Bengaluru-based technology startup NoPo Nanotechnologies raised $3 million in a pre-Series A funding round by Axilor’s Micelio Fund and Inflexor Ventures. The funds will be used to scale production, improve engineering capabilities, and implement a global market strategy.

NoPo said it has developed innovative technology to produce high-quality single-walled carbon nanotubes (SWCNTs), which have been in development for the past decade.

SWCNTs are advanced materials with potential applications in various fields, such as improving energy density in EV batteries and aiding researchers in semiconductor design for quantum computing.

NoPo is among a few globally that produce SWCNTs using a proprietary patented method.

Using patented technology, NoPo said it produces SWCNTs with high purity and consistent quality, making them ideal for sophisticated electronic and battery uses.

The funding is expected to help NoPo increase its production capacity and enhance its offerings for the electronics and semiconductor industries.

Other contributors to the round include climate-focused funds Spectrum Impact and Aureolis and various angel investors.

Gadadhar Reddy, Founder and CEO of NoPo, said, “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.”

The company has been manufacturing these materials for the past five years and is expanding its capacity to meet global demand for high-energy-density batteries and advanced electronics.

NoPo is also advancing the development of single-chiral SWCNTs, which offer precise bandgap control for electronic applications.

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.”

“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,” Alok Chauhan, Principal of Axilor’s Micelio Fund, said.

Recently, International Battery Company, a lithium-ion battery startup, raised $35 million (₹2.91 billion) in a pre-series A round led by RTP Global, a venture capital firm based in Bengaluru, and other Korean and U.S. investors.