RESEARCH TRIANGLE PARK, NC – Drug device maker Mustard Tree netted another cash infusion, this time raising $1.4 million in an equity round.
The Research Triangle Park-based company, which expanded into 14,000 square feet of office and research space in 2011, hadn’t responded to requests for comment.
A securities document filed this month shows the company is looking to raise an immediate $705,000 more. Twenty-seven total investors, including two who don’t qualify as accredited investors, have participated in this latest round.
The CEO is listed as Jeffrey Welker. Former CEO Todd Blonshine is listed in the filing as a director.
The company created a drug analysis device the size of a coffee maker aimed at being used on factory floors of drug manufacturers.
Mustard Tree, founded in 2009, has pulled in nearly $2 million in total venture financing.