Propel(x), a San Mateo, CA-based online investment platform for investors to source, evaluate and fund science and technology startups, closed a new round of financing in Q1 2020, which, including all converting notes, raised just above $5.5m.
Backers included Franklin Templeton, FreeS Venture Capital, Sky Saga Capital, ZhenFund, MIT Alumni Angels of Northern California, and several other family offices and individual angels.
Proceeds from the fund-raise will be used to build new features on the platform to allow investors to make informed investment decisions, as well as to grow operations and expand marketing.
Founded by CEO Swati Chaturvedi and Lisheng Wang, MIT classmates, Propel(x) is an online investment platform that connects science and technology startups with investors. The company introduces its users to startups that are commercializing all kinds of deep technologies, including new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials, among other things.
FinSMEs
20/07/2020