The $13.39m in financing was provided as equity, options, and security according to a Form D filing with the US Securities and Exchange Commission. A second, undisclosed investor also took part in the fundraise.
Smart Wire is targeting a total of $18.39m for the round, which has a minimum investment demand of $1m.
The company, which was founded in 2010, offers power flow control that is less expensive, easier to implement, and more reliable than a conventional Flexible Alternating Current Transmission System (FACTS), according to its website.
The sale generated a return of 2.6 times on the venture capital firm’s $12m investment in the comapny, which develops medical devices for interventional radiology, vascular surgery and cardiology.
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