Optical technology company ImagineOptix has launched an equity fundraising round that could reach as much as $2.6 million.
The Raleigh company has raised $151,890 from three investors so far, according to securities filings. ImagineOptix has developed patented thin-film technology that can improve video projector devices, bringing low cost and battery efficient projection capabilities to consumer electronics devices such as cell phones and laptops.
ImagineOptix was founded in 2004 by Dennis Kekas, a longtime IBM executive and current associate vice chancellor centennial campus partnerships at N.C. State University.
The company was the fourth place winner in Rice University’s 2007 business plan competition.
ImagineOptix CEO Erin Clark told Bloomberg Businessweek last month that the company expects to be profitable in a year. Clark told the magazine that the company’s success is due to a “somewhat recession-proof” business model.
The company develops its core technology and licenses it to partners, who develop products using ImagineOptix technology. ImagineOptix collects royalties.
Prior to the current financing round, ImagineOptix had raised $3.9 million from angel investors.
