The PR refers to raising 3 mil and non affiliated MDs in the same sentence. Not a stretch for someone to construe or mis-construe intended meaning. With that said, no confirmation of funding raised or committed. My reference to customer is we supply product and customer buys. Many suppliers get funding from a customer that becomes a key investor.
Institutional investor broadly means a financial lender /investor who provides capital as part of their business model, whether private equity, commercial lending, VC etc.