Spectra Analysis Instruments makes high-end molecular analysis instruments — notably the DiscovIR system — that use infrared spectroscopy for materials analysis in forensics, drug development and other industries. The technology originated at Argonne National Lab at the University of Chicago and the company reports having made further patentable developments. About 60% of its business comes from forensics labs identifying controlled substances, roughly 20% from pharmaceutical R&D, and remaining sales from food and oil analysis. The Boston-based, 11-person company values the market opportunity at roughly $1 billion. Management says the firm will focus on expanding analytical sensitivity to detect microscopic contaminants, leachables and extractables from polymers. It intends to use new capital to deepen its presence in Western Europe and to boost sales, marketing and field service support.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2013