The proceeds will be used to enhance its AI digital therapeutics platform.
Singapore-based healthtech startup Biofourmis has raised $35m in a series B round led by Sequoia India and MassMutual Ventures SEA to enhance its proprietary AI-powered digital therapeutics platform.
The startup is also seeking to relocate its headquarters from Singapore to Boston where it will expand its commercialisation efforts. By the end of 2019, the company aims to grow to more than 100 employees in the United States and Singapore.
"Our new funds will allow us to rapidly expand our workforce and commercialisation efforts, whilst further demonstrating the clinical efficacy of our digital therapeutics platform through research and development," Kuldeep Singh Rajput, founder and CEO of Biofourmis said in a statement.
Established in 2015, Biofourmis combines AI, therapeutic interventions, a patient-facing companion app, and wearable biosensors to provide users with actionable and personalised healthcare insights which is used in tandem with prescription software Biovitals. The bionsensors remotely monitor and analyse physilogical signals, the AI-powered technology can help predict adverse medical events and patients can easily adhere to the care plan through the smartphone app.
Singapore government-linked strategic investor EDBI, Chinese online healthcare platform Jianke also participated in the round, and existing investors like Openspace Ventures, Aviva Ventures and SGInnovate participated in Biofourmis' funding round.
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