Rhythmia Medical Inc. drummed up $5 million in equity from eight investors, according to a Securities & Exchange Commission filing.
The Burlington, Mass.-based developer of medical devices for treating arrhythmia is still $2 million shy of its $7 million target for this funding round, according to the filing.
The identity of the participants in the latest round were not disclosed, but Waltham, Mass.-based Norwich Ventures has been an active financial supporter of the company. The firm led a $7 million Series B round three years ago and has provided Rhythmia Medical with nearly $12 million in total backing. Rhythmia also raised $2.7 million in a third-round equity sale to a group of 14 investors in March. Since the company was founded in 2004 by two Israeli entrepreneurs it has raised about $22 million in equity funding.
The company last year also received a pair of Small Business Innovation Research grants from the National Institutes of Health.
The principals named in the most recent filing are co-CEOs and founders Doron Harlev and Leon Amariglio and board members Michael Dale, Norwich Ventures director Philip Fleck and Shraga Katz of Israel-based Magma Venture Partners.
