Last Week in Digital Health Funding: Nov 4 – Nov 10
The following companies raised funds during the past 7 days: Healthify, Activ Surgical, Medopad, Scanwell Health, PathAI, AiCure, Shape Therapeutics, Human Longevity, and Katalyst.
Healthify raised $16M Series B to integrate health and social services. Founded in 2013, Healthify is integrating the social determinants of health (SDoH) in the era of value-based healthcare. The latest round of funding &mdash provided by SV Health Investors and existing investors like BlueCross BlueShield Venture Partners (BCBSVP) — provides strategic capital to fuel the company’s rapid growth as it continues to bring healthcare and social service organizations together in accountable networks. Specifically, it will use the money to help deepen relationships with current clients and drive new growth in additional locales, like Kansas City, Phoenix, Cincinnati, and more. To date, Healthify has raised over $28 million through investments, grants, and awards. • read more.
Activ Surgical raised $11M Series A as it readies for 2020 commercial launch. Founded in 2017, Activ Surgical is a digital surgery company focused on improving surgical efficiency, accuracy, patient outcomes and accessibility for both endoscopic and robotically-assisted procedures. The company’s scalable and patent-protected surgical software platform is driven by computer vision, AI, analytics and machine learning to enhance a surgeon’s intra-operative decision making, and reduce unintended and preventable surgical complications. Activ Surgical will use the funds to accelerate commercialization of its technology. The round was led by DNS Capital, with participation from GreatPoint Ventures (GPV), Tao Capital Partners, SONY Innovation Fund, Rising Tide Financial, WS Investment Company and Mintz. • read more.
London, UK-based Medopad raised $25M Series B to detect chronic diseases using AI and big data. Medopad connects patients with a range of medical professionals and aims to “understand, treat, and ultimately prevent ill health.” At the heart of its platform is an app that integrates health data from medical bodies, mobile devices, and patient wearables. By applying AI to large data sets, Medopad says it can generate predictive insights that may detect medical conditions. The round was led by Leaps by Bayer, the VC arm of German pharmaceutical giant Bayer, with participation from NWS Holdings and Healthbox, among other investors. • read more.
Modern diagnostics company Scanwell Health raised $3.5M in seed financing. Scanwell Health aims to make healthcare more accessible through smartphone-enabled diagnostics. The company has developed the only FDA cleared over-the-counter urine testing app and test kit for urinary tract infections (UTIs). Using Scanwell, people can test from anywhere with their smartphone and immediately be connected to a telemedicine provider for treatment. This innovative approach allows people to avoid the time and expense of in-person doctor visits without sacrificing quality of care. Scanwell will use the funds to support its national launch, develop new diagnostics, and hire additional team members. Participants in this round include the Founders Fund, Mayfield, DCM, Version One, Y Combinator and Joe Montana’s Liquid 2 Ventures. • read more.
PathAI announced strategic investment from Merck Global Health Innovation Fund and Bristol-Myers Squibb to complete $75M Series B. The company has developed a platform that provides end-to-end data-driven pathology analysis, resulting in fast, accurate and standardized pathologic diagnoses. It will use the funding to bolster and accelerate its growing clinical development capabilities. The investment also serves to deepen PathAI’s relationship with Merck and Bristol-Myers Squibb in the development of cancer therapies. It brings total investment in PathAI to over $90M since its founding in 2016. • read more.
Human Longevity raised $30M to renew its commitment to longevity and precision health. The company has developed a data-driven precision health intelligence platform for physicians and patients, and will use the funds to enhance its Health Nucleus intelligence platform, which is using integrated metrics derived from specialized imaging, whole genome sequencing and other lab tests with machine learning and AI to create a comprehensive standard for measuring your health and performance. The funds were provided by rxisting investor Emerging Technology Partners and other new dedicated healthcare investors. • read more.
Fitness startup Katalyst raised $5.6M for an electrified workout experience. The company has developed an at-home workout program that uses full-body electrical muscle stimulation (EMS), a training technique that’s popular in countries such as Germany, Japan and Brazil. Katalyst’s business model is similar to Peloton, offering high-end hardware and a subscription to on-demand virtual workouts. The company has FDA approval for the studio version of its EMS system and is awaiting approval on the home version. It hopes to start accepting orders in the next month and to ship in early 2020. The round was led by London-based investor Octopus Ventures. • read more.
Healthcare-focused AI company AiCure raised $24.5M Series C. Founded in 2010, AiCure uses artificial intelligence to see, hear and understand how people respond to treatment across clinical trials and patient care. Clinically proven to accurately measure and modify patient behavior, AiCure’s technologies keep patients engaged and optimized to treatment, as well as assess treatment effectiveness. The investment will accelerate the company’s commercial, engineering, and research and development activities in order to advance research-grade data insights for life science companies. The financing was led by Palisades Growth Capital (PGC) with new investors from Singtel Innov8 (Innov8), Asahi Kasei Corporation, Accelmed Growth Partners, and SpringRock Ventures. Participants in this round included all prior institutional investors, including Baird Capital, New Leaf Venture Partners, the Pritzker Group, Biomatics Capital, Tribeca Venture Partners, and Silicon Valley Bank (SVB). • read more.
Biotechnology company Shape Therapeutics raised $35.5M Series A. Shape Therapeutics, also known as ShapeTx, is a development-stage biotechnology company leading the field of RNA-editing gene therapy. The new capital will enable the company to extend its growing portfolio of intellectual property, recruit and hire top scientific talent and advance its groundbreaking RNA and protein targeting platforms focused on curing human diseases. These platforms include the proprietary ShapeTx RNAfix technology that enables direct in vivo targeting and modification of RNA by leveraging proteins such as Adenosine Deaminases Acting on RNA (ADARs), suppressor tRNAs, and engineered adeno-associated viruses (AAVs). The RNAfix platform differentiates from other contemporary genome engineering technologies by engaging natural human cellular machinery to modify RNA. The financing was led by New Enterprise Associates (NEA), with additional participation from CureDuchenne Ventures. • 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.