Independa announced it closed a Series A Preferred Stock financing at $5 million to expand sales, research and development, and distribution of its technology to provide independent living solutions.
The funding comes from City Hill Ventures, a previous investor, and strategic partner LG Electronics USA, with participation by additional investors. The respective amounts of investment from these sources were not disclosed. The round also included the successful conversion of the company’s convertible note totaling $2.35 million, announced last April.
Independa, a provider of Integrated CloudCare solutions for the elderly, and LG Electronics announced a strategic technology alliance in January 2012 to offer social engagement and telecare-related capabilities via TVs to residents of senior living communities.
The strategic relationship with LG offers Indepnda’s Angela platform on commercial televisions, designed for a range of healthcare applications that serve the unique needs of senior communities.
Angela proactively supports independent living by providing seniors with single-click access to multimedia communication, social interaction and a wide range of features designed to help care recipients stay at the residence of their choice longer, safer and more comfortably.
“Our Series A investors have strongly affirmed Independa’s progress to date and recognized the deep impact our cloud-based technology will be having in technologyenabled independent living,” Saneii said. “The caliber of the organizations and individuals involved in our Series A round is simply outstanding and enables us to most effectively pursue our market opportunities.”
Written by John Yedinak