Fortysix Venture Capital

May 31, 2023

46VC invests in Exum Instruments' Series A funding round Published: 31-05-2023 11:08:00 | By: Pie Kamau | hits: 16 | Tags: FortySix Venture Capital (46VC), a Tulsa-based venture capital firm, announced its strategic investment in Exum Instruments' Series A funding round, marking the first investment from their recently launched Kinetic Fund. Exum Instruments, a Denver-based scientific instruments company, has developed the revolutionary Massbox, a cutting-edge instrument that democratizes mass spectrometry analysis. Unlike traditional analytical tools that were primarily accessible to PhD chemists, the Massbox's innovative design and user-friendly software empower individuals across various scientific disciplines to conduct accurate and efficient chemical characterization in a matter of minutes with mobile capability. For a variety of end users, this accelerates new material development, quality control, failure analysis and more. Tracy Poole , Managing Partner, 46VC: "We were excited to be in a position to join with a group of local investors like Energy Innovation Capital, Advantage Capital, Boyd Street Ventures, Alchemy Capital and Cortado Ventures to advance innovation in the materials and energy spaces and help bring a top-notch team of innovators to build in Tulsa." This round of funding will play a pivotal role in supporting the company's expansion plans. With the funding, Exum Instruments aims to establish a state-of-the-art manufacturing plant, enabling them to scale up production significantly. This increased manufacturing capacity will not only meet the rapidly growing demand for the Massbox but also position Exum Instruments as a key player in the scientific instruments market. Massbox has been adopted by several manufacturing concerns and high-profile laboratories, including the Department of Energy national labs, Los Alamos National Lab and the SLAC Accelerator Lab. Jeff Williams , CEO, Exum: "We are thrilled and honored to receive support from some of the strongest VCs in the region, and we look forward to leveraging their broad experience and connections to fuel our growth." The investment will enhance the local economy and promote innovation in the region by generating 25-30 high-tech jobs in Tulsa. This significant contribution is made possible through 46VC's special partnership with the Oklahoma Center for the Advancement of Science and Technology (OCAST) leveraging OCAST's recent investment of U.S. Treasury's SSBCI funds in 46VC's Kinetic Fund.