Mary-Louise Hoffman
Imaging scanners developer Redlen Technologies has raised $5.5 million in private funding from investors, including Pangaea Ventures and In-Q-Tel.
The financing round is meant to help Redlen further develop cadmium zinc telluride-based radiation detectors for security and medical applications, Redlen said Thursday.
Redlen is developing CZT semiconductor technology to aid computed tomography, bone density scans, nuclear probes and baggage screening.
Glenn Bindley, Redlen president and CEO, said the company seeks to grow human and capital investments and works to build a footprint in the CZT systems market.
The company also added Chris Erickson, Pangaea Ventures founder and general partner, to its board of directors.
“We led this investment round in Redlen based on the leadership position the company has established in semiconductor radiation detection and imaging,” Erickson said.
