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


Print Article opens in new window