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Performance Transformation Client Closes on $3.25 Million in Equity Funding
August 3, 2016
Molekule (San Francisco, CA), developers of the world's first molecular air purifier, announced they have closed on $3.25 million in equity financing from SoftTech VC, Crosslink Capital and CSC Upshot.
LAKEWOOD RANCH, Fla. - Aug. 3, 2016 - PRLog -- Performance Transformation, LLC™ is pleased to announce startup client Molekule has closed on $3.25 million in equity financing. This early round brings Molekule's total raise to $4 million. The cash will be used to commercialize the world's first molecular air purifier.
"We're very excited for the Goswami family as they enter the next phase of commercial development with this revolutionary technology," commented Terry Murray, Managing Partner of Performance Transformation.
Frustrated with air purifiers that didn't help his asthmatic son, Dr. Yogi Goswami, then a research scientist at the University of Florida, developed this revolutionary approach to purifying indoor air. Using visually safe light and a proprietary, catalytic filter, Dr. Goswami discovered a way to eradicate airborne pollen, bacteria, viruses and volatile organic compounds at the molecular level. The only by-products of the process are trace water and barely detectable levels of CO2.
Dr. Goswami is now the Director of the Clean Energy Research Center at the University of South Florida. He is a leading expert in solar technologies.
"We were first approached by the founders back in 2013," added Terry. "At the time, Molekule had a functional breadboard prototype, but not much else. We developed their investor-driven Strategic Business Plan, pro forma financials, investor communications documents, and provided guidance navigating the equity investor landscape. Seeing this great team secure the necessary financing to commercialize this important technology is thrilling for us."
Mr. Murray has been working with investor-driven startups, primarily in the medical device and life science arenas, since 2001. In 2008, he founded Performance Transformation to provide entrepreneurs and growth stage companies with strategic services designed to accelerate commercialization, cash flow, and drive company valuation.
Molekule will be headquartered in San Francisco while technical development will continue at USF Connect, in Tampa.