Israel-based Motus GI raised $25.6 million in its latest fundraising round with 171 investors contributing to the round, Mass Device reports.
Here's what you should know.
1. The gastroenterology facing device company still has $4.4 million to raise.
2. The company hasn't made a formal statement as to how it will invest the funds. In its Securities and Exchange Commission filing, Motus GI specified it will allocate $1.5 million for sales commission and will use some proceeds for working capital purposes.
3. Motus GI created the Pure-Vu cleaning system, which allows physicians to use standard colonoscope to perform colonoscopies in poorly prepared colons.
4. In a clinical trial, Pure-Vu increased the number of participants with an adequate cleaning level from 31 percent to 98 percent after using the device.