Mumbai, India (PRWEB) December 23, 2011
Polymeric Sensors Private Limited (PSPL) received an investment from VIVA Capital. Polymeric Sensors Private Limited (PSPL) has invented a handheld electronic devise with electrochemical sensors to test water purity and soil fertility at a fraction of the time and costs involved as against conventional testing methodologies.
PSPL is promoted by Dr.Aliasgar Contractor, Dean ARC at IIT Bombay and Dr.ShamaBhat, a biotech entrepreneur. PSPL was incubated by the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay. Polymeric Sensors Pvt. Ltd designs, manufactures and markets testing systems for the testing of Water, Fluoride and Soil.
On the eve of the announcement Dr. Aliasgar Contractor said, “We are very happy to welcome VIVA. This is just what PSPL needed at this stage of our company, capital and business development expertise. I’m sure it will develop into a long and mutually beneficial relationship”.
VIVA’s investment will be used to complete the product pilot and launch it commercially. VIVA, a sector agnostic VC, founded by Vinayak Kamath, invests in early stage companies founded by subject matter experts and works actively to build out the business. This is VIVAs third investment since inception almost two years ago.
VIVA Capital’s founder Vinayak Kamath also said,”PSPL has the expertise and technology to revolutionize the economics of water and soil testing. This is an exciting phase to be associated with the company and help build out the business”.
About the Polymeric Sensors Private Limited (PSPL)
Polymeric Sensors Pvt. Ltd designs, manufactures and markets testing systems for the testing of Water,Fluoride and Soil. The launch product of the company Polysense Aqua is a water quality testing system, which is based on polymer technology and determines the parameters that indicate whether the given water sample is potable or not. Also, sensors for evaluating the quality of items of daily consumption like milk and sensors for healthcare applications are in the pipeline. The strength of Polysense products lies in its quantitative method for estimating the concentration of various parameters/ contaminants, unlike the chemical methods generally available in the markets.
About Viva Capital Advisors
VIVA Capital is a growing venture capital firm in India. Inspired by the start-up funds from the Valley in the 1960s, VIVA Capital work with their investees on various aspects that could include writing a plan, selling to prospects or reviewing a commercial policy. VIVA Capital believes that a true venture investor has to participate in the business and work alongside the management to build it out. VIVA Capital helps companies that are stuck after the initial funding has burnt out and helps them complete the organization, fix the supply chain and engage with the customers with the right level of investment to make businesses ready for Institutional Investment.
# # #