SAN FRANCISCO--(BUSINESS WIRE)--Propel(x), an online angel investment platform that helps investors source, evaluate, and fund pioneering science and technology startups, today announced the launch of its Propel(x) Channel program with its first channel partner, Breakout Labs, a seed-stage fund for hard science startups that operates out of the Thiel Foundation. Propel(x) Channels serve as dedicated and centralized platforms for leading accelerators, incubators and universities to feature startups during fundraising.
“We are very excited to partner with Breakout Labs to make the startups they support available to investors through Propel(x),” says Swati Chaturvedi, founder and CEO of Propel(x). “Investors want the highest quality deal flow and one key indicator of a startup’s potential is their relationship with reputable accelerators, incubators, research institutions, and universities. Propel(x) provides investors with access to vetted startups and offers institutions a centralized way to showcase and fundraise for their startups.”
How It Works
Interested investors can visit the Breakout Labs channel on Propel(x) to see which of its startups are currently fundraising. For maximum exposure, the companies are also listed on the main fundraising page and visible to all investors.
“Breakout Labs aims to bridge the gap between research funding and the investment marketplace,” says Hemai Parthasarathy, Scientific Director of Breakout Labs. “Often what’s needed is early working capital to complete a proof-of-concept or a prototype. With Propel(x), we have a dedicated venue to promote our startups and help them attract further funding."
Breakout Labs conducts scientific and investment diligence on companies that apply from around the country on an ongoing basis, and has funded 28 startups since 2012. All of Breakout Labs new investments, as well as their alumni will be able to fundraise through the Breakout Labs channel on Propel(x).
Curation and Quality Deal Flow
By working with a select number of notable channel partners, Propel(x) provides investors with a curated and consistent number of quality startups to invest in. In a recent survey of angel investors, Propel(x) found that “not knowing where to source deals" was reported by 15% of angels as one of the gating factors to investing in science-based companies. Through its work with leading science and technology institutions, Propel(x) helps overcome this hurdle for investors by providing them with a dedicated platform to invest in science and technology startups.
To access the Breakout Labs channel on Propel(x) go to www.propelx.com/breakoutlabs.
Propel(x) Inc. is an online investment platform that connects science and technology startups with angel investors in order to unleash huge innovations, grow great businesses, and have an impact on the way people live. Founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, Propel(x) introduces its members to ground-breaking startups that are developing new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials amongst others. By facilitating private funding for startups based on scientific and technological breakthroughs, Propel(x) seeks to change the world and build the next generation of great companies. For more information, please visit: www.propelx.com.
About Breakout Labs
Breakout Labs is a revolving fund within the Thiel Foundation that supports early stage companies as they transition radical scientific advances out of the research lab and into the economy. The program backs bold scientists who work at the intersections of technology, biology, materials, and energy. More than capital, Breakout Labs provides additional support through a two-year program that includes introductions to follow-on funders, corporate partners and other resources to drive commercialization. To learn more, visit: www.breakoutlabs.org.