• Molekule

  Participated · Series C · Feb 2020

  Molekule develops Photo Electrochemical Oxidation (PECO) air purification devices, including the Air Mini, Air Mini+ and Air Pro. Its PECO technology is designed to destroy VOCs, mold, bacteria, viruses and allergens. The Air Mini, Air Mini+ and Air Pro were recently granted FDA clearance as medical devices for the destruction of viruses and bacteria. Molekule sells directly at Molekule.com, on Amazon and through other retailers, and its products are available internationally in India, Japan, South Korea and Canada. The company said it will use new investment funds to advance its air quality technology and expand its business reach. Led by CEO Jonathan Harris, Molekule had raised more than $100m prior to this deal, most recently via a Series C completed in early 2020. Molekule's core product is its patented PECO technology, which it says oxidizes and destroys a wide range of tiny airborne pollutants, including viruses, bacteria, VOCs, formaldehyde and ozone. The company cites more than 20 years of research and says PECO has been validated by third-party laboratories and internal testing. Molekule's products meet applicable performance criteria recommended by U.S. FDA guidance for use in helping reduce the risk of exposure to SARS-CoV-2 in healthcare settings during the COVID-19 public health emergency. The company is pursuing global expansion and has entered the Japanese market through a distribution and partnership agreement. As part of that agreement, Sourcenext invested $10 million to be used for growth initiatives as Molekule prepares to meet strong international demand. Molekule positions its hardware and software offerings together with its patented filter technology as a differentiated approach to indoor air purification. Molekule develops air-purification devices that use PECO light-driven chemistry to break down volatile organic compounds, mold and bacteria rather than relying solely on particulate capture. The company traces its technology to research by Dr. Yogi Goswami and is led by co-founder and CEO Jaya Rao. Molekule has faced mixed independent test results—Berkeley Lab and Intertek tests reported removal of VOCs and no harmful byproducts, while Wirecutter and Consumer Reports found weaker particulate capture versus HEPA units. The company has expanded its product line with a mini unit for smaller rooms and is pushing into commercial verticals such as hotels and hospitals. Molekule reports a 3x year-over-year increase in filter subscription revenue since launch and roughly 200% repeat customer growth. Despite negative press, it continues to emphasize third-party validation and peer-reviewed research behind PECO. Molekule develops air purification devices that use a patented Photo Electrochemical Oxidation (PECO) process to break down pollutants at a molecular level. Its technology, developed by Dr. Yogi Goswami, targets bacteria, mold, toxic gasses (VOCs), dust, smoke and other airborne allergens. The company plans to expand its product line, scale manufacturing and grow the team. Molekule is led by CEO Dilip Goswami and was founded in 2014. It employs about 80 people and ships to the United States, Alaska, Hawaii, Puerto Rico, the U.S. Virgin Islands and Canada. The company closed a $25M Series B to support its growth plans. Molekule makes a molecular air purifier that uses Photo Electrochemical Oxidation (PECO) nanotechnology to combat and destroy allergens, mold, bacteria and airborne chemicals at a molecular level. The device can completely purify and replace the air in a 600 square foot room without the use of a high-powered fan, making it energy efficient and ultra quiet. It connects to Wi‑Fi, uses machine learning to respond to the individual needs of each household, and can be controlled via an iPhone app. Molekule retails the device at $799 and offers annual filter subscriptions for $99. The company announced the device’s availability to the general public. Molekule intends to use new funding to scale production, expand its team and build out its product pipeline.

• Tigo Energy

  Led · Equity · Jun 2010

  Tigo Energy develops smart hardware and software for residential, commercial, and utility-scale solar systems, including its Flex MLPE and solar optimizer technology. Its intelligent, cloud-based software provides advanced energy monitoring and control, while MLPE products enable module-level rapid shutdown, performance maximization, and real-time energy monitoring. The company also designs and manufactures inverters and battery storage systems for the residential solar-plus-storage market. Tigo plans to deploy capital from a newly signed $50 million convertible note purchase and anticipated proceeds from an announced business combination with Roth CH Acquisition IV Co. to support growth initiatives and repay existing debt. Tigo and Roth CH announced a business combination expected to result in Tigo becoming a public company listed on NASDAQ under the ticker TYGO upon closing, expected in the second quarter of 2023, subject to customary approvals. Founded in 2007 and based in Campbell, California, Tigo aims to continue expanding its intelligent solar and storage offerings. Tigo Energy develops flexible module-level power electronics and its TS4 platform, which the company says enhances safety, increases energy production, and decreases operating costs of photovoltaic (PV) systems. Its MLPE solutions are deployed across single-kilowatt residential installations to multi-megawatt utility sites, including rooftop, ground-mount, and floating systems. The company reports over 40,000 installations in more than 100 countries on all seven continents, generating more than 1 GWh of daily solar production. Tigo emphasizes global product certification with a UL-system-certification focus and compatibility with hundreds of inverters from more than 15 manufacturers as part of a multivendor initiative. Founded in Silicon Valley in 2007 and based in Campbell, Calif., Tigo plans to use recent funding to improve existing products, develop next-generation solutions, and scale operations. It also intends to invest in personnel, systems, and business-process improvements to better serve and expand its customer base. Tigo Energy develops SmartModule™ technology and an energy maximizer solution for photovoltaic (PV) installations, aimed at increasing power production, ensuring peak system up-time, and reducing operations and maintenance costs. Founded in 2007 and based in Los Gatos, California, the company serves residential, commercial and utility-scale PV project owners. Its SmartModule technology is being integrated by module OEMs such as Hanwha SolarOne, UpSolar, and Trina Solar to streamline installation and reduce system costs. Tigo maintains offices in the United States, Japan, Germany, Italy, France, China and Israel. The company raised $18m in funding to expand manufacturing and accelerate international sales. As part of the investment, Umesh Padval of Bessemer Venture Partners will join Tigo's board. Tigo Energy develops power electronics and software for photovoltaic solar arrays, with its flagship Maximizer solution launched in 2009. The Maximizer implements maximum power point control at the module level and can increase array output by up to 20%; it is compatible with all PV panels and inverters. The company sells through distribution partners including AEE Solar and DC Power in the U.S., Enerpoint in Italy, SunConnex in Western Europe and TechnoSun in Spain. Tigo operates offices in Japan, Germany and Israel and is headquartered in Los Gatos, California. The new $10M infusion will be used to expand logistics, manufacturing and international sales infrastructure. In conjunction with the investment, Tigo and co-lead investor Inventec Appliances signed a manufacturing and logistics agreement to expand global supply of Tigo products.

No current team members are available.