Blood glucose monitor maker Intuity Medical has raised approximately $26.3 million in a new round of mixed financing, according to a recently posted SEC filing.
Fremont, Calif.-based Intuity Medical is developing the Pogo all-in-one automatic blood glucose monitoring system. The Pogo platform incorporates test strips, lancets and a lancing device into a compact meter and cartridge system, the company said.
The Pogo system is designed to automatically lance the users finger, collect the blood sample and provide test results in a single step, according to the company’s website.
Money in the round came from 15 unnamed investors, with the first date of sale noted as having occurred on May 2, according to the filing.
The company is looking to raise an additional $10 million in the round, which would bring the total raised up to approximately $36.3 million.
Intuity Medical offered a combination of equity, debt, options and securities available upon exercise of options and warrants in the offering, according to the SEC filing.
The company has not yet officially announced how it plans to spend funds raised in the round.
In January 2017, Intuity Medical said that it added another $15 million to the $40 million Series C round it reported a year earlier, bringing the round’s total to $55 million.
