Tucson's Codelucida Wins Angel Investsment

Arizona Daily Star

Codelucida, a University of Arizona tech startup that develops error-correction software for data storage and communications, says it has successful raised about $700,000 in a round of angel investment funding led by the Tucson-based Desert Angels.

The investment syndication also included the Southern California-based Tech Coast Angels, Phoenix-based Arizona Tech Investors and other private angel investors, the company said. Angel investors are affluent individuals taccredited to make private-equity investments.

The company, which is a business incubation client of the UA’s Arizona Center for Innovation, was co-founded by UA alumnus Shiva Planjery, with UA electrical engineering professor Bane Vasic and David Declercq, a professor at the Université de Cergy-Pontoise in France.

Codelucida won a $750,000 grant through a Small Business Innovation Research Phase-2 award from the National Science Foundation in 2015.

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