Medtronic-backed EarLens, which is developing a hearing aid that uses infrared technology, says it’s raised $36 million of a hoped-for $38 million. EarLens said it raised some $36 million in an equity round for the hearing aid technology it’s developing that uses infrared rather than sound waves. The Redwood City, Calif.-based company, which is led by a former Abbott Vascular honcho, said 22 unnamed investors had participated in the round as of Feb. 24. EarLens is hoping to raise a total of $38.8 million, according to a regulatory filing.
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