3D visualization firm Synaptive Medical has received $25 million from the first round of a new preferred equity investment.
The investment round was led by Canadian manufacturer Linamar and existing investor Audible Capital, with additional participation by a mix of both existing and new investors, according to Synaptive. Linamar has also signed a manufacturing agreement with Synaptive.
As part of the round, approximately $50 million of Synaptive's debt was converted into equity. In connection with the preferred share financing, Linamar CEO Linda Hasenfratz and Brad White of Audible Capital have joined Synaptive's board.
Synaptive said it would use the funds to expand the availability of its automated cranial and spinal equipment and software.
