Indian Trail-based Optoniks Raises $260,000

9/20/18

By Marco Quiroz-Gutierrez, NC BIZ News

Optoniks Corp., an optical engineering and metrology company based in Indian Trail, North Carolina, raised $260,000 by selling equity in a private offering, according to a Form D filed with the Securities and Exchange Commission.

In the filing, Optoniks disclosed that it had raised $260,000 from nine investors, but were looking to raise an additional $390,000 for a total of $650,000. The company did not disclose what it intends to do with the proceeds

The six-person company was founded by in 2013 by two engineers, CEO Majid Bobaie and Chief Technology Officer Mehrdad Abolbashari, and has its origins in the Department of Physics at the University of North Carolina at Charlotte.

Bobaie has three degrees from the University of Akron in Ohio, including a bachelors and master’s degrees in electrical engineering as well as a master’s in statistics.

Optoniks’ primary product, ContourPro 4D, is a system that measures the topographical data of a surface using patented algorithms that remove shadows and allow for the measurement of samples that vary in color and reflectivity.

Optoniks received a $149,870 grant in 2015 from the National Science Foundation as part of its Small Business Innovation Research Phase I program that aimed to develop an optical measurement system to perform film thickness determination on uneven surfaces.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what is known as a Form D electronically with the SEC after they first sell their securities.

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