Molekule, the US-based air purifier developer backed by manufacturing services provider Foxconn, has completed a $25m series B round led by venture capital firm Foundry Group.
The round also featured Crosslink Capital, Uncork Capital and TransLink Capital, and it increased the company’s overall funding to approximately $39m.
Founded in 2014, Molekule has created an air purifier that uses a proprietary technology known as photo electrochemical oxidation which it claims can destroy bacteria, mould and toxic gasses as well as dust and smoke on a molecular level.
The company plans to put the series B proceeds toward expanding its 80-strong team along with its manufacturing capabilities while also increasing the size of its product range.
Dilip Goswami, Molekule’s chief executive, said: “Dirty air is a health crisis that is largely unknown or ignored, unless or until someone has a respiratory ailment or there is 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.”
Foxconn participated in a $10.1m series A round for the company in July 2017 that was led by Crosslink Capital with investments by SoftTech VC and Translink Capital.
Molekule had previously received roughly $3.8m from investors including SoftTech VC, Crosslink and CSC Upshot, and it identified Uncork Capital as an existing investor in the latest round.
Photo courtesy of Molekule.
