Austin medical device maker increases latest round of financing

Jun 9, 2014
Austin Business Journal

Inova Labs Inc., a medical device maker, reported increasing its latest round of financing to $15 million

The Austin-based company, which in mid-2013 raised $12 million of the financing round, has updated the total amount involving six investors, according to a Friday filing with the U.S. Securities and Exchange Commission

Last year, CEO John Rush said three venture capital firms invested the capital from multiple funds, accounting for the larger number of total investors

Inova Labs, which launched in 2002, develops portable oxygen concentrators, according to the company website

In 2011, Inova Labs raised $3.1 million of a planned $17.5 million Series B round of funding from five investors, including California-based Latterell Venture Partners, California-based Three Arch Partners and Gilde Healthcare Partners, which operates offices in The Netherlands and Massachusetts

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