Fluidnet Corp., a developer of intravenous infusion systems, has reported that the recent $25 million Series C Funding round was led by new investor Fidelity BioSciences. Another new investor, SCP Vitalife Partners, also contributed to the round, along with current investors Cardinal Partners, Easterly Capital and Rockport Venture Partners.
Amesbury-based Fluidnet will use the proceeds from this round (announced without the names of the new investors in a U.S. Securities and Exchange Commission filing last week) to drive its infusion pump technology for the delivery of IV drugs, toward approval and commercialization. Company executives say the new pump will speed up IV therapy-related tasks, improve ease of use in home and clinical settings, and enhance safety. Fluidnet executives say the device targets a $5 billion global market.