by Jason Parker
The company, based in Chapel Hill, could raise an additional $275,000. Three investors participated in the funding, according to the filing, and the proceeds will be used as working capital.
Uktraloop makes sanitation devices that use UV-C wavelengths, which the company notes on its websiteare “a form of ultraviolet light that can kill germs like viruses, molds and bacteria.”
That includes the deactivation of the virus that leads to COVID-19, the company website states.
The company notes that its technology “disrupts the DNA and RNA of pathogens,” which then results in “breaking down the hydrogen bond between adenine and thymine.” The final result is that the technology prevents the replication of DNA and RNA in pathogens, the company states.
An image depicting the process of using UV-C technology. Image: Ultraloop Technologies, Inc. website.
The whole process takes about 30 seconds, according to the company.
The company lists two products on its website, the Ultraloop X and the Ultraloop 2.0.
The filing notes that the funding is in the form of an “Option, Warrant or Other Right to Acquire Another Security,” or in the form of a “Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security.”
The company lists Bernard Bell, executive director, Shuford Program in Entrepreneurship at the University of North Carolina at Chapel Hill, and Stephanie Davis, M.D., the chair of the department of pediatrics and physician-in-chief of the N.C. Children’s Hospital and the Charles Everett and Katherine M. Brewer Professor of Pediatrics at the University of North Carolina at Chapel Hill as advisors to the company.
Original Source: WRAL TechWire