Shashi Kiran Shetty picks up minority stake in US based NanoHoldings LLC

Mr. Shashi Kiran Shetty, Founder & Chairman of Avvashya group, has announced an investment in Series D round of funding of US based NanoHoldings LLC. This investment is aimed at providing resources to various NanoHoldings subsidiaries to accelerate commercialization.

Founded in 2003, NanoHoldings LLC develops and commercializes nanotechnology solutions for water, energy generation, transmission, storage, and conservation sectors.

"In today's world, the use of nanotechnology in material building and protection has not only improved the efficiency of the processes but also reduced the amount of energy required. At Avvashya, we have always believed in doing something which has meaningful impact to society. Investment in NanoHoldings provides us with a great opportunity to be part of the latest technological developments in this emerging and very interesting field" said Mr. Shetty.

Speaking about the investment, Justin Hall Tipping, Global CEO, NanoHoldings LLC said " We are delighted with the encouraging response that we received from Mr. Shetty for our business. We look forward to optimizing and accelerating the commercialization of our innovative discoveries."

"We are looking at bringing Investors like Mr. Shetty into Nanoholdings, who not only invest money, but can also provide strategic guidance as we begin to commercialize our disruptive technologies in the Asian Markets", said Mr. Tareque Pirzada CEO ASIA/MEA, Nanoholdings LLC.

The company has already raised $56MM from global institutional investors such as Morgan Stanley, Schlumberger, Royal DSM [formerly Dutch State Mining], Promoters of Anchor [India], KACST [King Abdulaziz City for Science & Technology], and McLendon Ventures.

Source : Equity Bulls

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