We are pleased to announce Foundry Group’s Series B investment in Molekule. Based in San Francisco, CA, Molekule has developed an air purification solution which captures airborne bacteria, allergens, mold, chemicals, and viruses, and breaks them down into elements that aren’t harmful. Molekule’s first product, which is shipping now, can bring relief to millions of people suffering from respiratory issues like asthma and allergies as well as help people who just want to live a healthier lifestyle. It was founded in 2014 by Dr. Yogi Goswami, Dilip Goswami, and Jaya Rao.
Molekule’s patented Photo Electrochemical Oxidation (PECO) technology completely destroys air pollutants on a molecular level. This is a critical distinction from industry standard technology, like HEPA, that hasn’t evolved since it was developed in the 1940’s. HEPA filters merely trap some pollutants on the surface of the filter where they continue to survive. Molekule’s groundbreaking technology actually breaks down pollutants to eliminate bacteria, mold, toxic gasses (VOCs), dust, smoke, and other airborne allergens — including particles 1000 times smaller than what a traditional air filter can catch.
Air pollution is a pervasive problem that impacts everyone. Research has found that dirty air can degrade our brains, become a driver of dementia and exacerbate the effects of asthma and allergies. In particular, indoor air quality is an issue that has been largely overlooked, yet it impacts nearly every aspect of our wellbeing. According to the EPA, levels of indoor air pollutants can be two to five times higher than the outdoors due to dust, mold, chemicals, and allergens.
Molekule fits into our Human Computer Interaction theme. Similar to our investments in FormLabs and Glowforge, Molekule is bringing industrial grade technology to the consumer market at an affordable price. Clean air is something that can benefit every person on the planet, so the market opportunity is enormous. The best part is that the technology really works and is available now!
We were introduced to Molekule by our good friend, Jeff Clavier, in connection with Uncork Capital’s earlier investment in the company. We often talk about how we like to invest in entrepreneurs who were put on this planet to solve a particular problem, and that has never been truer than in the case of Yogi, Dilip, and Jaya. A renowned renewable energy scientist, Dr. Yogi Goswami began working many years ago on technology to improve air quality for his son, Dilip, who suffered from severe asthma. 20 years later, Dilip is the CEO of Molekule and his sister, Jaya, is COO. Yogi continues to drive R&D as Molekule’s Chief Scientist. We couldn’t be more excited to work with this team and this incredible product. By the way, Molekule makes a great gift for friends and family!