Last Week in Digital Health Funding: Jul 15 – Jul 21
The following companies raised funds during the past 7 days: Vivante Health, Mahmee, WAVE, POPS! Diabetes Care, Capital Rx, Notable Labs, Recursion Pharmaceuticals, DEARhealth, Neocis, Vine Health and UpLift.
Rock Health invests in Vivante Health. Vivante has developed what it says is the first all-in-one digital solution for digestive health and complex inflammatory conditions. Called GIThrive, it is comprised of microbiome testing and real-time remote gut health monitoring via a connected non-invasive sensor; 24/7 on-demand gut-side assistance from a coordinated care team; and personalized nutrition advice based on the user’s preferences, care team recommendations, and data-driven feedback over time. Terms of the deal were not revealed. • read more.
Obstetrics startup Mahmee raised $3M to connect maternal care teams. The company has developed a secure care management platform that makes it easy for payers, providers, and patients to coordinate comprehensive prenatal and postpartum healthcare from anywhere. Mahmee’s network already includes more than 1,000 providers, and funds from the seed round will be used to grow the team ‐ hiring engineers, clinicians and sales staff. ArlanWasHere Investments led the round with participation from billionaire Mark Cuban, Serena Williams’ Serena Ventures and Revolution’s Rise of the Rest Seed Fund. • read more.
Meditation app WAVE launches with $5.65M in Seed funding. The company’s offering mixes guided meditation with music on an app, and a pillow that vibrates according to the beat. The app is $9.99 a month, whereas the pillow is offered for $199 and includes over-ear headphones. WAVE did not outline any specific plans what it will do with the money; chances are it will go towards hiring more people and marketing. The funds came from a group of investors, including CrossLink Capital, Lerer Hippeau Ventures, Collaborative Fund, and Ludlow Ventures. • read more.
POPS! Diabetes Care raised $6M in Series A round. The company will use the proceeds to further fund commercialization of its FDA approved POPS! one System. The system, commercially launched in early 2019, combines one of the simplest ways to measure blood glucose with digital coaching to enable people to manage their condition on their phone. Early clinical results demonstrate a 1-point drop in A1c when using the system. 30Ventures led the round, with participation from Revolution’s Rise of the Rest Seed Fund and Flying Point Industries. • read more.
Capital Rx raised $12M from Edison Partners. The company is a next generation pharmacy benefits manager, overseeing prescription benefit plans on behalf of employers, unions, and government entities. It will use the funds to accelerate go-to-market execution and bolster its technology platform to transform the $500 billion pharmaceutical benefits management (PBM) industry. Said platform enables Capital Rx to deliver data-driven insights and actionable strategies that reduce costs, while improving patient outcomes. • read more.
Notable raised $40M Series B for its drug discovery platform for personalized oncology. The company has developed a clinically validated platform that rapidly advances cancer drug development at a fraction of traditional costs. Notable’s approach combines AI with an automated lab to determine which drugs or combination of drugs will be most effective for specific types of cancers, enabling drug companies to recruit the right patients into clinical trials. B Capital Group and LifeForce Capital co-led the round, with participation from Industry Ventures. To date, Notable has raised over $55 million. • read more.
Recursion Pharmaceuticals raised $121M Series C for its drug discovery platform. The company combines automated, experimental biology with artificial intelligence to discover and develop drugs at scale. It will use the funds to support the advancement of its machine learning-enabled platform and first two clinical-stage programs. Baillie Gifford’s Scottish Mortgage Investment Trust PLC led the round with participation from Intermountain Ventures, Regents of the University of Minnesota, Texas Tech University System, and select angel investors. All prior institutional investors also participated in the round ‐ including Lux Capital, Data Collective, Mubadala Ventures, Two Sigma Ventures, Obvious Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures, and CRV. • read more.
DEARhealth, a health tech spin-out from the UCLA, raised $6.8M Series A. The company offers AI-powered health pathways for chronic care, combining medical knowledge and patient data to predict the best care pathway with the lowest risks. With the prediction doctors can easily adjust the care pathway to navigate away from risk, when the patient’s condition changes or following unexpected test outcomes. DEARhealth will use the funds to scale implementation of its health technology offering to more hospitals, thus significantly enhancing Value Based Health Care. It will also expand operations to Europe, opening their European headquarters in Amsterdam, The Netherlands. Philips Health Technology Ventures, Vesalius Biocapital III and Health Innovations contributed to the financing round. • read more.
Miami, FL-based Neocis raised $30M to commercialize its robotic surgery tech. The company manufactures and markets Yomi, which is dubbed the first and only robot-assisted surgical platform for the dental industry. Cleared by the FDA, Yomi is indicated for use to provide assistance in both the planning (pre-operative) and the surgical (intra-operative) phases of dental implantation surgery. Neocis will use the funds to support expanded commercialization and R&D efforts. The round was raised from existing investors, including Mithril Capital Management, and joined by new investor Norwest Venture Partners. • read more.
Cancer care tech startup Vine Health secured £1.2M in seed funding. Founded by Rayna Patel, a Cambridge-trained doctor and NHS England Clinical Entrepreneur, and Georgina Kirby, a data scientist & former VP of leading health tech startup Touch Surgery ‐ Vine is an AI-enabled digital health platform to support cancer patients during and after treatment. The companion mobile app allows patients to track, understand and optimise their care, supporting them to feel in control and better self-manage. The company will use the funds to develop its platform and make key hires at its London-based headquarters. Playfair Capital led the round, with participation from Entrepreneur First, Ascension Ventures, Tiny VC and a number of well known angel investors ‐ including Simon and Michael Blakey and Pam Garside. • read more.
Depression app UpLift raised $1M. The company is offering a digital Cognitive-Behavioral Therapy (CBT) program for depression with 12 interactive sessions and a mood-boosting toolkit. The funds will be used to accelerate UpLift’s development and improve core technology, while also building out new features like an enhanced gamification system, the ability to connect with a coach, and more evidence-based and personalized activities to improve users’ mood. Laidir Foundation, a Washington-based R&D organization, led the round. • read more.
Please note that this list represents only the digital health deals that caught our eye in the past 7 days. There may be other deals we are not aware of or those which we don’t think fit the “digital health” category.