Indian startup Graviky draws funding from reality TV show for turning smog to ink
NOVEL technology from Indian-based Graviky that addresses India’s pollution problem by turning exhaust fumes into ink has won funding from its appearance on The Vault reality TV show.
Graviky, which is a Massachusetts Institute of Technology (MIT) spin-off, won Rs80 lakhs (US$119,000) from Investor Mohit Goel, CEO of Omaxe Limited.
In return Goel will receive one percent equity from the Graviky, as well as a seven percent India-exclusive commission.
Graviky’s Kaalink technology is a retrofit device that attaches to the exhaust of a vehicle collecting 95 percent of particular matter pollution without inducing back-pressure. The units are designed with heat and water-proof electronics and materials.
The device then filters the matter to produce a product the start-up is calling ‘Air Ink’, which can be used for printing. The company is promoting Air Ink in conjunction with the Tiger beer brand.
Air pollution in India is a serious problem that is caused by severe traffic congestion and fuel and biomass burning.
— India Today (@IndiaToday) October 12, 2016
In 2016 the country ranked a poor 141 out of 180 countries in the Environmental Performance Index which ranks the environmental performance of a state’s policies.
The Kaalink technology isn’t yet commercially available but is presently under certification and commercial pilots, and currently only available for private demonstrations.
The Vault is a reality television show that gives business the opportunity to pitch their ideas and inventions to a panel of investors in order to persuade them to invest money in their ventures.
— TheVault (@TheVault_Show) October 17, 2016
Creator of The Vault Jatin Goel speaking to The Times of India said: “The Vault was established as a platform to give these would-be entrepreneurs from across the country a chance to give their business dreams a big boost by securing investment and garnering visibility.”