# Exum Instruments

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/exum-instruments

- Industry: Software
- Headquarters: Lakewood, US
- Website: www.exuminstruments.com
- Total disclosed funding: $6M
- Latest round: Series A (May 23, 2023)
- Investors on record: 6

## About

Exum Instruments, Inc. is a U.S.-based company specializing in advanced materials characterization technologies, focusing on innovative analytical instruments for precise material identification across various industries.Founded in 2016 and headquartered in Lakewood, US, Exum Instruments, Inc. develops cutting-edge analytical tools. The company was co-founded by Jeffrey Williams, Matthew McGoogan, and Stephen S. In May 2023, Exum Instruments raised USD 6 million in Series A funding led by Energy Innovation Capital, with participation from notable investors including Advantage Capital and Boyd Street Ventures. This funding is allocated to expand manufacturing capacity, supporting the company’s growth strategy. Exum Instruments specializes in advanced materials characterization technologies, primarily through its core product, the Massbox™, which utilizes Laser Ablation Laser Ionization Time of Flight Mass Spectrometry (LALI-TOF-MS) for analytical applications. This innovative instrument enables users to achieve trace-level quantitative results across the full periodic table, from lithium to uranium, thus addressing the need for precise material identification and contamination detection in various industries. The Massbox™ is designed for rapid analysis, allowing users to create detailed spatial maps with micron-scale resolution and characterize coatings or diagnose failures with nanoscale depth profiles. The company's client base includes research institutions, laboratories, and manufacturers across diverse geographical markets, including North America, Europe, and Asia-Pacific, who require sophisticated tools for material analysis and development.Exum Instruments generates revenue primarily through direct sales of its flagship product, the Massbox™, along with associated software and support services. Transactions typically occur through direct B2B sales to research organizations and industrial clients, where customers purchase the instrument alongside ongoing maintenance packages and software updates. The company may also offer training and consultation services as part of their value proposition, ensuring users can fully leverage the capabilities of the Massbox. Specific pricing structures for these products and services are tailored to client requirements, reflecting the specialized nature of the technology and the support provided.In the future, Exum Instruments plans to design and launch new products aimed at enhancing its offerings in materials characterization technologies. The company is targeting expansion into new geographic markets, with specific focus on increasing its footprint in Europe and Asia-Pacific by the end of 2024. The recent Series A funding of USD 6 million will be utilized to support these initiatives, particularly in expanding manufacturing capacity to meet anticipated demand.

## Funding rounds

- Series A, May 23, 2023, $6M — Advantage Capital, Energy Innovation Capital, Cortado Ventures, FortySix Venture Capital, Alchemy Capital, LLC, Boyd Street Ventures
- Seed, Jun 4, 2020 — Cortado Ventures

## Investors

- Cortado Ventures (https://capitalatlas.ai/funds/cortado-ventures) — Seed, Series A
- Advantage Capital — Series A
- Energy Innovation Capital (https://capitalatlas.ai/funds/energy-innovation-capital) — Series A
- FortySix Venture Capital (https://capitalatlas.ai/funds/fortysix-venture-capital) — Series A
- Alchemy Capital, LLC — Series A
- Boyd Street Ventures (https://capitalatlas.ai/funds/boyd-street-ventures) — Series A