Increased Funding in Digital Health

July 9, 2018  Source: MobiHealthNews 241

The digital health world seems to be continuing its rapid growth where around 70 companies' funding results were announced during the second quarter od 2018, totaling to $2 billion. The funders from several international companies are interested to invest specifically in artificial intelligence and telehealth. The top deals were from UK-based AI company Benevolent AI and Chinese healthcare platform WeDoctor. Many Australian and European companies have also stepped in.

Let us have a look at the top 5 digital health fundings for this quarter.

WeDoctor - $500 million

As per reports from Reuters and the Financial Times, the top online healthcare services company in the Chinese market named WeDoctor raised $500 million from investors by selling private shares.

BenevolentAI — $115 million.

BenevolentAI is a UK-based company with expertise in artificial intelligence integration for drug development. They raised $115 million from unrevealed investors in the United States. The existing supporter named Woodford Investment Management also took part in the round, where the company’s total raised funds amounted to around $200 million.

Livongo — $105 million.

Livongo is a digital chronic disease management company that raised $105 million in a Series E funding round, predominantly from current investors. The funding round was led by Swedish investment firm Kinnevik and General Catalyst, where investors such as Merck Global Health Innovation Fund, Microsoft Ventures, Sapphire Ventures, etc. also contributed.

Iora Health — $100 million.

Iora Health is a digitally-enabled primary care provider from Massachusettes in the US and is focused on senior Medicare, declared that it closed at $100 million in Series E financing. Thus the company’s total funding reached $223.5 million.

Doctor On Demand — $74 million.

Doctor On Demand, a telemedicine provider from San Francisco, announced the closure of a $74 million round of Series C financing. Here, the funding round was led by Goldman Sachs Investment Partners and Princeville Global. Previous investors like Shasta Ventures, Venrock, and Tenaya Capital have also taken part.

By Ddu

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