Phi Optics closes seed funding round

November 7
5:00 AM 2013

Imaging solutions developer Phi Optics Inc raised USD250,000 in seed funding through a funding round led by Champaign's Serra Ventures. Other venture capitalists that participated in this funding round were New Jersey's Newport Holdings LP and Champaign's Illinois Ventures LLC. This was according to a report published by Fort Mill Times on its website.

The seed funding from Serra Ventures would be used for the development of more advanced optical miscroscopes. Phi Optics would be using its patented technology called Quantitative Phase Imaging (QPI) for the said project. This is a label free imaging technology that has nanoscale sensitivity, the report explained.

Phi Optics is a company that produces devices using the QPI technology. Its founders are Dr. Gabriel Popescu and Dr. Catalin Chiritescu. It aims to assist researchers in coming up with better ways to cure diseases, according to Dr. Popescu. The imaging startup is presently headquartered in the EnterpriseWorks incubator located at the University of Illinois Research Park, Fort Mill Times said.

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