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PhotoniCare Announces More Than $7 Million in Funding for Commercial Expansion of First-In-Class Ear Imaging Technology

Sep 03, 2020•almost 5 years ago

Amount Raised

$7 Million

Champaign

Description

PhotoniCare, Inc., a company dedicated to revolutionizing healthcare by providing physicians with better diagnostic tools, today announced an oversubscribed $5.2 million Series A financing led by i2E Management Company Inc., with co-investment from OSF Ventures, Sony Innovation Fund, and Dreampact Ventures. The company also announced that it has received a $2.1 million Phase II Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). The competitive NIH SBIR program funds early-stage small businesses seeking to commercialize innovative biomedical technologies.

Company Information

Company

Photoni Care

Location

Champaign, Illinois, United States

About

Founded in 2013, PhotoniCare’s mission is to revolutionize healthcare by providing physicians with better diagnostic tools, starting with the TOMi Scope the first and only otoscope to provide non-invasive imaging of the middle ear using a novel application of Optical Coherence Tomography (OCT) to directly visualize and characterize fluid in the middle ear, a necessity for the diagnosis of middle ear infections. PhotoniCare has developed a patented imaging platform that provides growth opportunities beyond otology (study of the ear). Peer-reviewed studies show that the same handheld OCT technology can be used to image other areas, such as the anterior and posterior segments of the eye, the skin, and the mouth.