NoPo Nanotechnologies has successfully raised $3 million in a pre-Series A funding round. The funding was co-led by deep tech funds Axilor’s Micelio Fund and Inflexor Ventures. This round also saw participation from climate-focused funds Spectrum Impact, Aureolis, and various angel investors.
The newly secured funds will be instrumental in scaling up production, enhancing engineering capabilities, and executing a comprehensive global go-to-market strategy. NoPo Nanotechnologies, founded by Gadhadar Reddy and Dr. Kelley Bradley, specializes in the production of single-walled carbon nanotubes (SWCNTs), a cutting-edge material with wide-ranging applications. These applications include improving energy density in electric vehicle (EV) batteries and aiding researchers in developing quantum computing semiconductors.
“There are 100+ applications being developed across the world using SWCNTs, ranging from desalination to cancer treatment. NoPo is excited to be a pioneer in driving the development of this material and its associated applications. We are happy to partner with Micelio and Inflexor as they bring with them a wealth of knowledge and expertise in the deep-tech and climate space,” said Gadhadar Reddy, founder and CEO of NoPo.
NoPo Nanotechnologies stands out as 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 past five years and is now focusing on expanding capacity to meet the needs of global customers in high-energy density batteries and advanced electronics.
Jatin Desai, managing partner at Inflexor Ventures, expressed enthusiasm about NoPo’s potential, stating, “Their groundbreaking innovations promise to revolutionize many industries, including electric vehicles, semiconductors, and electronics. We firmly believe that the next-generation material science space holds immense potential for transformative advancements, and we’re eager to be at the forefront of it.”
With this substantial funding round, NoPo Nanotechnologies is poised to advance its production capabilities and accelerate its impact on the global market, driving innovation across multiple high-tech industries.
