Inventec Appliances Corp has contributed to a round that will enable USF-founded Molekule to further develop and scale its air purification technology.
Molekule, a US-based air purification system spinout out University of South Florida, completed a $58m series C round yesterday that included networking and communication product manufacturer Inventec Appliances Corp.
Venture capital firm RPS Ventures led the round, while Foundry Group, Crosslink Capital, Founder’s Circle Capital, Uncork Capital and TransLink Capital also participated.
Founded in 2014, Molekule is working on photo-electrochemical (PECO) technology to disinfect and purify indoor air. The company claims the system is able to destroy pollutants such as viruses, bacteria and mould.
It has released two products to date, one aimed at large rooms such as master bedrooms and one designed for small spaces like home offices and studio apartments.
The technology builds on more than two decades of research by co-founder and chief science and technology adviser Yogi Goswami, a distinguished professor at University of South Florida.
The funding will support the further development and scaling of Molekule’s technology. It has now raised approximately $97m according to press releases and media reports.
Manufacturing services provider Foxconn took part in a $10.1m series A round for the company in 2017 that included Crosslink Capital, TransLink Capital and SoftTech VC, the latter two having backed a $3.3m seed round alongside CSC Upshot in 2015.
Molekule secured $25m the following year in a series B round led by Foundry Group in late 2018 that also featured Crosslink Capital, TransLink Capital and Uncork Ventures, which was also described as an existing backer.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
