Last Week in Digital Health Funding: Jul 8 – Jul 14
The following companies raised funds during the past 7 days: Procyrion, GNS Healthcare, HealthAssure, Stratasan, Fourier Intelligence and TrueCoach.
Medical device company Procyrion raised $30M in Series D funding. The company is developing its Aortix system, a percutaneous blood pump initially targeted for treating patients with heart failure and worsening kidney function (cardiorenal syndrome). The investment will fund the pilot study through the activities needed to support the submission of an FDA IDE application for its pivotal trial. Bluebird Ventures led the round, with participation from Fannin Partners, Scientific Health Development, the State of Texas, and an undisclosed strategic investor. To date, Procyrion has raised more than $59 million in funding. read more.
Precision medicine company GNS Healthcare raised $23M Series D. The company’s “causal AI” technology transforms data streams into in silico patients that precisely match therapeutics, procedures and care management interventions to individuals to drive personalized clinical care and medicine and improve health outcomes. The financing round was led by Cigna Ventures, with participation from Amgen Ventures, Celgene, Echo Health Ventures, Alexandria Venture Investments, as well as former Caesar’s CEO and Aetna Division President Gary Loveman. read more.
India’s healthcare aggregator HealthAssure raised $2.5M in Series A funding. The company specializes in aggregation of primary care network, providing access and discount for corporates, insurers and individuals to a medical network of 4,000 primary care across 1100+ cities in India. It plans to use the funds to further build its platform, and accelerate its business through both organic and inorganic routes to unlock the opportunity for growth across India and Asia Pacific markets. Blume Ventures provided the funds. read more.
Nashville-based healthcare data analytics software provider Stratasan secured $26M. The company provides market intelligence to hospitals and healthcare systems, equipping them to make better strategic growth decisions. Its solution serves as a hub for business development intelligence, offering access to all-payer claims data (APCD) and curates, aggregates, and supports the use of state, EMR, and Medicare data, within the platform. Stratasan will use the capital to further expand its product offerings as well as invest in its sales, marketing, and customer success teams. The investment round was led by Fulcrum Equity Partners with participation from Frist Cressey Ventures, Blue Heron Capital, Bridge Bank and the company’s management. read more.
Chinese rehabilitation robots developer Fourier Intelligence closed Series B round. Founded in 2015, the company is headquartered in Shanghai, with offices in Singapore and Australia. Over 400 hospitals and research institutes have installed technologies developed by Fourier Intelligence across more than 15 countries. The company aims to transform rehabilitation through its innovative robotic ecosystem that complements conventional therapy. The funds will be invested to expand Fourier’s product line, develop its intelligent rehabilitation robotic platform and consolidate its leading market position. Guozhong Venture Capital led the round, with participation from existing investors IDG Capital and Volcanics Venture. read more.
Personalized coaching platform TrueCoach raised $2M in seed funding. The company has developed a software for coaches and personal trainers that lets them manage and scale their client loads. Coaches are able to upload videos and store them privately, message clients and track their progress in exercise, nutrition and compliance. TrueCoach operates in 80 countries, and plans to use the funds to hire in engineering and customer success people. Eric Roza led the round, with other angel investors also participating ‐ including executives from Evercommerce, Moat, Adobe and Amazon. 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.