Location: Waterloo, Ontario
Company Overview: Nicoya has developed a scientific instrument for the biotechnology industry called OpenSPR, which is used for monitoring biomolecular interactions in real time. It determines how strong and how fast two molecules bind together. The technology is based on a variant of surface plasmon resonance (SPR) called localized SPR (LSPR). Traditional SPR tools cost over $300,000, which is prohibitive for most smaller research companies, academic researchers and educational institutions. Nicoya’s entry level product sells for $25,000 providing a cost effective alternative that will enable better access to generate accurate / quick results and make biomolecular analysis available to all scientific researchers.
Our Story: Ripple first met Nicoya and the CEO Ryan Denomme at the Waterloo Alumni Angels event in Kitchner. Even though the company was working in the hardware and theraputic drugs space, the traction and enterprise sales strcutre of the business was exactly what we like to see at Ripple. We decided to lead the seed round for Nicoya and have continued to help Ryan and his team grow the business everyday.