Latest Hemant Luthra News
Jul 23, 2018
Ltd has raised Rs 3 crore ($436,000) in an extended pre-Series A round from a clutch of investors that include Metaform Ventures. Hemant Luthra, chairman at auto-parts maker Mahindra CIE Ltd; Delhi-based micro venture capital firm GEMS Partners and some angel investors participated in this round, the startup said in a statement. It didn’t disclose the angel investors’ names. The startup will use the fresh capital funds to strengthen its commercial operations, product portfolio and for research and development. Log 9 founder Akshay Singhal said the company is developing an array of projects, ranging from air filtration products, water filter beds, oil spill management to next-generation batteries for electric vehicles. Founded by IIT Roorkee alumnus Singhal, Log 9 is attempting to create commercial nanotech products and technologies which can either be launched as a business-to-consumer product or licensed out to corporate houses and generate revenue. The startup’s core focus area is graphene nanotechnology. It also makes high-quality nanomaterials in bulk for industrial production. The company claims its most recent product, Log 9 Oil Sorbent, can absorb up to five times more oil than its competing products. A previous product was PuFF, a graphene-based filter that can be attached to cigarettes to reduce the toxic chemicals in cigarette smoke by. The company is developing a prototype of a product based on metal-air battery that is intended to provide clean energy solutions for electric vehicles, Singhal had said earlier. Like this report? Sign up for our daily newsletter to get our top reports.