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| Eikon retractor--Courtesy of Invuity |
Invuity, a San Francisco-based maker of devices for minimally invasive surgery, has raised a new round of equity and debt to speed sales of its line of visualization tools. Its CEO says annual revenue has grown into the low millions.
The $36 million Series E includes $21 million in equity and up to $15 million in debt, led by HealthCare Royalty Partners.
HC Royalty joined existing investors Valence Life Sciences, InterWest Partners and Kleiner Perkins Caufield and Byers--who in June 2012 put a $25 million Series C into Invuity to fuel the development, manufacturing and commercial launch of a line of surgical tools imbued with the company's illumination technology.
At the time of its Series D, trailing annual revenue was $800,000. "Recently," sales have more than doubled each year, Invuity's chief executive, Philip Sawyer, said in a statement today.
The company touts microlenses in its Eigr illumination technology, used to project light more broadly and uniformly than traditional fiber optics. Invuity mounts Eigr illumination on devices including retractors and suction tools.
- read Invuity's press release