Cytoville, Inc. announced that it has received $12.25 million in funding from Eight Roads Ventures, Easy Prosperity Limited, F Prime, Inc., and other investors

In October 2015, Cytoville, Inc. closed the transaction. The company issued 24,500,000 shares for gross proceeds of $12,250,000 in the transaction led by Easy Prosperity, Impresa Management LLC, and new investor, Eight Roads Ventures. The company issued 11,025,000 shares in last tranche.

Series A shares carry non-cumulative dividend of 8% per annum and shares will be redeemable. Preferred shares will be convertible into common shares at $0.50 per share. The round was raised at post-money valuation of $12,250,000.

The company incurred $89,000 issuance cost.