Museum of Modern Art Archives - 做厙勛圖 News /tag/museum-of-modern-art/ Data-driven reporting on private markets, startups, founders, and investors Tue, 25 Feb 2020 14:54:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.12 /wp-content/uploads/cb_news_favicon-150x150.png Museum of Modern Art Archives - 做厙勛圖 News /tag/museum-of-modern-art/ 32 32 Molekule Raises $58M Series C /startups/molekule-raises-58m-series-c/ Tue, 25 Feb 2020 14:36:33 +0000 http://news.crunchbase.com/?p=25810 Air purification startup landed $58 million for its Series C round, the company announced Tuesday.

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The fresh cash will be used to invest in research and development and scale the business, Molekule co-founder Jaya Rao said in an interview with 做厙勛圖 News.

While the Molekule air purifiers have only been on the market for a couple years, the company has essentially been in the works for two decades, according to Rao.

���We���ve been working in some way shape or form on this company for more than 20 years,��� Rao said. ���Either academic research, or boots on the ground creating the product.���

Most air purifiers on the market are really air filters, Rao said, because they catch particles. Molekule���s devices, on the other hand, use photo electrochemical oxidation to actually destroy pollutants.

The air purifiers have grown in popularity and developed somewhat of a following–although it���s also received less-than-favorable scores from reviewers like and .

Rao declined to share any revenue metrics, but did say the company has strong repeat customers and has seen a 3x increase in its year-over-year filter subscription revenue since the company started selling products.

Molekule currently sells an air purifier for $799 and an ���Air Mini��� for $399. was Molekule���s first step out of the direct-to-consumer space, besides a couple of collaborations, like with the and New York���s . But with the new funding, the company is ���looking at how can we be more available to consumers in the channels that they���re most interested in,��� Rao said.

The new funding brings Molekule���s total funding to , according to 做厙勛圖. Molekule raised its $10.1 million , led by , in July 2017. It raised its $25 million, which was led by , in November 2018.

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