Nanoscience and nanotechnology help manipulate or maneuver atoms and molecules to enable them to function at the nanoscale. Nanoscaled materials are the products of nanotechnology, and these are synthesized or fabricated based on specific guidelines. Nanomaterials can interact with most of the biomolecules, cell organelles, and cells, and can move across most of the biological barriers. These materials can readily be functionalized and modified as per the required targets. The modified nanomaterials become convenient tools in several fields of biotechnology, enzyme technology, tissue engineering, etc. In these fields, modified nanomaterials act as a vehicle for biomolecules, imaging agents, sensors, probes as diagnostic tools, devices, etc. The matters in the bulk form and at the nanoscale level show variable physicochemical properties, thereby, showing multifaceted abilities. These features are responsible for their variety of applications in day to day life as well as in specialized fields.