Biofourmis , an artificial intelligence-supported remote patient monitoring startup, received an investment of 20 million dollars . With the new investment, the total investment amount of the Singapore-based company has exceeded 460 million dollars . This investment was in addition to the Series D investment round announced last April. Intel Capital joined the round led by General Atlantic as a strategic investor. In addition, it was announced that former Tenet Healthcare President and CEO Trevor Fetter and SCAN Group President and CEO Sachin H. Jain joined the board of directors of the company, whose market value increased to $ 1.3 billion.
Biofourmis was launched in 2015 by Kuldeep Singh Rajput and Wendou Niu. The company’s goal is to use artificial intelligence to monitor patients remotely and detect diseases early, and to create long-term solutions for chronic diseases. The company works with pharmaceutical companies to monitor patients taking certain drugs. Focusing on managing home patient care, Biofourmis collaborates with healthcare institutions and insurance companies.
The company, which received FDA approval in 2019, currently has offices in Switzerland and India, in addition to Boston and Singapore. Business partners of the initiative include companies such as Novartis, AstraZeneca and Mayo Clinic.
Last July, remote patient monitoring platform Summer Health announced that it has received a seed investment of $7.5 million . The $7.5 million investment round was led by Alfred Lin of Sequoia Capital and Deena Shakir of Lux Capital. Other participants in the seed investment round included Tur, Box Group, Metrodora Ventures, Shrug Capital, Springbank Collective, Coalition Operators, Moving Ventures.
The company, which started operations in 2021, is basically described as a messaging platform. The platform that provides communication between pediatricians and their families was founded by Ellen DaSilva. DaSilva was inspired by the problem she had with her two-year-old son. Parents contact doctors within 15 minutes. Doctors offer advice on the diagnosis, follow-up and treatment of diseases such as Covid-19, colds, stomachaches, eating disorders, and earaches 24/7.