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

SAN FRANCISCO–(BUSINESS WIRE)–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)
  • 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
, 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

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

“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