Joel Ivers went looking for $2 million to fund his company, NanoDetection Technology Inc. He got more than he bargained for.
The Franklin medical testing startup has closed on a $2.3 million round that included CincyTech and 20 other investors, mostly individuals.
Ivers had to ask shareholders and the board for approval to accept the full sum, since it exceeded the planned amount.
“They agreed,” he said. “I’m told it’s rare to be oversubscribed like that.”
The money will help NanoDetection continue developing a testing technology for use in health care and other settings. A portable electronic unit will accept ...