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Independa closes $5M in preferred stock financing

San Diego-based Independa, a provider of integrated "cloud-care" solutions for the elderly, has closed its Series A preferred stock financing round at $5 million after receiving new investments to fund expanded sales, research, development and distribution of its technology-enabled independent-living solutions.

The latest funding comes from health care investment firm City Hill Ventures, a previous investor, and strategic partner LG Electronics USA, with participation by additional investors. The respective amounts of investment from these sources were not disclosed.

The round also included the conversion of the company's convertible note totaling $2.35 million, announced last April.

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