Miguel Cordon · · 1 min readHealthtech startup Biofourmis banks $35m, to move base to the US
Singapore-based healthtech startup Biofourmis raised US$35 million in a series B round led by Sequoia Capital India and the venture fund of Massachusetts Mutual Life Insurance Company.
Photo credit: maridav / 123RF
Singapore-based global fund EDBI and Chinese online healthcare platform Jianke also participated in the round, along with existing investors Openspace Ventures, Aviva Ventures, and SGInnovate.
Biofourmis said it will expand its Boston office and move its headquarters there from Singapore. The startup clarified it will continue to develop its activities in the city-state.
With the fresh funds, it looks to advance its proprietary AI-driven therapeutics platform, which treats and manages chronic conditions. Biofourmis also plans to grow its US and Singapore teams to more than 100 employees and further its commercialization efforts in both countries.
In 2018, the company collaborated with healthcare stakeholders, including American Heart Association’s Center for Health Technology and Innovation. It announced a partnership with US medical research institute Mayo Clinic in 2017.
Editing by Charmaine de Lazo
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