Instrumentation company shortens development and discovery of new materials

NORMAN, OK, UNITED STATES — Boyd Street Ventures announced that it is an investor in Exum Instruments, a Denver-based scientific instrumentation company with innovative technology that significantly shortens development and discovery to provide full characterization of solid materials in minutes. Exum’s first instrument, the Massbox™, is a mobile, desktop-sized mass spectrometer that delivers lab-quality analysis to companies beyond traditional laboratories.

Exum Instruments’ $6 million Series A financing was led by EIC Rose Rock, with Boyd Street Ventures being one of several Oklahoma-based investors joining the round. The funds will be used to expand Exum’s manufacturing capacity in Tulsa, Oklahoma to serve growing demand for Massbox.

Massbox’s quasi-non-destructive analysis provides 35-to-60% lower operating costs compared to traditional methods and produces results in hours rather than the days it commonly takes with conventional laboratory-based instruments. The technology offers significant advantages for the energy industry across the mining, oil and gas, battery and nuclear sectors, as well as for academia and the environmental science and food and beverage industries. Massbox has been deployed to advanced manufacturing leaders including Elementum 3D and LIFT. Two Department of Energy national labs, Los Alamos National Lab and SLAC National Accelerator Lab, have also adopted the MassBox. The latter is using Massbox in cutting-edge battery research.

“We consider Exum Instruments to be an extremely innovative hard tech company,” said James Spann, Boyd Street Ventures Founder & General Partner. “We’re particularly excited about Massbox’s potential impact in the energy tech space, and about the growth in Exum’s Tulsa manufacturing capacity.”

Exum Instruments becomes the eighth portfolio company in Boyd Street Ventures’ Fund I, which was launched just over one year ago. The firm has announced an initial closing date of June 30, 2023 for Fund I, with a final closing date of no later than August 31, 2023.

About Boyd Street Ventures

Boyd Street Ventures is a groundbreaking early-stage venture capital firm connecting institutional and other investors to high-growth investment opportunities developed within the ecosystem of University of Oklahoma, recipient of the Carnegie Classification’s highest rating for research activity, and by OU alums and other Oklahoma-affiliated entrepreneurs. BSV places Pre-Seed, Seed, Series A and follow-on investments in the Life Sciences, FinTech, Energy Tech, Aerospace & Defense, and Climate Tech sectors. The firm focuses on under-the-radar startups that are less likely to have their prices overbid and overpriced than are startups on the East and West Coasts. This strategy, coupled with its unusually active involvement in providing de-risking strategic and operational counsel to these startups through its BSV Venture Studio, enables Boyd Street Ventures to target above-average returns for its investors. For more information, please visit https://www.boydstreetventures.com/.

John Pohl, Venture Partner, Marketing & Investor Relations
Boyd Street Ventures
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