Lyncean Technologies receives $650,000 in Series A funding
Lyncean Technologies, Inc., manufacturer of the Lyncean Compact Light Source, today announced the successful raising of $650,000 in a Series A funding round. The funding will be used to further grow commercial activity in the academic research market and the exploration of vertical market opportunities in the semiconductor and healthcare fields.
"Our recent sales and marketing efforts have validated our belief that world-class researchers value the ability to conduct synchrotron quality experiments in their own laboratory and we need to be ready to support the expected business operationally," said Lyncean CEO Dr. Michael Feser. "Having the additional financial support will also help us begin to execute our vision of expanding into one of several potential vertical markets."
"X-ray based technologies are playing a growing role not only in scientific applications but also in industrial and medical applications. We see tremendous opportunity for the Lyncean Compact Light Source to enable more important, high-value solutions for industry." said Lucian Wagner, General Partner at EuroUS Ventures, who coordinated and lead the group of participating investors.
About the Company
Lyncean Technologies, Inc. is located in Fremont, California and was founded in 2001 to develop the Compact Light Source (CLS), a miniature synchrotron x-ray source based on research performed at the SLAC National Accelerator Laboratory and Stanford University. Unlike stadium-sized synchrotron radiation sources that require a highly technical support staff, the CLS fits in a typical laboratory space and is designed to be operated directly by academic or industrial end-users. By replacing the conventional "undulator" magnets found in the large synchrotrons by laser technology, the entire device scales down in size by a factor of 200. Unlike traditional laboratory sources, the CLS makes a narrow beam of nearly monochromatic X-rays which are adjustable in energy. The first commercial Lyncean CLS was purchased in December 2012 by researchers from the newly formed Center for Advanced Laser Applications in Germany, a joint project of the Ludwig Maximilians University of Munich and the Technical University Munich (TUM). The Munich CLS was delivered at the end of 2014 and has been in routine operation since April 2015. For more information visit: http://www.lynceantech.com