Deep technology online investing platform Propel(x), Inc. has launched a new crowdsourced Diligence Insights platform for investors.

Claimed to be the first of its type, the new platform sources expert insights to better equip angel investors in making more informed investments.

The site itself only offers investments in companies founded on a scientific discovery or meaningful technological innovation, including life sciences, energy, clean technology, computer sciences, materials, and chemicals sectors.

Completing the level of diligence to invest in this type of technology can be challenging, and the level of research necessary to make an informed investment decision is often time consuming; this is the challenge the Diligence Insights platform is trying to cater to.

Propel(x) claims to streamline the diligence process by leveraging the power of its community of experts.

Using the platform, investors can collectively conduct diligence on a startup by gleaning insights from experts, customers and the startups themselves, to better understand the technology and market potential; Investors are able to submit any question they think will help the diligence process, with the community then being able to vote on which questions they believe are most worthwhile.

Investors are said to be able to refer industry experts to the platform, submit market size estimates, and identify companies they view as a competitor, with the information then being curated within Diligence Insights to provide a repository of information to aid in the investment process.

If that’s not enough, the service also provides scheduled video conference calls that allow investors to interact with startup founders, allowing them to ask questions directly. All calls are naturally archived to the repository for the startup involved.

“In our experience, there is a passionate investor community with an appetite for exploring investment opportunities beyond Internet companies and mobile apps,” said Propel(x) Chief Executive Officer and Co-founder Swati Chaturvedi said in a statement sent to SiliconeANGLE. “Many of these investors have worked in similar industries, so they already have an appreciation for the potential impact these technologies will have on humanity.”

“In addition, since many angel investors tend to invest in industries for which they possess some level of knowledge, it’s is a natural fit for them to consider making investments in deep technology companies.”

Crowdsourcing plus?

While the idea is not with precedent, be it not specifically on the same terms, what Propel(x) is offering could perhaps be called crowdsourcing plus; while at the same time tapping into the wisdom of the crowd, it is also adding a value layer in terms of both curation of information, as well as the ability for potential investors to quiz startups directly online, be it by questions or even video chat.

Founded in August 2014, Propel(x) has raised $1.5 million in seed funding to date from three investors: IDG Capital Partners, ZhenFund, and TEEC Angel Fund.

Image source: Propel(x), Inc.