FortySix Venture Capital Announces Investment in Exum Instruments' Series A Round, Driving Innovation in Scientific Instruments Market

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May 24, 2023, 16:51 ET

TULSA, Okla., May 24, 2023 /PRNewswire/ -- FortySix Venture Capital LLC, (46VC), a Tulsa-based venture capital firm, is excited to announce 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.

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. Tracy Poole, Managing Partner of 46VC had this to say about the investment: "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". Jeff Williams, Exum CEO stated, "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.

About 46VC

46VC is a venture capital fund manager based in Tulsa, Oklahoma. 46VC has a regional strategy to invest in startups and technologies in the heartland region where it has unique access to deal flow and domain expertise. For media inquiries, please contact Tracy Poole, Managing Partner at 918-605-8321 or [email protected].

For more information on 46VC please visit the firm's website at www.46.capital

About Exum Instruments

Exum Instruments is a scientific instrumentation company building instruments and software ecosystems to increase the speed of materials development and discovery, offering easy access to high performance at a low cost. Exum's first instrument, The Massbox^™, is the first Laser Ablation Laser Ionization Time of Flight Mass Spectrometer (LALI-TOF-MS) on the market, capable of analyzing any sample you can throw at it - precisely, rapidly, and inexpensively.

For more information on Exum, please visit: www.exuminstruments.com

SOURCE FortySix Venture Capital LLC