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PLUSS Polymers raises VC funding of Rs. 150 Million from Tata Capital Innovations Fund

Tata Capital Innovations Fund has invested Rs. 150 million as equity in PLUSS Polymers. Headquartered in Gurgaon, Haryana PLUSS is a company engaged in research, development and manufacture of specialized polymers and phase change materials (PCMs).

 
PRLog - Nov. 29, 2012 - Delhi: Tata Capital Innovations Fund, a domestic venture capital fund managed by Tata Capital has invested Rs. 150 million as equity in PLUSS Polymers to help the company further its research, development and manufacturing initiatives.

PLUSS Polymers is engaged in the business of research, development and manufacture of specialized polymers and phase change materials (PCMs). Specialized Polymers enhance properties of polymer compounds thus enabling their increased adoption in white goods, auto and plastic film industries. PCMs are used for thermal energy storage and serve to balance and maintain heating/cooling load requirements. With energy becoming scarce, PCMs have significant applications in commercial refrigeration, building and construction as either backup storage sources, or to manage peak demands for heating/cooling.

“PLUSS is a good example of the strength of Indian intellect and entrepreneurship. Through in-house research & development PLUSS has developed products which address topical issues and could have wide scale applications,” said Mr. Mohan Harshey, Partner, Tata Capital Innovations Fund

Samit Jain, Director, Pluss Polymers, expressed his delight and said that, “Investment from Tata Capital Innovations Fund will help expand capacity and tap new geographies. PLUSS has seen increased demand from international and domestic clients in the recent past. PLUSS also intends to develop and roll out new products through additional funds”

About Tata Capital Innovations Fund

Tata Capital Innovations Fund has been registered with SEBI as a domestic venture capital fund under the SEBI Regulations. The Fund is focused predominantly on technology led innovations which represent breakthrough, fundamental or incremental change in technology or process. It is a sector agnostic fund and can invest across all stages viz. start-up, early, growth and mature.  Tata Capital Innovations Fund has made 3 investments till date including Pluss Polymers.

About PLUSS Polymers

Headquartered in Gurgaon, Haryana PLUSS Polymers is engaged in the business of research, development and manufacture of specialized polymers and phase change materials (PCMs). The company’s USP is constant and progressive innovation. Built on in-house R&D, PLUSS has numerous firsts to its credit. It is the first company to manufacture grafted polymers and PCMs in India. It has patents on synthetic paper compounds and has currently filed four patents in the PCM space. Its customers amongst several others include AAPL, Kraiburg, Rhodia, HES Hacillar in the grafted polymer segment and Danone, Nestle and Promethean Power in the PCM segment.

PLUSS is led by entrepreneurs and technocrats, Mr. Devendra Jain (Founder & Director-Research & Development), Mr. Samit Jain (Director-Business Development) and Mr. A K Mehta (Founder & Director-Manufacturing).

Please visit www.plusspolymers.co.in.

For further information, please contact: Ms. Adyasa Parija, PR Manager; Email: adyasa@pluss.co.in.

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Contact Email:
***@pluss.co.in Email Verified
Source:Pluss Polymers Pvt. Ltd.
City/Town:Gurgaon - Haryana - India
Industry:Research, Manufacturing
Tags:polymers, phase change materials, plastics
Shortcut:prlog.org/12033115
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