SAN FRANCISCO--(BUSINESS WIRE)--Propel(x), an online angel investment platform that helps angels source, evaluate and fund ground breaking technology startups, today announced that in 2015 it helped raise more than $3.6 million dollars for pioneering companies. In 2015, Propel(x) helped 14 deals raise money, averaging more than $250,000 per deal. In total, 37 startups were active on Propel(x)’s platform during 2015, with 21 investment opportunities currently open to Propel(x)’s growing base of angel investors.
Financing the Future
Propel(x) was founded to help angel investors identify, understand and invest in breakthrough technologies in sectors including life sciences, computer sciences, energy & clean technology, new materials and space. Not only are investors who invest in deep technology companies financing some of most innovative technologies, they are also investing in some of the most lucrative - deep technology companies account for the majority of the DJIA index today.
“Deep technology companies are working to solve critically important problems – from feeding a growing population, to getting us beyond fossil fuels to curing cancer,” commented Swati Chaturvedi, CEO and Co-Founder of Propel(x). “We are really proud of the fact that our platform has been a resource to connect these ground breaking startups with angel investors and we are excited about the positive momentum we have going into 2016.”
Notable companies who have successfully raised money on Propel(x) include:
- Sensulin, a company developing a glucose-responsive insulin for type I/II diabetes, has raised the most money on the Propel(x) platform, with over $1.4M secured in its most recent offering, with larger commitments from investors introduced by Propel(x).
- C2Sense, a start-up out of MIT, developing disruptive gas sensing technologies for food and agriculture, has raised $350,000 with Propel(x)’s help. Subsequently, C2Sense successfully closed a $700,000 Series Seed Round. C2Sense is backed by Breakout Labs (The Thiel Foundation).
- Aromyx, incubated at Stanford’s StartX accelerator, which is developing a digital signature for taste and smell, has raised $475,000 on the Propel(x) platform.
Incorporating Due Diligence to Educate Prospective Investors
Propel(x) is committed to helping investors make informed investment decisions. The platform’s streamlined diligence process, which was introduced in 2015, allows prospective investors to ask questions of management, customers, scientific advisors and external experts. Through this process, Propel(x) aims to ensure its users understand the business case and investment opportunities for these complex technologies.
“Investors can be a resource to startups beyond the capital they provide, so it’s important for startups to cultivate an informed investor base. Equally essential, from the investor perspective, is that investors have a holistic understanding of the business and potential risks, especially in early-stage startups, before they contribute funds. Our due diligence process offers a mutually beneficial solution for both sides of the funding equation by offering investors an opportunity to ‘kick the tires’ of the startup before investing,” said Lisheng Wang, Co-founder and head of Investor Development at Propel(x).
Broadening the Base of Accredited Angel Investors
Propel(x) makes angel investing more accessible through its Propel(x) LLC offering. Propel(x) LLCs makes it easier for angel investors to invest in a broad range of startups by lowering the minimum investment (typically $15,000-$25,000) to as little as $3,000 per investment, allowing angels to invest in more companies and achieve a more diverse investment portfolio.
“Last year, angel investors demonstrated a strong appetite for investment opportunities in the deep tech space and we are proud that our diligence and LLC offerings broke down barriers and made these opportunities more understandable and accessible. Looking ahead to 2016, we are optimistic that this momentum will continue to bring more interest and more prospective investors to early-stage investing than ever before,” concluded Ms. Chaturvedi.
Propel(x) Inc. is an online investment platform that connects deep technology startups with angel investors, and features startups in the life sciences, energy & clean technology, computer sciences, new materials and space sectors. Propel(x) was founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, who also founded the MIT Alumni Angels. Through its community-centric diligence processes, Propel(x) demystifies investing in deep technology and removes the funding barriers for these startups. For more information, please visit: http://www.propelx.com.