Modulated Imaging, an Irvine, Calif.-based provider of optical imaging solutions for noninvasive assessment of tissue health, raised $7m in Series B funding.
The round was led by Pangaea Ventures, with participation from returning investors Fresenius Medical Care Ventures, Grey Sky Venture Partners, Mitsubishi UFJ Capital Co. Ltd and Fouse KK. In conjunction with the funding, Janelle Goulard, Director of Health Investment for Pangaea, will join Modulated Imaging’s board of directors.
The primary purpose of the investment is to fund commercialization of the recently FDA-cleared Clarifi™ Imaging System.
Clarifi is powered by Modulated Imaging’s platform technology—spatial frequency domain imaging (SFDI)—which provides quantitative assessment of circulatory compromise conditions which allow clinicians to identify patients at risk for diabetic foot ulcers and other vascular complications.