and functions as a bridge between the market and the research community. It also manufactures high quality nanomaterials in bulk.
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