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Tribogenics Secures $2.5M

2011-12-06
MARINA DEL RAY, CA, Tribogenics announced that it has closed $2.5 million in funding from a network of global angel investors and Flywheel Ventures.
Tribogenics today announced that it has closed $2.5 million in funding from a network of global angel investors and Flywheel Ventures. The funds will be used to commercialize a disruptive new X-ray technology discovered at UCLA and funded by DARPA and other agencies. This technology enables miniature low-cost X-ray sources for a wide range of applications, including scientific instruments, security screening and medical devices.

Developed by Chief Scientist Dr. Carlos Camara, Tribogenics' patented technology will be used to transform products throughout the $12 billion global X-ray market.

Dr. Camara said, "Bolstered by this additional funding, we're confident our combination of unmatched proprietary technology and research leadership will enable us to consistently provide the best solutions for future clients."

Tribogenics also announced that mobile pioneer and veteran entrepreneur Dale Fox will lead the emerging technology company's day-to-day operations as CEO. Fox founded the first company to develop accessories and software for mobile devices and invented such mainstays as the ubiquitous screen protector overlay and the first flash module for cameraphones. In total, he has brought over two dozen products to market.

Fox said, "Tribogenics technology will enable small mobile X-ray devices, a feat that is currently not possible using existing technology. I look forward to the opportunity to leading such an experienced team to bring these solutions to market."

Trevor Loy, General Partner at Flywheel Ventures, commented, "I believe Tribogenics can bring Moore's Law-type innovation to X-ray imaging, and for the first time, bring the benefits of X-ray imaging to billions of people worldwide. In a lifetime, a venture capitalist may only see a handful of investments with this amount of economic and human potential, and I couldn't be more excited to assist the Tribogenics team in realizing that potential."

About Tribogenics
Founded in 2009, Tribogenics is developing low-cost, compact miniature solutions for applications in mining, industrial, military, medical imaging, and many other industries. Tribogenics employs technology developed at UCLA by leading scientists and is based in Marina Del Rey, California.
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