Multicore Photonics Closes $300K Seed Investment

Multicore Photonics, an Orlando startup developing smart fiber optic-based industrial sensors to monitor and control industrial assets, systems and facilities, held the first close of its seed funding round raising $300K of the targeted $600K total. The funding was led by a local Orlando investor group and matched by the Florida Institute for Commercialization of Public Research (Florida Institute).  Multicore holds an exclusive license to an advanced fiber technology – multicore fiber (MCF) – developed at UCF-CREOL. MCF is superior by a wide margin in cost and performance to current leading edge fiber technologies and is used by Multicore to build direct OEM replacement sensors that measure temperature, pressure, vibration, shape-sensing as well as a host of derivatives, yielding a greater return on asset (ROA) for an owner/operator. This funding adds to the recent $750k Phase II SBIR award received by Multicore from the National Science Foundation aimed at accelerating commercialization of the Company’s novel NOx sensor for automotive, commercial vehicle and other industrial combustion applications. Jane Teague, COO of Florida Institute, commented: “We are pleased to support Multicore and the commercialization of technologies developed at the University of Central Florida, and look forward to the company’s continued growth and success.”  Darren Engle, CEO of Multicore stated: “We are grateful for the support of our investors, the Florida Institute and the National Science Foundation for propelling Multicore forward in its development and commercialization strategy. NOx sensing is only one application for our MCF technology, a technology that will enable the realization of Industry 4.0 and Industrial Internet of Things (IIoT).”