Healthtech startup Biofourmis raises US$35m in Series B funding

HEALTHTECH startup Biofourmis has clinched US$35 million in a Series B equity financing round led by Sequoia India, part of Sequoia Capital, and MassMutual Ventures SEA, the venture fund of Massachusetts Mutual Life Insurance Company .

The fresh capital will be used to expand Biofourmis' operations and enhance its products. The Singapore-based firm also intends to increase its employee headcount to more than 100 in both the United States and Singapore by the end of 2019. It plans to grow its teams focused on data science, clinical and regulatory, and sales and operations as well as expand its Boston office to accommodate at least 45 employees from the current 12 based in the US.Biofourmis will continue developing its product and treatment algorithms via a biopharmaceutical approach such as conducting randomised clinical trials and demonstrating safety and efficacy.

Insurance providers could then reimburse the treatment, just as they do with pharmaceuticals and therapeutic medical devices.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Edtech startup Cialfo raises US$3m in Series A funds for US expansionCIALFO, a college admissions platform headquartered in Singapore, has raised US$3 million in equity for its Series A round led by DLF Venture, with support from Enterprise Singapore investment arm Seeds Capital, YK Capital and angel investors. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Singapore edtech startup Geniebook raises S$1.5m in Pre-Series A roundSINGAPORE edtech startup Geniebook has raised S$1.5 million in a Pre-Series A funding round led by Apricot Capital, a diversified multi-asset private investment company based in the Republic. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

YouTrip eyes Asean expansion with US$25.5m pre-Series A fundsSINGAPORE-BASED mobile wallet operator YouTrip bagged US$25.5 million in pre-Series A funding from Asian family offices and venture firm Insignia Ventures Partners, the startup announced on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Asian family offices, Insignia bless YouTrip with US$25.5m pre-Series A fundingIT MAY seem unconventional for an early-stage startup to receive strong backing from family offices. But YouTrip, a Singapore-based mobile wallet operator, sees this 'patient capital' as a strength as it embarks on South-east Asian expansion. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Temasek's Vertex raises US$230m for fourth South-east Asia fundVERTEX Venture Holdings raised US$230 million in the first close of its fourth South-east Asian fund to back technology startups across the region and India. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Temasek’s Vertex raises US$230m for fourth South-east Asia fund[SINGAPORE] Vertex Venture Holdings raised US$230 million in the first close of its fourth Southeast Asian fund to back technology startups across the region and India. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

S’pore fintech firm YouTrip bags $35m in fundingSingapore-based payment services company YouTrip has raised US$25.5 million (S$35 million), becoming the latest financial technology (fintech) start-up here to benefit from heightened investor interest in recent months. The investment - YouTrip's first from venture capital...
Source: thenewpaper - 🏆 7. / 63 Read more »

honestbee focusing on fund raising and righting its shipTROUBLED grocery-delivery startup honestbee appears to be jettisoning excess cargo as it seeks fresh capital and rights its course as an online-to-offline retail play. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »