Investments keep coming in for Molekule, a leader in the air purification market. The company’s products – the Molekule Air, Air Mini, Air Mini+ and Air Pro RX – represent a revolution in technology that fights air pollution, a problem that has been attributed to seven million premature deaths yearly according to data from the World Health Organization. Molekule air purifiers use a new kind of technology called photo electrochemical oxidation (PECO (News - Alert)). It’s a technology that uses photocatalysis to speed up oxidation, which safely breaks down pollutants at a molecular level. With two decades of research behind it, PECO has been proven to destroy pollutants at the molecular level down to .1 nanometers. The list of pollutants in the air that Molekule devices can destroy includes viruses, pollen, allergens, pet dander, fumes from paint, nail polish remover, off-gassing varnish, and more.
This state-of-the-art technology has attracted numerous investors. Most recently, that includes the Amazon Alexa Fund and “Game of Thrones” star Maisie Williams. For people interested in air purification technology, this investor confidence can be a signal of a very good Molekule review.
Amazon Alexa Fund Invests in Molekule
. The Alexa Fund announced in May that it will be investing in Molekule, and this is the fund’s first investment in air purification and air quality technology.
Molekule has been selling its devices on Amazon since February 2020. Paul Bernard, director of the Alexa Fund, sees this as an exciting opportunity because, according to him, home air filtration is an area that needs more advancement.
“Home air filtration has seen little innovation in the space since the creation of the HEPA filter,” he says. “We see Molekule as advancing the state-of-the-art home air purification by developing technology that destroys pollutants. We’re excited to support them during such a crucial time for clean air innovation.”
This particular investment came shortly after another notable announcement: In tests, Molekule’s PECO technology demonstrates a remarkable ability to destroy viruses. Testing has revealed that the Air Mini device, using PECO technology, destroyed as much as 99.999 percent of MS2 bacteriophage in two hours. Tests on filters from the Air Pro RX show that this device has the ability to destroy the MS2 virus by more than 99.999 percent on the filter in 24 hours. The Air Pro RX is a medical-grade device featuring FDA 510(k) Class II Medical Device Clearance. Recently, the Air Pro RX and the Air have been deployed in Mercyhealth hospitals in northern Illinois and southern Wisconsin as a way to provide a localized air purification solution to frontline healthcare workers.
Dilip Goswami, President & Chief Technology Officer of Molekule, has this to say about the Alexa Fund’s recent investment: “For years, the Alexa Fund has been dedicated to investing in technology that makes customers’ lives easier, and we are pleased that they are continuing to invest and fund technology innovation in the current times. We are extremely dedicated to making the home smarter and are looking forward to continuing to provide innovative air purification technology that destroys the widest range of pollutants to those who need it most.”
“Game of Thrones” Actress Maisie Williams Gives Positive Molekule Feedback via Investment
Actress and entrepreneur Maisie Williams is another who sees much potential in Molekule’s PECO technology. Williams has a long history of defending the environment and speaking up about how the environment impacts humans’ well-being. Williams’ investment demonstrates her support of Molekule and how well her commitment to human health and the environment aligns with Molekule’s mission of fighting air pollution worldwide. Given the current crisis, the timing could not be better for investments in air quality technology.
“With the dangers of air quality so prevalent in our lives today, there has never been a more important time to protect ourselves against air pollution,” Williams says. “As an early fan and customer of Molekule, I’ve personally experienced the many benefits of its PECO technology. And now as an investor, I’m proud to continue my support in a company that is dedicated to providing access to clean air for everyone.”
Jaya Rao, the CEO of Molekule, is thrilled by Williams’ commitment. “We deeply value and search for partners that believe in the mission for clean air,” she says. “I’m thrilled for us to partner with Maisie. Her care for this space and her understanding of how vital the air people breathe is has led to an instant alignment. This investment will enable us to continuously bring the latest advancements in our technology to customers and enable us to expand our air purification solutions for additional industries who are in real need of an effective air purification solution today.”
Williams’ and Alexa Fund’s Investments Come on Heels of Other Investors
The investments from Williams and the Amazon Alexa Fund follow a string of other investments from venture capital firms. As of February, Molekule had raised $58 million in Series C funding, demonstrating the belief among investors that this technology is an important step forward for indoor air quality. These investments came as Molekule received further validation from independent third-party researchers proving the efficacy of the technology.
Prior to February, existing investors included Foundry Group, Crosslink Capital, Translink Capital, and Uncork Capital. February’s investments represented the third round of funding, with RPS Ventures leading the way. Other participants included Inventec (News - Alert) Appliances Corp and Founder’s Circle Capital.
Why are investors so eager to flock to Molekule? To start, the prior industry standard in air filtration technology was the HEPA filter, which was created back in the 1940s, and investors see the opportunity for innovation.
On top of that, Molekule’s PECO technology has proven itself multiple times through third-party laboratory studies. Recently, for example, the Lawrence Berkeley National Laboratory’s Indoor Environment Group completed testing that showed that Molekule devices are effective at reducing concentrations of volatile organic compounds like formaldehyde, toluene, limonene, and more. This also includes ozone, a pollutant that is highly regulated by the EPA.
Testing at Intertek (News - Alert), for instance, demonstrated that the Molekule Air devices reduced concentrations of a single injection of particulate matter 0.3 to 1.0 micron in size by 85 percent in 22 minutes. And the Aerosol Research and Engineering Laboratories conducted testing that showed that Air Pro RX filters using PECO technology were capable of killing more than 99.999 percent of bacteria and an MS2 viruses collected on the filters in 24 hours.
With all of this funding, Molekule has big plans for the future. The company anticipates continued growth – and with that, it plans to keep focusing on innovation and expanding its line of products. One of its primary goals is to offer a broad portfolio of air purification solutions in both consumer and industrial spaces. As concerns about indoor air pollution rise, this is one of the fastest-growing technological markets, with many looking for better ways to destroy particulates and pollution from the air. Recently, the COVID-19 pandemic has only fueled investor and consumer interest in innovative air purification technology.
