Svelte Medical Systems, a developer of highly deliverable balloon expandable stents, has raised about $22 million in a new round of funding led by CNF Investments and New Science Ventures, bringing a total of approximately $65 million invested into the company since its inception in 2007. Svelte will use the proceeds to complete a DIRECT II study, prepare for commercialization of its drug-eluting coronary stent Integrated Delivery System and Rapid-Exchange platforms in Europe, and expand overall operational infrastructure. Among Svelte’s previous funding rounds was a $4.15 million Series B investment that valued the company at $70.7 million in 2010.
Svelte Medical Systems is the fifth U.S.-headquartered surgical devices company to receive VC funding in the last month alone, according to the PitchBook Platform. Overall, 2013 has seen 38 such companies complete deals, totaling nearly $669 million of capital invested. The largest financing this year belongs to ConforMIS, which raised a $167.7 million Series E round in August. Other surgical devices companies landing major VC coin this year include LensAR (an $87 million financing in October) and CardioKinetix (a $48 million financing in February).