Building Vimano: 10 takeaways from a conversation with Murari Ramkumar and Nagesh Kini
Notes from conversations with entrepreneurs, investors, industry leaders, and other stakeholders building India's deep tech and climate tech ecosystems.
In my latest episode of India Tech Report: In Conversation podcast, I spoke with Murari Ramkumar and Dr. Nagesh Kini, founders of Vimano, a deep-tech startup specializing in advanced nanotechnology and materials science.
The company focuses on developing ion-conductive membranes that are critical components for energy transition applications, including redox flow batteries, electrolysers for green hydrogen production and proton exchange membrane (PEM) fuel cells.
In our conversation, Murari and Dr. Nagesh touched upon everything from how a chance meeting led to Vimano years later, the story behind the name of their startup and the various lessons from building a deep tech hardware company out of India. Here are my top 10 takeaways.
1. Founders’ journey: From Thermax to deep-tech entrepreneurship
Murari and Dr. Nagesh first met at Thermax, where Murari interned and Nagesh led R&D in emerging energy technologies. Their shared expertise in material science and exposure to energy conversion technologies inspired them to launch Vimano.
After years in academia and industry, they combined their experiences to address critical challenges in the energy transition, ultimately founding Vimano to develop advanced membrane technologies for clean energy applications.
2. The genesis and meaning behind the name Vimano
The name ‘Vimano’ is a blend of three words: ‘Virya’ (energy or intensity in Sanskrit), ‘ma’ from materials, and ‘no’ from nano. This reflects the company’s mission to create sustainable, efficient, and cost-effective materials through nanoscience for energy applications. The founders sought a name that reflected their focus on energy, materials, and nanotechnology.
3. Proprietary membrane technology at the core
Vimano’s innovation lies in its proprietary ion-conductive membranes, which are engineered for high performance in electrochemical devices like flow batteries, electrolysers, and fuel cells.
Their technology taps nanoscale features and custom material formulations. The team has developed specialized methods to scale up production while retaining nanoscale properties, enabling tailored solutions for specific industrial applications.
4. Real-world applications: Batteries, hydrogen, and satellites
Vimano’s membranes are targeted at uses including stationary power via flow batteries, hydrogen production and fuel cells, and satellite thermal management that India’s space agency ISRO is testing out as a potential import substitute product.
Flow batteries enable long-duration energy storage for grids, while hydrogen applications support green fuel generation and cleaner power from hydrocarbons. In satellites, these membranes provide passive thermal management, acting as efficient heat shields to protect sensitive electronics from extreme temperature variations in space.
5. Overcoming manufacturing challenges through ingenuity
Operating with limited funding, and bootstrapped for its first five years, Vimano built most of its manufacturing tools in-house, using local vendors and partners.
The founders’ backgrounds in both academia and industry enabled them to innovate frugally, scaling up from small lab samples to half-meter membranes. This hands-on approach allowed them to control costs, iterate quickly, and develop expertise in scaling nanomaterial-based products for industrial use.
6. Achieving product-market fit and commercialization milestones
Vimano is progressing through key commercialization stages, measuring success by technology readiness, manufacturing readiness, and adoption readiness levels. Their membranes are already in pilots at ISRO and are being evaluated by device manufacturers. While some applications are closer to full market adoption, others require further validation. The company’s focus is on demonstrating consistent quality and performance at scale to secure broader industry buy-in and achieve lasting product-market fit.
7. VC funding and growth trajectory
The company recently closed a $2.9 million seed round led by Ankur Capital, with additional support from syndicate partners. This funding will enable Vimano to expand manufacturing capacity, support R&D, and pursue pilot projects with industry partners.
Prior to this, Vimano operated with founder capital, grants, and early-stage investments. The current round provides a runway for 24 months, with the team remaining opportunistic about future fundraising as they scale.
8. Building a globally relevant supply chain from Bengaluru
Vimano’s headquarters and core team are based in Bengaluru, with plans to expand both domestically and in the US. While India offers cost advantages and a growing talent pool, the company also seeks to leverage advanced infrastructure and industry networks in the US and Europe.
Their business model is B2B, supplying device manufacturers and system integrators worldwide, with a strong export orientation due to the concentration of device makers abroad.
9. Focus on team and infrastructure for the next growth phase
Currently, Vimano has about 10 full-time and six part-time employees, with a strong emphasis on R&D and application development. The next phase involves building out manufacturing infrastructure, creating controlled environments for consistent production, and strengthening the team with both technical and commercial talent.
Achieving repeatable, high-quality manufacturing at scale is a top priority for enabling global supply and long-term competitiveness.
10. Vision: Turning a good product into a great, sticky solution
The founders are committed to transforming their promising technology into a “great product” that is indispensable to customers, even in legacy sectors with entrenched incumbents. Their goal is to build a globally relevant, resilient supply chain and become a key enabler in the clean energy transition.
Over the next two years, Vimano aims to consolidate its technological advances, scale production, and deepen customer relationships to secure a lasting foothold in the global energy market.
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