Deep tech funds Axilor’s Micelio Fund and Inflexor Ventures are leading Bengaluru-based startup NoPo Nanotechnologies’ Pre-Series A financing round, which has raised $3 million. Other angel investors and funds with a focus on climate change, including Spectrum Impact and Aureolis, also participated in the round.
The money raised will be put to use implementing a global go-to-market strategy, improving engineering capabilities, and increasing production.
With this latest funding, NoPo is developing its electronics and semiconductor offerings and increasing its production capacity to serve global battery manufacturers.
NoPo is a startup company founded by Gadhadar Reddy and Kelley Bradley that manufactures premium Single-Walled Carbon Nanotubes (SWCNTs). Over the past ten years, Gadadhar and Dr. Kelley Bradley have been developing the technology. SWCNTs are a cutting-edge material that has potential for use in a variety of applications. For example, EV battery manufacturers may use SWCNTs to increase energy density in their products, and researchers may use them to design semiconductors that will enable quantum computing.
According to NoPo, it is the only company in India and among the few worldwide to have created the technology necessary to create SWCNTs through the use of a unique, patented process.
After five years of continuous production, the company is now concentrating on increasing capacity to serve customers worldwide who use the material in high-energy density batteries and cutting-edge electronics.
