New Delhi : PLUSS Polymers today announced raising VC funding of Rs. 150 Million from Tata Capital Innovations 
Fund. Tata Capital Innovations Fund is a domestic venture capital fund managed by Tata Capital. The capital has been raised as equity to assist the company further in its research, development and manufacturing initiatives.
“PLUSS is a good example of the strength of Indian intellect and entrepreneurship. Through an in-house research & development unit, 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 us in expanding capacity and tap new geographies. We have seen increased demand from international and domestic clients in the recent past. We at PLUSS, intend to further develop and roll out new products through additional funds received.”
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.
Source : Shashank Sethi