Companies · Other Energy

Ioxus, Inc.

ONEONTA · Other Energy

Diligence memoA one-page analyst read on Ioxus, Inc. — recommendation, valuation, rhythm, risks.
$71.1M
Total raised · real
8
Rounds
0.3×
Latest step-up
Top 9%
Sector rank · raised
Series B
Latest stage · inferred · Fri Mar 22 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Ioxus, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.11× the median modeled value of Series B Other Energy companies in 2019–2021 (30 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.3 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Ioxus, Inc. is one of 2048 Other Energy companies tracked from ONEONTA. By capital raised it ranks among the largest (ahead of 92% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
5
Investors (latest)
2019-03-22
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MSeries A · 2011-02-17 Raised $12M (real) Modeled valuation $127M (est)Series A2011Series B · 2011-02-17 Raised $21M (real) Modeled valuation $244M (est)Series B2011Series A · 2013-07-02 Raised $15M (real) Modeled valuation $159M (est)Series A2013Series B · 2013-07-02 Raised $21M (real) Modeled valuation $244M (est)Series B2013Series B · 2015-05-21 Raised $296K (real) Modeled valuation $3.4M (est)Series B2015Series B · 2016-01-27 Raised $400K (real) Modeled valuation $4.6M (est)Series B2016Series B · 2016-08-24 Raised $1.6M (real) Modeled valuation $19M (est)Series B2016Series B · 2017-01-27 Raised $16M (real) Modeled valuation $188M (est)Series B2017Series A · 2017-01-27 Raised $6.5M (real) Modeled valuation $69M (est)Series A2017Series B · 2018-06-22 Raised $8.6M (real) Modeled valuation $100M (est)Series B2018Series A · 2018-06-22 Raised $7.2M (real) Modeled valuation $76M (est)Series A2018Series B · 2019-03-22 Raised $2.0M (real) Modeled valuation $23M (est)Series B2019Cumulative $112M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$12.0M · 2011
Series B$21.0M · 2011
Bridge · Series B-stage$15.0M · 2013smaller follow-on
Series B extension$21.0M · 2013
Series B extension$296K · 2015
Series B extension$400K · 2016
Series B extension$1.6M · 2016
Series B extension$16.2M · 2017
Bridge · Series B-stage$6.5M · 2017smaller follow-on
Series B extension$8.6M · 2018
Bridge · Series B-stage$7.2M · 2018smaller follow-on
Series B extension$2.0M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$23.2M
Base estimate est.
$4.8M
Conservative case
$89.3M
Upside case
$11.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series A · modeled $126.8M · 2011-02-172011Series B · modeled $243.7M · 2011-02-17Series A · modeled $158.5M · 2013-07-02Series B · modeled $243.7M · 2013-07-02Series B · modeled $3.4M · 2015-05-21Series B · modeled $4.6M · 2016-01-27Series B · modeled $18.6M · 2016-08-24Series B · modeled $187.7M · 2017-01-27Series A · modeled $69.1M · 2017-01-27Series B · modeled $99.9M · 2018-06-22Series A · modeled $75.6M · 2018-06-22Series B · modeled $23.2M · 2019-03-222019
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.22×/yr
Annual markup
1.47×/yr upside case
6.0 yr
Elapsed time used
7.3 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$8.8M/yr
Capital velocity
15.4 yr
On record since
2011
First round
12
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 21× above median
This company$71.1M
Sector median$3.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$2.0M
Sector median$19.1M
Modeled value — vs sector median (estimate, all stages) 1.4× above median
This company$23.2M
Sector median$17.0M

Raised more than 92% of sector peers (real $). Modeled value above 56% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #29 of 30.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)CalBioGas Investors I LLC · Series B Raised $35.6M · modeled $412.9M (est)Crown Lng Holdings Llc · Series B Raised $40.0M · modeled $407.2M (est)PowerTeam Management Feeder, LLC · Series B Raised $30.2M · modeled $349.9M (est)Monarch Resource Partners Holdings LLC · Series B Raised $36.6M · modeled $320.7M (est)NG Advantage LLC · Series B Raised $50.6M · modeled $309.5M (est)Sunshine Silver Mining & Refining Corp · Series B Raised $37.0M · modeled $292.3M (est)BayoTech Holdings, LLC · Series B Raised $40.0M · modeled $286.5M (est)Resource Anadarko Royalties LLC · Series B Raised $23.8M · modeled $275.6M (est)Fuel Tech, Inc. · Series B Raised $25.8M · modeled $265.4M (est)Natural Power Concepts Commercial Inc. · Series B Raised $22.0M · modeled $255.2M (est)BHP Capital, Inc. · Series B Raised $22.0M · modeled $233.1M (est)Old Falls Group, LLC · Series B Raised $20.0M · modeled $232.1M (est)Ioxus, Inc. (this company) Raised $71.1M · modeled $23.2M (est)Ioxus, Inc.
CompanyStageRaised · realValue · estvs peer med.
CalBioGas Investors I LLCSeries B$35.6M$412.9M2.02×
Crown Lng Holdings LlcSeries B$40.0M$407.2M1.99×
PowerTeam Management Feeder, LLCSeries B$30.2M$349.9M1.71×
Monarch Resource Partners Holdings LLCSeries B$36.6M$320.7M1.57×
NG Advantage LLCSeries B$50.6M$309.5M1.51×
Sunshine Silver Mining & Refining CorpSeries B$37.0M$292.3M1.43×
BayoTech Holdings, LLCSeries B$40.0M$286.5M1.40×
Resource Anadarko Royalties LLCSeries B$23.8M$275.6M1.35×
Fuel Tech, Inc.Series B$25.8M$265.4M1.30×
Natural Power Concepts Commercial Inc.Series B$22.0M$255.2M1.25×
BHP Capital, Inc.Series B$22.0M$233.1M1.14×
Old Falls Group, LLCSeries B$20.0M$232.1M1.13×
Ioxus, Inc. this companySeries B$71.1M$23.2M0.11×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$12.0M2011-02-17$54.5M$126.8M85%
Series B$21.0M2011-02-17$116.7M$243.7M85%
Series A$15.0M2013-07-02$68.2M$158.5M85%
Series B$21.0M2013-07-02$116.7M$243.7M85%
Series B$296K2015-05-21$1.6M$3.4M85%
Series B$400K2016-01-27$2.2M$4.6M85%
Series B$1.6M2016-08-24$8.9M$18.6M85%
Series B$16.2M2017-01-27$89.9M$187.7M90%
Series A$6.5M2017-01-27$29.7M$69.1M90%
Series B$8.6M2018-06-22$47.8M$99.9M90%
Series A$7.2M2018-06-22$32.5M$75.6M90%
Series B$2.0M2019-03-22$11.1M$23.2M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$12.0M2011-02-17
    • First recorded raise — entered as Series A.
    • 2 investors on this round.
  2. Series B$21.0M2011-02-17
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
    • 4 investors on this round.
  3. Series A$15.0M2013-07-02
    • Raised again after 28 mo — slower than the ~12 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  4. Series B$21.0M2013-07-02
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 8 investors on this round.
  5. Series B$296K2015-05-21
    • Raised again after 23 mo — slower than the ~12 mo sector norm.
    • Round 71.0× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  6. Series B$400K2016-01-27
    • Raised 8 mo later, in step with the ~12 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 2 investors on this round.
  7. Series B$1.6M2016-08-24
    • Came back fast: 7 mo vs the ~12 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
    • 3 investors on this round.
  8. Series B$16.2M2017-01-27
    • Came back fast: 5 mo vs the ~12 mo sector norm.
    • Round 10.1× larger than the prior — scaling up.
    • 8 investors on this round.
  9. Series A$6.5M2017-01-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  10. Series B$8.6M2018-06-22
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
    • 6 investors on this round.
  11. Series A$7.2M2018-06-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  12. Series B$2.0M2019-03-22
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round 3.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
Intelligence
2019 ~Q4
Modeled next raise · ~9mo cadence
$2.0M
Modeled next size est.range $2.0M$3.2M
0.3×
Last step-up
$8.8M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Frank Egan8 other2011-02
Zachary Shulman6 other2017-01
Mark King5 other2016-08
William Lese5 other2011-02
Zachary J. Shulman5 other2016-08
James Norrod4 other2016-01
Mark Little4 other2017-01
Michael Dorsey4 other2013-07
Scott DePasquale2 other2011-02
Jim Norrod1 other2011-02
Mark McGough1 other2011-02
Neil Suslak1 other2013-07
Robert Jaworski1 other2011-02
Alexander Schlaepfer2011-02
Donald Runkle2015-05
Henry Barber2013-07
Joseph Urciuoli2018-06
Robert Nardelli2017-01
Steve Michau2017-01
Registry & provenance

Ioxus, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1514476
SEC CIK
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Frequently asked
How much funding has Ioxus, Inc. raised?
Ioxus, Inc. has raised approximately $71.1M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Ioxus, Inc.'s estimated valuation?
Provath's modeled valuation for Ioxus, Inc. is approximately $23.2M (modeled range $4.8M–$89.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Ioxus, Inc. at?
Ioxus, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Mar 22.
What does Ioxus, Inc. do and where is it based?
Ioxus, Inc. operates in the Other Energy sector, based in ONEONTA.
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