SCiO Hurdles $2.1 Million Crowdfunding on Kickstarter

SCiO

Just a little over two weeks until its crowdfunding campaign on Kickstarter comes to an end, Tel Aviv-based company  Consumer Physics, an OurCrowd portfolio company, has raised over $2.1 million dollars from more than 10,000 backers for its new consumer electronic project SCiO. The project is now in the top 25 most funded campaigns ever on Kickstarter with plenty of time in the campaign.  The company is preparing to deliver the world’s “first affordable molecular sensor,” using a handheld spectrometer that instantaneously generates relevant information on the chemical make up of anything you point scan with the device.

SCiO is based on near infra-red spectroscopy-technology. The analysis is generated by capturing the optical signature of molecules. A spectrometer breaks down the light to generate final results. Consumer Physics’ project team has delivered a low cost device with advanced signal-processing algorithms to transfer information in real time.

Damian GoldringDiscussing how he came up with the spectrometer idea in 2010, while enjoying a dinner with a friend, CTO of Consumer Physics Damian Goldring noted,

“We talked about this scanner and I was sure it had already been developed. Usually if [I] have an idea, I can assume somebody else already had it. I thought I will just go on Amazon and find one for $50. But there was nothing there.”

“[Four] years later, I am sitting here holding the produce that we developed,” he added.

The crowdfunding campaign ends on June 15.  Delivery for superstar backers starts in October.  The rest of us will have to wait until December 2014.


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