DURHAM — Durham based PhotoniCare has filed with the SEC to announce equity funding of more than $4 million. The total offering amount comes in at almost $5.8 million, meaning the company has room to raise an additional $1.7 million this round.
The filing states there are 17 investors thus far.
PhotoniCare was started in 2013 with the development of its patented product OtoSight, a tool for examining the inner ear. The company markets OtoSight as a vast improvement over the 150-year-old otoscope traditionally used to diagnose ear infections. The brainchild of Ryan Shelton and Stephen Boppart, the OtoSight was actually created at the University of Illinois at Urbana-Champaign.
The company made its move to the Triangle in 2021, seeking an area that offered more opportunities for high-tech hiring, a robust healthcare economy, plus quality-of-life benefits.
This is the second round of funding for the company this year; the company brought in more than $1 million in debt and equity back in May. In total, the company has disclosed more than $15 million in funding to the SEC since 2015.