Folio Photonics of Solon closes $8 million seed-financing round

Folio Photonics, a Solon company that’s developing technology to improve the archiving of data with optical storage technology, has received a major financial boost to help achieve that goal.

The company announced on Tuesday morning, May 21, that it has closed an $8 million seed-financing round led by Refinery Ventures of Cincinnati. Pavey Investments of Cleveland and Silicon Valley, and Capital One Partners of Cleveland also participated in the round. Kenneth D. Singer, Ph.D., the company’s founder and chief innovation officer, said in an interview that the company to date has raised about $8.5 million.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Scott Suttell.

Originally published May 21, 2019.