Biofourmis, which blends AI-based data analytics and biosensors to monitor the progress of medical treatments, has raised funding from one of the world’s most high-profile investors. The digital therapeutics fellowship, which launched in Singapore and is now headquartered in Boston, has announced that it closed a $100 million Serials C led by SoftBank Vision Fund 2, with participation from returning investors Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.
The company’s last funding bulletin was in May 2019 for a $35 million Series B led by Sequoia India and MassMutual, the venture capital arm of Massachusetts Mutual Life Insurance Company. To time, the company has raised a total of $145 million.
Biofourmis’ pulpit combinations AI-based health analytics and wearable sensors to help healthcare providers gauge patient progress and the effectiveness of drugs and other managements. The companionship, founded in 2015 by chief executive Kuldeep Singh Rajput and managing director Wendou Niu, said this is the largest funding for a healthtech startup in Southeast Asia to date. In addition to Boston and Singapore, Biofourmis also has positions in Switzerland and India.
Since its Series B funding, Biofourmis has grown through a series of partnerships with seven pharmaceutical companies and 10 health care system, including Novartis, AstraZeneca, and Mayo Clinic. Biofourmis also made various possessions, including wearable biosensor startup Biovotion and Gaido Health, a digital therapeutics corporation for cancer patients.
The funding will be used to validate and generating new digital therapeutic solutions for cardiology, respiratory, oncology and aching therapies to the market. Biofourmis also plans to expand in the United Nation and Asia-Pacific marketplaces including China and Japan.
Biofourmis also said today that it is realigning its internal operations into two verticals: Biofourmis Therapeutics, which marriages with business like AstraZeneca and Chugai to created software that can help increased the efficacy of treat treatments, and Biofourmis Health, a” residence hospital” platform that allows health providers to monitor cases remotely as they transition out of acute care. Biofourmis Health provides information on heart failure, coronary route illnes, respiratory illnesses and cancer.
EDBI is an investment firm linked to Singapore’s government, and looks for startups that can help advance the country’s industries, including healthcare. Biofourmis’ fund from EDBI is a strategic investment, and its technology is being used in Singapore as it copes with repeated outbreaks of COVID-1 9.
Announced last-place July, SoftBank Vision Fund 2 launched with $108 billion to invest in AI-based technology. The first Vision Fund is coping with ponderous loss stemming in large-scale part from its investments in WeWork and Uber, so the implementation of its of Vision Fund 2′ s focus on markets including healthtech( its other investing in the seat include pharmaceutical give startup Altoand life sciences firm Karius) is being closely watched.
In a press statement, SoftBank Investment Advisers partner Greg Moon said,” We accept predictive state is the future of medicine and Biofourmis is a leader in using AI and machine learning-based simulations to advance digital therapeutics .”
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