Duke University Pratt School of Engineering spin-off announces close of Series A funding and availability of evaluation product to potential partners
Research Triangle Park, N.C. - October 26, 2004 - Centice Corporation, a developer of the computational "smart" sensor, announced today that it's first product - a research-grade Raman spectrometer - is now available for evaluation by potential partners. Centice also closed $3.0 million in Series A funding, through The Aurora Funds and Novak Biddle Venture Partners. The funds will be used to increase staff and, through partnerships, bring a series of computational sensor-based products to market.
Formed in September 2003, Centice has strong ties to Duke University's Pratt School of Engineering. The company's computational sensors, which boost the performance of a wide range of products that rely on optical sensors, were developed at the University's Fitzpatrick Center for Photonics and Communication Systems with approximately $20 million in funding from research grants.
"Centice will have a wide impact on several markets, particularly rapidly emerging biomedical applications where the combination of science and sensing is driving important discoveries," said Scott Albert, general partner of the Aurora Funds. "We are excited to be working with a strong executive team, top technology experts, and the world-class institution of Duke University to bring this technology to fruition."
Now at the product evaluation stage, Centice sensors are customized for the specific needs of relevant products offered by manufacturers of analytical and biomedical instruments, process spectrometers, imaging equipment and position-tracking devices. According to Gartner Research, the total market for sensor-based products is approximately $8 billion, many of which have the potential to benefit from Centice technology.
Computational Sensors Pack Powerful Benefits into Many Applications
Computational sensors boost the performance of a wide range of products that use optical sensors. Some of the more common products and their uses include:
Spectroscopy: Spectrometers are analytical instruments used by scientists and researchers to perform chemical analysis of liquids, solids and gasses. Spectrometers are also commonly used for process and quality control purposes in the pharmaceutical, semiconductor, petrochemical, plastics, and food processing industries. Centice computational spectrometers greatly increase measurement sensitivity and specificity while reducing size and cost.
Imaging: Both digital cameras and infrared cameras (e.g. night vision goggles, targeting systems) use optical sensors to capture images either in the visible or infrared spectrum. Centice computational image sensors dramatically improve the image resolution and low light sensitivity of these cameras.
Security: Position-tracking sensors measure movements by detecting heat dissipated from the body. Centice computational tracking sensors can dramatically increase the level of information, both selectivity and specificity, that can be captured using a small number of low cost detectors.
Centice sensors offer up to 1000 times greater light throughput as compared to conventional sensors. The availability of this technology will both revolutionize the performance of existing products and drive the creation of new analytical instruments.
"We have a strong foundation in the research conducted by our founders and the staff at Duke University," said Steve Fredrick, General Partner of Novak Biddle Venture Partners. "With their continued dedication and the addition of a strong executive team we are prepared to bring Centice technology to an array of markets where we believe it will have a profound impact on the daily lives of many individuals. From medical testing to improved security, computational sensors are going to make life easier and safer for people worldwide."
Formed in September 2003 and based in Durham, N.C., Centice develops computational "smart" sensors for use in analytical and biomedical instruments, process spectrometers, imaging equipment and position-tracking systems. Centice smart sensors enable these products to discover more through improved resolution, sensitivity, selectivity, specificity and speed - all in low cost, very compact sizes. Visit http://www.centice.com for more information.
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