In a seed fundraising round headed by investor Karthik Sundar Iyer, Tulon Materials, an R&D-led engineering business creating high-performance and sustainable specialty chemicals, raised Rs 10 crore. Along with Agam Shah, partners at Valour Capital Karan Goshar and Prakhar Pandey also participated in the round.
According to a press release from the company, the new funds will be utilized to expedite the creation and commercialization of products for use in adhesives, printing inks, and paints and coatings.
The Mumbai-based firm, founded in June 2022 by Asesh Sarkar, Rabindranath Mandal, and Harsh Bhatt, creates cutting-edge materials and unique specialized chemicals for industrial uses with an emphasis on sustainability.
In an effort to promote the use of circular materials and solve the problems associated with plastic waste, its portfolio includes a plastic waste upcycling technology that transforms complicated polymer waste into chemical resins for industrial application.
In order to expedite product validation and application development, Tulon also runs an open innovation platform in collaboration with clients, academic institutions, and industry partners. To reduce development times, the organization applies artificial intelligence to chemical modeling, validation, and R&D workflows.
The company claims that their material platforms are made to support circular economy initiatives in all of its target sectors, enabling lower-carbon industrial processes, and lessen dependency on virgin fossil-derived feedstocks.
