US-based medical device company Svelte Medical Systems has increased its latest funding round, already backed by construction firm Clark Enterprises’ private equity arm CNF Investments, to $44m.
The additional capital was revealed in a regulatory filing and Svelte has not released any official statements. The filing indicates Svelte is seeking an additional $2.2m to close the round.
Svelte raised an initial $17.9m for the round in 2013. In 2014, New Sciences Ventures and Gary and Mary West Health Investment Fund provided a $5m extension, before injecting an additional $16m alongside CNF Investments in March 2015.
Founded in 2007, Svelte has developed technology that reduces the amount of procedural steps and costs involved with coronary stenting. A stent is a tube-shaped device used to treat coronary heart disease by being placed in the arteries to ensure blood can flow to the heart.
Svelte previously secured approximately $61m in combined equity funding and debt financing, according to regulatory filings. Its other investors include venture capital firm Apjohn Ventures and the Fishell family.