Propel(X) Raised $3.6 Million for Tech Startups in 2015

swati chaturvedi propelPropel(x), an angel crowdfunding platform that helps individuals source promising technology startups, has announced that during 2015 it helped raise over $3.6 million dollars for early stage companies.  According to information provided by the company, Propel(x) helped to fund 14 different deals at an average raise of $250K per deal.  During 2015, 37 different deals were listed on the platform and 21 offers remain open on the Propel(x) platform.

Propel(x) was founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, classmates from MIT. The investment portal takes a “community centric approach” to deep tech investments.  The platform strives to empower investors to make informed investment decisions while building a dynamic and diversified portfolio. Propel(x) received seed-round funding in June of last year.

Chaturvedi stated she was enthusiastic abou the past years’ results and excited about the engendered momentum.

“Deep technology companies are working to solve critically important problems – from feeding a growing population, to getting us beyond fossil fuels to curing cancer,” commented Chaturvedi. “We are really proud of the fact that our platform has been a resource to connect these ground breaking startups with angel investors and we are excited about the positive momentum we have going into 2016.”

lisheng wang propelPropel(x) focuses on tech sectors including life sciences, computer sciences, energy & clean technology, new materials and space. Propel(x) points out that investing in tech can drive returns as some of the most lucrative – deep technology companies account for the majority of the DJIA index today.

“Investors can be a resource to startups beyond the capital they provide, so it’s important for startups to cultivate an informed investor base. Equally essential, from the investor perspective, is that investors have a holistic understanding of the business and potential risks, especially in early-stage startups, before they contribute funds. Our due diligence process offers a mutually beneficial solution for both sides of the funding equation by offering investors an opportunity to ‘kick the tires’ of the startup before investing,” said Wang.

I love AngelsPropel(x) wants to make angel investing more accessible. The company has lowered the minimum investment (typically $15,000-$25,000) to as little as $3,000 per investment, allowing angels to invest in more companies and achieve a more diverse investment portfolio.

“Looking ahead to 2016, we are optimistic that this momentum will continue to bring more interest and more prospective investors to early-stage investing than ever before,” stated Chaturvedi.

Some of the companies that have successfully raised money include:

  • Sensulin, a company developing a glucose-responsive insulin for type I/II diabetes, has raised the most money on the Propel(x) platform, with over $1.4M secured in its most recent offering, with larger commitments from investors introduced by Propel(x).
  • C2Sense, a start-up out of MIT, developing disruptive gas sensing technologies for food and agriculture, has raised $350,000 with Propel(x)’s help. Subsequently, C2Sense successfully closed a $700,000 Series Seed Round. C2Sense is backed by Breakout Labs (The Thiel Foundation).
  • Aromyx, incubated at Stanford’s StartX accelerator, which is developing a digital signature for taste and smell, has raised $475,000 on the Propel(x) platform.


Register Now to Attend
Sponsored Links by DQ Promote



Send this to a friend