Bengaluru-based nanotechnology startup Vimano has bagged INR 25 Cr (around $2.9 Mn) in a seed funding round led by Ankur Capital.
A company spokesperson also told us that the round also saw participation from eight undisclosed investors.
Vimano plans to use the fresh capital to fuel its energy transition, initiate pilot projects with strategic partners in the energy ecosystem, expand the team and build a manufacturing process for its membranes.
Founded in 2019 by Murari Ramkumar and Nagesh Kini, Vimano 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, as per its website.
PFAS is a group of man-made chemicals used in many consumer products such as non-stick cookware, stain-resistant carpet and furniture and waterproof clothing, as well as in industrial processes, including artificial turf and building materials, among others.
The startup claims that its 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.
In the cleantech sector, the startup competes against companies such as Log9 Materials, ION Energy and Gegadyne Energy, among others.
“This investment will enable us to accelerate our commercialisation efforts and bring our high-performance membranes to market at scale,” Ramkumar said.
The development comes at a time when startups in the cleanteach space have been addressing both domestic and global environmental challenges.
Meanwhile, the Centre has also taken initiatives to enhance India’s cleantech value chain. In January, commerce and industry minister Piyush Goyal launched the ‘Bharat Cleantech Manufacturing Platform’ providing an opportunity for Indian companies to collaborate and co-innovate.
The Indian cleantech ecosystem was the fifth most funded sector in 2024, raising $829 Mn across 75 deals.
Investors have also been betting on the cleantech startups to fuel their technological innovation in driving India’s clean energy goals.
For instance, earlier this year, Bengaluru-based materials science startup Whizzo raised $4.2 Mn to boost R&D capabilities and expansion of its supply chain.
Prior to that, rooftop solar solutions startup SolarSquare bagged $40 Mn to expand its operations to 50 cities across India, hire talent and invest in brand building.
Vishal Gawai
Verified JournalistVishal Gawai is the founder of TheIndiaBizz, a media and information platform in India that offers in-depth coverage of the country's startup ecosystem.
