Flowonix Medical has obtained debt and equity financing totaling approximately $40 million.
The transaction includes $20 million in equity investment, led by a private equity fund managed by Élevage Capital Management, LLC.
The equity investment also included participation from Clarus Ventures and other existing Flowonix investors, as well as new investors including Hercules Technology Growth Capital.
Additionally, the fundraising included $15.0 million in venture term debt financing and an accounts receivable line credit of up to $5 million from Hercules, provided certain conditions are met.
Armentum Partners acted as the placement agent for the debt financing.