Sproxil Grabs $1.8M

3/1/11

Sproxil, a provider of a mobile authentication system for identifying counterfeit medicine in developing countries, has brought in $1.8 million in equity funding from one investor, according to an SEC filing. The firm, which started in Somerville, MA, in 2009, first hit our radar when it won IBM’s SmartCamp competition last summer, and has participated in other business plan competitions like MassChallenge. In January, Sproxil chief financial officer Alden Zecha told me that the startup was adding to the pool of pharmaceutical companies that use its service and was eyeing Series A money to increase its staff. Neither Zecha nor CEO Ashifi Gogo could be reached for comment this morning, but we’ll be sure to update this space if they have anything to say on the newest financing.

By posting a comment, you agree to our terms and conditions.