Titan Medical (TSX:TMD) said today that it closed a stock offering worth about $7 million for the Sport robot-assisted surgery platform it’s developing.

The round consisted of two tranches, according to Toronto-based Titan: an initial round worth $5.7 million (C$7.3 million) and a subsequent $1.3 million (C$1.7 million)  tranche, for gross proceeds of roughly $7.1 million (C$8.9 million).

Funds from the offering will be used to continue support of its Sport robotic surgical system, according to a company press release, as well as to support working capital and other general corporate purposes.

Earlier this month, Titan Medical said it inked a collaborative deal with Florida Hospital Nicholson Center to engage in a feasibility and validation study of Titan’s Sport robotic surgical system as the company seeks regulatory approval for the platform.

($1 = C$1.24582)