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Tribogenics has raised a new $2.5 million round of funding to commercialize its low-cost x-ray technology, the startup announced today.
The x-ray technology, created by scientists at UCLA, enables low-cost x-rays on a variety of platforms, including scientific instruments and security screening and medical devices.
The company said it sees a huge opportunity to license its x-ray patents to the global x-ray market, which generates $12 billion annually. And cheaper equipment is likely to bring down medical costs for people visiting the doctor.
Tribogenics also announced that veteran entrepreneur Dale Fox will take over as the company’s CEO. Fox, who is known for inventing the ubiquitous screen protector overlay and the first flash module for camera phones, has brought over two dozen products to market to date.
The Marina Del Rey, Calif-based startup was founded in 2009. This $2.5 million round was led by Flywheel Ventures with participation from undisclosed angel investors.