SAN FRANCISCO — Molekule, a science and clean technology company with patented air purification technology, has closed a $25 million Series B funding round. Led by Foundry Group with participation from existing investors Crosslink Capital Uncork Capital, and TransLink Capital. Molekule plans to use the financing to expand its product line, scale manufacturing and grow the team.
Molekule says its goal is to help millions of people around the world breathe clean air. Air pollution is a pervasive problem that impacts everyone. Research has found that dirty air can degrade our brains, become a driver of dementia and exacerbate the effects of asthma and allergies. In particular, indoor air quality is an issue that has been largely overlooked, yet it impacts nearly every aspect of our wellbeing. According to the EPA, levels of indoor air pollutants can be two to five times higher than the outdoors due to things like dust, mold, chemicals, and allergens building up indoors.
Developed by renewable energy scientist, Dr. Yogi Goswami, Molekule’s patented technology, Photo Electrochemical Oxidation (PECO), completely destroys pollutants on a molecular level. This is a critical distinction from the industry standard filters — such as HEPA filters that have seen little evolution since they were developed in the 1940’s — that merely try to trap some pollutants on the surface of the filter where they continue to survive and can escape the filter altogether. Molekule’s groundbreaking technology actually breaks down pollutants like bacteria, mold, toxic gasses (VOCs), dust, smoke, and other airborne allergens — including pollutants like VOCs, 1000 times smaller than what a traditional HEPA filter can catch.
“Molekule has a massive opportunity to bring relief to millions of people suffering from respiratory issues like asthma and allergies as well as people who just want to live a healthier lifestyle,” said Chris Moody, Partner at Foundry Group. “I’ve experienced the benefits of Molekule’s innovative technology firsthand, and am thrilled to partner with its team to set a new standard and revolutionize an outdated industry.”
“My father first created our PECO technology to help relieve my chronic asthma symptoms, so I’ve seen firsthand just how powerful this technology can be,” said Dilip Goswami, CEO of Molekule. “Dirty air is a health crisis that’s largely unknown or ignored, unless or until someone has a respiratory ailment or there’s a massive fire or flood. But every day people are breathing air pollutants in their homes and offices, and our home air purifier helps them finally breathe with relief.”
With headquarters in San Francisco, Molekule has 80 employees.