Bengaluru-based startup NoPo Nanotechnologies has secured $3 million in its pre-Series A co-led by deep tech funds Axilor’s Micelio Fund and Inflexor Ventures. The round was also subscribed by other climate-focused funds Spectrum Impact, Aureolis, and other angel investors.
The proceeds will be used to deploy the funds to ramp up production, enhance engineering capabilities, and execute a global go-to-market strategy.
With the latest funding, NoPo is expanding its production capacity to service global battery manufacturers as well as further developing its offerings for electronics/semiconductor customers.
Founded by Gadhadar Reddy and Kelley Bradley, NoPo produces high-quality Single-Walled Carbon Nanotubes (SWCNTs). Gadadhar and Dr Kelley Bradley have been working on building the technology over the past decade. SWCNTs are an advanced material that holds promise across various applications ranging from usage by EV battery manufacturers where the material can improve energy density to usage by researchers in the design of semiconductors to make quantum computing a reality.
NoPo claims that it is the only player in India and one of the few globally to have developed the technology to produce SWCNTs using a proprietary patented method.
The company has been manufacturing the material consistently for the last five years and is now focussing on expanding capacity for global customers working in high energy density batteries and in advanced electronics.
