Commericial-stage spinal device company SpineVision closed a $10 million funding round, primarily backed by new healthcare investor Omega Funds.
The capital raised included backing from Omega and existing investors Alto Invest and Midi Capital. SpineVision said it will use the funds to expand commericial operations in the U.S. and Europe as well as beef up R&D.
"We now have resources to accelerate the expansion of SpineVision with the objective to further grow our revenue base and achieve sustainable profitability," said CEO Amaud Brisard in prepared remarks. "The present topline growth validates the product strategy implemented since 2009, and this capital increase will accelerate the development of new innovative product lines."
In 2011, the Paris-based company raised $5 million, which it said would go toward its minimally invasive motion-preservation spinal therapies.