Nanotech startup, Vimano raises Rs 25 crore led by Ankur Capital

Bengaluru, 7 April: Bengaluru-based nanotechnology startup Vimano raised Rs 25 crore (around $2.9 mn) in a seed funding round led by Ankur Capital.

According to the company, the new funds will be utilised to fuel its energy transition, initiate pilot projects with strategic partners, expand the team and build a manufacturing process for its membranes.

Vimano was founded by 2019 by Murari Ramkumar and Nagesh Kini. The company makes customised low polyfluoroalkyl substances (PFAS) or PFAS free, green chemistry formulations for flow batteries, electrolysis and fuel cells based on operating conditions and end applications.

Notably, PFAS is a group of man-made chemicals, which is used in many consumer products including non-stick cookware, stain-resistant carpet and furniture and waterproof clothing. It also has several use cases in industrial processes like artificial turf and building materials.

Vimano’s tunable ion-conductive membrane platform has led to the development of membranes that lower the cost of electrolysers, which are used in green hydrogen production and other LDES systems.

There is high demand for affordable, & sustainable energy sources in India. The startup’s proprietary technology membranes can power multiple devices that range from micro to macro, mobile to immobile, and current to emerging as per the company’s website.

Its solution can be leveraged in solving problems associated with renewable intermittency, grid failures and range issues seen in electrical vehicles.