Propel(x) Celebrates Milestone Year in 2016: $5.3M Raised for Deep Technology and Science Startups on Its Platform

SAN FRANCISCO--()--Propel(x), an online angel investment platform that helps angels source, evaluate and fund ground breaking technology startups, today announced significant growth in 2016 and helped raise $5.3 million for pioneering companies. In 2016, 26 companies closed fund raises, nearly quadrupled from 2015, averaging more than $200,000 per deal. In total, 50 startups were actively raising funds on Propel(x)’s platform in 2016.

Financing the Future

Propel(x) was founded to encourage investment and speed the development of breakthrough technologies in sectors including life sciences, computer sciences, energy and 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 potentially lucrative technologies - deep technology companies account for the majority of the DJIA index today.

“2016 was a successful year in connecting groundbreaking science and technology startups with angel investors that share our common goal of making our world a better place,” said Swati Chaturvedi, CEO and Co-Founder of Propel(x). “We are encouraged by the fundraising success we have seen on our platform and look forward to continuing the strong momentum as we enter 2017.”

Notable companies who have successfully completed fundraising on Propel(x) in 2016 include:

  • Abtum, a developer of a highly differentiated, multi-patented RF technology for wireless devices raised $143,000 on Propel(x) for their Seed round.
  • Axiom Exergy, an energy storage company that transforms supermarket refrigeration systems into cloud-connected batteries, used the Propel(x) platform to raise a significant portion of its $1.39 million Bridge round.
  • zPredicta, a biotechnology company founded in 2014 by 2 Ph.D. scientists, Julia Kirshner and Mukti Parikh, are pioneering in organ-specific and disease-specific platforms for drug testing, successfully raised $100,000 towards their Seed round on the Propel(x) platform.
  • GraphWear, a non-invasive sensor that detects micronutrients and diseases from sweat in real-time, has closed a $100,000 Seed round on the Propel(x) platform.

Discovering Angel Investing Trends

In collaboration with Breakout Labs, the MIT Alumni Angels of Northern California, and Innovation Node - Los Angeles, a national node of the National Science Foundation Innovation Corps (“I-Corps”) Program, Propel(x) conducted and released a survey of more than 200 active and aspiring angel investors in the United States in 2016. Contrary to common assumptions, the study revealed angel investors are independent and do not have a “follow the leader” mentality. The survey found that while nearly half of active angel investors ranked the potential for investment returns as a top motivator for startup investing, nearly one-third ranked solving some of the world’s biggest challenges as a main motivation for investing. Furthermore, 94% of active angels reported access to subject-matter experts and other resources help when evaluating a startup investment opportunity.

“Our angel investing survey revealed new trends and motivations behind angel investments in science and technology startups,” said Lisheng Wang, Head of Investor Development and Co-Founder of Propel(x). “Having a positive impact on the world is a strong motivation for angel investing. It’s clear angel investors are driven to research and find the right start-up, and having access to management and subject-matter experts is a significant factor in making an investment decision. Propel(x) was designed to provide angel investors with the choice, tools and resources they need to make potentially world-changing investments.”

Incorporating Angel Investment Channel Program to Discover New Startups

In 2016, Propel(x) launched its first channel program with Breakout Labs. The Breakout Labs Propel(x) Channel brings a steady stream of high quality startups funded by Breakout Labs directly to its registered accredited investors. Investors can search and select from all of Breakout Labs’ start-ups fundraising on Propel(x). The Propel(x) platform allows investors to gain an in-depth understanding of each startup and their fundraising efforts, hear from the management team and other industry experts about the technologies they are developing, as well as make an investment.

“Last year, we introduced an exciting program on the Propel(x) platform that makes it easier for angel investors to access the highest quality deal flow while providing the institutions a centralized way to showcase and fundraise for their startups,” said Swati Chaturvedi, CEO and Co-Founder of Propel(x). “We look forward to introducing other channels on Propel(x) to help facilitate vital fundraising efforts.”

About Propel(x)

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 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:


for Propel(x) Inc.
Christine Hardman, 646-277-1286


for Propel(x) Inc.
Christine Hardman, 646-277-1286