New York, Aug. 23 - Sightline Technologies Ltd. said it raised $10 million in a round D financing led by NGN Capital.
Other buyers for the preferred stock were Vitalife, Infinity, Inventech and the Fishman Group.
Haifa, Israel-based Sightline is working on commercializing and further developing its ColonoSight system, a colonoscope with a disposable tube and sheath, which is used for diagnosing and treating abnormalities in the large intestine.
"The financing proceeds will be used to provide growth capital for Sightline to expand its marketing and production infrastructure," said Ari Levy, the company's president, in a news release. "During the next 6-12 months, the company expects to significantly increase its staff, from 30 to 50 employees."
| Issuer: | Sightline Technologies Ltd.
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| Issue: | Preferred stock
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| Round: | D
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| Amount: | $10 million
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| Investors: | NGN Capital (lead), Vitalife, Infinity, Inventech and the Fishman Group
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| Announcement date: | Aug. 23
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