ClaroNav, a Toronto, Canada-based medical device company, secured quasi-equity financing from the Growth and Transition Capital team of BDC Capital, the investment arm of BDC.
The amount of the deal was not disclosed.
The company plans to use these funds to expand the global marketing, training, sales and support activities for its flagship Navident product, which has regulatory clearance in the U.S., Europe, Canada and other countries.
Led by Claudio Gatti, co-founder and co-CEO, ClaroNav provides Navident, a tool that uses volumetric medical images (CBCT) and real-time movement tracking to allow dentists to place implants precisely, less invasively and more efficiently.
The company was spun out as an independent business in 2015 when Lexmark purchased Claron Technologies, which Gatti and his partner Doron Dekel founded in 2001.