Sofinnova Partners New $200 Million Digital Health Fund

Triveni Bio , a startup based in Waltham, Massachusetts, with a six-year history, is actively engaged in the development of medications targeting conditions like eczema and #asthma. In a recent milestone, the company secured an impressive $92 million in funding through a Series A round. This funding round was co-led by Atlas Ventures and Cormorant Asset Management, LP , and it also saw additional participation from investors, including OrbiMed , Viking Global Investors , Invus , Polaris Partners , and Alexandria Venture Investments.

Covera Health , a startup based in New York with six years of experience, focuses on harnessing the power of #AI and data analytics to assist #radiologists in enhancing their diagnostic accuracy and minimizing misdiagnoses. The company recently secured a noteworthy $50 million in a Series C extension round, with the leading role in this transaction played by Insight Partners , a previous investor.

Abridge , a startup based in Pittsburgh with five years of experience, specializes in creating software that transcribes confidential conversations between doctors and patients in compliance with #HIPAA regulations. In a recent milestone, the company secured an impressive $30 million in funding for its Series B round, with Spark Capital as the primary investor. Additionally, previous investor Bessemer Venture Partners continued their support. To date, Abridge has accumulated $62.5 million in funding.

Engine Biosciences , a startup that has been in operation for nine years and has its roots in both Singapore and Redwood City, California, is making significant strides in the field of precision #oncology medicine by harnessing the potential of machine learning and biology. In a recent development, the company secured a substantial $27 million in a Series A extension round, with Polaris Partners taking the lead. Additionally, Coronet Ventures and SEEDS Capital , along with previous investors ClavystBio , Invus , and EDBI, also contributed to this funding round. To date, Engine Biosciences has raised $86 million in funding.

Neuros Medical, Inc. , an established company with 15 years of experience headquartered in Aliso Viejo, California, is dedicated to addressing chronic post-amputation pain. The company recently secured a substantial $25 million funding round, with Trinity Capital taking the lead as the primary investor.

Inocras Inc. , a young startup based in San Diego specializing in creating genomic tests to improve decision-making in #cancer care, recently secured a substantial $23 million in funding for its Series B-2 round. Notable investors, including Samsung Ventures , ?????? (Asan Nanum Foundation) , SCL Group , and Ignite Innovation prominently backed this funding.

Free Market Health , a Pittsburgh-based startup with four years of experience, collaborates with #healthcare payers to offer consumers affordable medication access. In a recent development, the company secured a substantial $20 million in a Series B funding round, with Questa Capital Management taking the lead. Additionally, Alta Partners , Highmark Ventures, and 653 Investment Partners also participated in this funding round.

Betteromics , a startup located in Redwood City, California, with three years of experience, is dedicated to aiding laboratory professionals in efficiently managing extensive data through advanced computational and AI methods. In a recent development, the company secured a substantial $20 million in funding through a Series A round, with co-leaders Sofinnova Partners and Triatomic Capital and participation from Shakti.

Aqtual, Inc. , a startup located in Hayward, California, with five years of experience, is actively utilizing its cell-free DNA platform to create innovative products focused on #chronicdiseases and #oncology. Recently, the company secured an impressive $16 million in funding through a Series A round. This funding round featured notable investors such as Genoa Ventures , Manta Ray Ventures, and Yu Galaxy.

Heidi Health , a startup from Melbourne with four years of experience, is focused on easing the administrative burden on healthcare professionals. They achieve this by employing AI technology to transform consultation transcripts into various documents such as case histories, referral letters, and financial forms. In a recent development, the company secured a substantial $6.3 million in funding for its Series A round. This funding was led by Blackbird Ventures and featured participation from Hostplus , Vesta , Wormhole Capital , Archangel Ventures , Possible Ventures , and Daniel Ventures. To date, Heidi Health has raised $10 million in funding.

Yuzu Health , a startup based in New York with just one year of operation, aims to assist small businesses in providing more cost-effective health plans tailored to their employees' requirements. In a recent development, the company successfully secured a $5 million seed funding round, with Lachy Groom taking the lead as the primary investor. Additionally, Neo, Day One Ventures , Altman Capital , WndrCo , and Browder Capital also participated in this funding round.

Almouneer , a startup originating from Egypt with six years of experience, is actively developing a platform aimed at treating #diabetes and #obesity within the regions of Africa and the Middle East. In a recent development, the company raised $3.6 million in seed funding, with Global Ventures as the primary investor. Additionally, Proparco , Digital Africa , and Wrightwood Investments also participated in this funding round.

Midas Healthcare, a startup based in Cleveland, specializes in creating a wheeled workstation designed to assist healthcare professionals in safely disposing of excess medications. In a recent development, the company secured a $2 million funding round from MCPC Healthcare Investment, bringing its total raised funds to $3.2 million.

Funds

Sofinnova Partners recently concluded the fundraising for a new $200 million fund dedicated to making investments in the #digitalhealth sector from seed to later stages. This fund will specifically target enabling technologies, analytics, and treatment within the healthcare industry. With this addition, the French firm's total assets under management now stand at $2.65 billion.

LeverageVC , a New York-based firm specializing in seed-stage investments within the gaming, #mentalhealth, and #eldertech sectors, successfully raised a $10 million fund.

News

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