# PhotoniCare

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/photonicare

- Industry: Medical Devices & Equipment
- Headquarters: Durham, US
- Website: www.photoni.care
- Total disclosed funding: $12M
- Latest round: Series B (Nov 18, 2024)
- Investors on record: 13

## About

Based in the US, PhotoniCare, Inc. is a healthcare technology company specializing in advanced diagnostic tools to enhance middle ear health management.PhotoniCare, Inc. is focused on providing innovative diagnostic solutions for middle ear conditions. The company was founded in 2013 in Durham, US. The founders, Ryan Nolan and Ryan Shelton, have backgrounds in technology and healthcare. In December 2024, PhotoniCare secured USD 4.62 mn in Series B funding led by Gentex Corporation, with participation from Michigan Capital Network. This latest funding round brings the total amount raised to USD 4.62 mn, with a current valuation of USD 41.42 mn.PhotoniCare, Inc. specializes in advanced diagnostic tools aimed at improving middle ear health management through its core product, the OtoSight Middle Ear Scope. This innovative device employs sophisticated imaging technology to provide healthcare providers with objective data regarding fluid presence in the middle ear, offering critical insights into fluid characterization and density, even amid significant cerumen (earwax). The primary users include pediatricians and otolaryngologists, addressing the needs of over 9 million children diagnosed annually with middle ear issues in the United States. The OtoSight Middle Ear Scope is designed for clinical settings, ensuring efficacy and seamless integration into healthcare practices across North America.PhotoniCare's revenue model centers on the sale of the OtoSight Middle Ear Scope, with transactions occurring through direct sales to healthcare providers and facilities. Clients can purchase the devices outright or enter into partnership agreements for ongoing support. The pricing for the OtoSight Middle Ear Scope reflects its advanced technology, positioning it as a premium product in the diagnostic tool market. The company also offers training and maintenance services as part of its value proposition, supporting clinicians in maximizing the technology's benefits.PhotoniCare plans to utilize the recent Series B funding of USD 4.62 mn to support its clinical trial and ramp up production and sales of the OtoSight Middle Ear Scope. The company also intends to relocate its headquarters to Grand Rapids. These initiatives aim to enhance market reach and operational capabilities. The company is actively exploring expansion into additional healthcare markets and geographic regions to broaden its impact in improving ear health outcomes.

## Funding rounds

- Series B, Nov 18, 2024, $4.6M — Gentex Corporation, Michigan Capital Network
- Series A, Sep 3, 2020, $5.2M — OSF Ventures, Sony Innovation Fund, Dreampact Ventures, i2E Management Company
- Seed, Mar 6, 2018, $2M — VisionTech Partners, Julz, Almond Tree Capital, F&S Capital, Innovation in Motion
- Seed, Sep 16, 2016 — DreamIt Ventures
- Seed, Jun 5, 2015, $0.3M — Illinois Ventures

## Investors

- Illinois Ventures (https://capitalatlas.ai/funds/illinois-ventures) — Seed
- DreamIt Ventures (https://capitalatlas.ai/funds/dreamit-ventures) — Seed
- VisionTech Partners (https://capitalatlas.ai/funds/visiontech-partners) — Seed
- Julz (https://capitalatlas.ai/funds/julz) — Seed
- Almond Tree Capital (https://capitalatlas.ai/funds/almond-tree-capital) — Seed
- F&S Capital (https://capitalatlas.ai/funds/f-s-capital) — Seed
- Innovation in Motion (https://capitalatlas.ai/funds/innovation-in-motion) — Seed
- OSF Ventures (https://capitalatlas.ai/funds/osf-ventures) — Series A
- Sony Innovation Fund (https://capitalatlas.ai/funds/sony-innovation-fund) — Series A
- Dreampact Ventures (https://capitalatlas.ai/funds/dreampact-ventures) — Series A
- i2E Management Company (https://capitalatlas.ai/funds/i2e-management-company) — Series A
- Gentex Corporation — Series B
- Michigan Capital Network (https://capitalatlas.ai/funds/michigan-capital-network) — Series B