Ankur Capital led the seed round for the nanotechnology startup Vimano, which raised Rs 25 crore, or about $3 million. The new third fund of Ankur Capital has made its first investment.
The money raised will be used to establish manufacturing, launch pilot projects, and expand their workforce.
Vimano, founded in 2019 by Dr. Nagesh Kini and Murari Ramkumar, produces unique membranes for energy systems such as fuel cells, redox flow batteries, and green hydrogen generation. These membranes facilitate more effective energy storage and utilization. Its technology seeks to lower the price of long-term energy storage and green hydrogen.
Vimano creates unique materials that improve the flow of electricity in order to address clean energy issues. Its membrane technology can be modified to suit various applications, increasing its potency and utility. Compared to many membranes on the market today, these membranes also last longer and waste less energy.
The startup is testing and applying its technology in practical projects with partners in the energy sector. Vimano says it wants to help industries that are searching for more efficient ways to store and use clean power, as well as accelerate the transition to green energy.
Two of Ankur Capital’s current Limited Partners committed to its third fund in August of last year. Deep technology innovation companies like Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, BigHaat, Cropin, and Niramai have been supported by the venture capital firm since its founding.
