US-based Independa has raised $5m in series A funding from existing investor City Hill Ventures, strategic partner LG Electronics USA and additional investors.
Health care focused venture capital firm City Hill Ventures and LG Electronics USA, a subsidiary of South Korea-based technology company LG Electronics, has invested in a $5m series A round for Independa. Independa develops technology-enabled living solutions for the elderly.
The round also included the conversion of the company’s convertible note totaling $2.35m, announced last April.
The new funds will be used by Independa to grow their customer base and increase investments in research and development (R&D), sales and marketing.
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