Nanotechnology startup Nanoclean raises ₹4.2 crores from LetsVenture, others

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Delhi-based nanotechnology startup Nanoclean has raised ₹4.2 crores in pre-series A round of funding from LetsVenture, 91Springboard, Al Nour, PitchRight Venture, and Mark V Investments. Earlier in October 2017, the startup raised an undisclosed amount from angel investors and IIT-Delhi alumnus Sanjeev Jain.

Founded by Prateek Sharma along with some fellow IITians Jatin Kewlani and Tushar Vyas in 2017, the startup manufactures air filtration devices capable of stopping particular matter, microscopic solid particles and liquid droplets floating in the atmosphere. Fine (PM2.5) and coarse (PM10) particles are considered to be the most hazardous pollutants.

IIT Delhi professors Ashiwini Agarwal and Manjeet Jassal along with some other founders developed a proprietary nano-fibre technology. Both Agarwal and Jassal are the promoters of the company. The company claims that its nano-fibre technology can achieve more than 90% efficiency in combating PM2.5 and 95% against PM10.

Nanoclean’s flagship product ‘Nasofilters’ is a respiratory nasal filter that sticks to the nose and prevents the entry of harmful air pollutants. ‘Nasofilters Pollution Net’ is its second product which helps reduce indoor air pollution in homes and other buildings. The outer layer of the net is a hydrophobic mesh, which repels water and makes it water-resistant.

The startup will use the capital to expand its base and enter into manufacturing regenerative medicines, performance textile, drug delivery methods, molecule filtration and some other specialized medical products. Nanoclean currently sells its products online on Amazon as well as offline via a network of distributors like Apollo Pharmacy.

The company recently partnered with several distributors in Thailand and has witnessed a major demand from the region. Nanoclean also works on a B2B model with corporate gifting companies in the pharma industry. Moreover, it has partnered with builders, interior designers and architects for installing the pollution net.

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Divya Baral
Divya is the correspondent for the category "Funding News", "Funding Roundups" and author of "Fundraising Essentials". She has been writing for 10 years.

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