Scientific instrument and software ecosystem provider Exum Instruments, Denver, Colorado, USA, has announced the oversubscription of its $1.8 million launch round. Incorporated five years ago, Exum launched its Massbox™ mass spectrometer and is now taking commercial orders to deploy the analytical instrument domestically.
“I’m excited to have closed this round of funding and very proud of our team for all their hard work,” stated Stephen Strickland, CFO. “We are moving fast and taking the next steps as a company. I’m thrilled by the support of our ambitious, successful investors who see how big this is going to be. I couldn’t have asked for a better investment group.”
Notable investors highlighted by the company include Cortado Ventures, Alchemy Capital, Amerocap, Oasis Capital and FortySix Venture Capital.
Jeff Williams, CEO/CTO, added, “We have been incredibly overwhelmed with the reception our funding round has received. I believe we have found the right partners to help propel us into a strong position for an A Round later this year.”
“The beginning of this year marks the start of establishing a new benchmark for technology and experience in analytical instrumentation. We are delivering the Massbox to the hands of our customers, and we couldn’t be more excited for them to receive Exum’s vision,” Williams continued.
Josh Ulla, CDO, added, “The world is realising that tighter chemical constraints are required to develop and maintain the advanced materials of the future. While we have received interest from many different industries, our first focus will be metals testing, specifically in the Additive Manufacturing space. This is an aggressively expanding industry, and one that is already evolving and growing at the speed of Exum.”