Vickers Ventures Partners' Lumitron Investment Makes News
US-based startup Lumitron Technologies has announced a US$34 million funding round, led by Singapore-based VC firm Vickers Venture Partners.
Also joined the round were Perennial Value Management, Clinton Capital (Australia) and Roth Capital (US), besides several global family offices.
With the new funding, Lumitron aims to build its first commercial X-ray systems in the Q4 2020.
“The closing of this round … allows us to not only fast track multiple systems addressing high-end university research applications, but also explore a new paradigm in cancer diagnostics and therapy along with catering for a range of unmet needs in industrial applications for non-destructive imaging and assay,” said Lumitron Executive Director and CTO Dr. Chris Barty.
Lumitron develops a HyperVIEW platform that aims to enable the creation of X-ray images “in the purest ultra-high resolution.”
Originally developed at the Lawrence Livermore National Laboratory in Livermore, California, the system also includes detailed imaging and elemental analysis capabilities, as well as the ability to capture motion at the picosecond time scale.
According to the company’s statement, it will present a resolution improvement of up to 1,000 times as compared to conventional X-rays while generating significantly less radiation and occupying a desktop footprint.
Commonly used in the medical and research sectors, this technology is also applicable for 3D printing, mining, security, semiconductor manufacturing, and non-destructive evaluation of materials.
Lumitron said that it is already receiving strong interest from university research facilities and government institutions across the ,world.
Vickers is known for its investment in leading tech and non-tech companies, which range from Baidu to the Asian Food Channel to TWG Tea.
The firm recently announced that it has raised US$200 million for its fourth fund.