i2E funding fuels new companies on the Oklahoma startup runway

Experience of Oklahoma City's Moleculera Labs demonstrates one path to startup funding.
www.i2e.org Published: February 12, 2013
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Moleculera restructured the business plan to temporarily lease lab space at the University of Oklahoma, rather than building, and then i2E led a $540,000 Seed Capital Round, with investment from the Oklahoma Angel Sidecar Fund, several Oklahoma SeedStep Angels, and interested parents of afflicted children.

The funding allowed Moleculera to complete the laboratory setup and receive certification to begin laboratory testing.

“Moleculera has completed 1,000 tests in the research setting,” Thomison said. “We anticipate that once the commercial laboratory opens, the volume will outgrow the temporary lab facilities and the company will need to transition to the next round of funding.”

i2E is anticipating an approximately $2 million Series A round, syndicated with out-of-state angels, Oklahoma SeedStep Angels from multiple locations, Oklahoma Seed Capital Fund and others.

Oklahoma's coordinated continuum of capital helps startup companies get off the ground before the runway runs out.

Scott Meacham is president and CEO of i2E Inc., a nonprofit corporation that mentors many of the state's technology-based startup companies. i2E receives state appropriations from the Oklahoma Center for the Advancement of Science and Technology. Contact Meacham at i2E_Comments@i2E.org.

Watch a video on Moleculera Labs


DID YOU KNOW?

As of the third quarter of 2012, health care attracted the largest share of reported angel investment for five consecutive quarters. It is second only to the Internet in the number of deals.

SOURCE: Halo Report

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