Sonitus Medical raised $25m in its series D round led by venture capital firm Abingworth.
The $5.5m Wolverine Venture Fund, managed by students at The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the US-based University of Michigan Ross School of Business, has reinvested in the consortium backing local medical device company Sonitus Medical.
Sonitus Medical raised $25m in its series D round led by venture capital firm Abingworth.
Sonitus said all other current venture backers joined the D round. Its website lists its investors as including Novartis Venture Funds, the CIA’s quasi-corporate venturing unit In-Q-Tel, and venture firms Aberdare Ventures, Arboretum Ventures and RWI Ventures.
The Wolverine Venture Fund first invested in Sonitus in March 2011. A regulatory filing said Sonitus raised $22m at that C round following $13.5m in September 2008.
Amir Abolfathi, chief executive of Sonitus Medical, said: "The Wolverine Venture Fund is part of a strong group of investors with an impressive track record. I was amazed…
