NoPo Nanotechnologies raises $3M led by Axilor’s Micelio Fund, Inflexor Ventures, other climate deeptech investors

Bengaluru-based startup NoPo Nanotechnologies has raised $3 million in a pre-Series A funding round co-led by deep tech funds Axilor’s Micelio Fund and Inflexor Ventures. 

The startup plans to deploy the funds to scale up production, enhance engineering capabilities, and execute a global go-to-market strategy.

The round was also subscribed by other climate-focused funds Spectrum Impact, Aureolis, and other Angel investors. 

Who are the founders?

Founded by Gadhadar Reddy and Dr Kelley Bradley, NoPo has pioneered cutting-edge technology for producing high-quality Single-Walled Carbon Nanotubes (SWCNTs).

Gadadhar and Dr Kelley Bradley have been working on building the technology over the past decade.

In the year 2023, the startup elevated Anto Godwin as a Co-Founder and roped in Arunima Patel as a Co-founder with a focus on Business Development. 

What are SWCNTs? 

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 to be 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 startup has consistently manufactured the material for the last five years and is now focussing on expanding capacity for Global customers in high-energy-density batteries and advanced electronics. 

Development of single chiral SWCNTs

NoPo is also pioneering the development of single chiral SWCNTs, which provide tight band gap control for electronic applications.

The startup said that very few researchers globally have solved this challenge and if successful, Its material has the potential to become part of advanced semiconductor designs.

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. 

Leadership comments

“There are 100+ applications that are 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 deep-tech and climate space.”, said Mr Gadadhar Reddy, Founder & CEO of NoPo 

Jatin Desai, Managing Partner at Inflexor Ventures, stated, “We’re excited to partner with Gadhadar and Arunima through our investment in NoPo. 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.”

“Our investment in NoPo through Micelio Technology Fund is rooted in our philosophy of backing deep-science advancements to catalyze the transition to clean mobility. We believe materials innovation has the potential to transform many industries and applications. We are very excited to back NoPo and believe Gadhadar and Arunima are building a cutting-edge tech that can have an exponential impact on industries like electric vehicles and semiconductors.”, said Mr Alok Chauhan, Principal, Axilor’s Micelio Fund.