RALEIGH – Raleigh startup Sprout Pharmaceuticals has added another $2.9 million in funding, according to an SEC filing.
The company last added more than $12.6 million in debt funding to the round in May, following a round of $4.27 million in September 2021 and the original funding in December of 2020 of more than $8.1 million according to an SEC filing.
The latest filing, signed by Matthew Petzold, the company’s chief financial officer, notes that the company has landed investment from 91 investors thus far under the round, with no minimum investment. As of the May 2022 amended filing, 85 investors had participated, meaning that the company raised $2.9 million from six investors since the date of the last amended filing.
In addition to debt, the filing notes that convertible notes are used as a funding type and that the company may use as much as $1.6 million of the funding raised for “normal payroll and benefits costs of officers who are also employees of the Issuer.”
According to the amended filing, associated with “Sprout2 Inc.”, the company could raise up to $30 million.
The company has not been contacted by WRAL TechWire for comment.
Raleigh’s Sprout Pharma’s funding round surpasses $25M raised with 85 investors so far
