Biofourmis, a digital therapeutics startup has secured $35 million in Series B round led by venture capital firm Sequoia Capital India and US-based Mass Mutual Ventures as per the company’s statement.
The digital platform is used with prescription software that utilizes wearable biosensors to manage and support patients diagnosed with heart failure.
The startup plans to use the funding to expand in the UA and Asia and develop its data science, clinical and regulatory, and sales and operations teams. The company is also aiming to increase its strength by 100 more employees in the Singapore office.
“Our core focus has always been to optimize therapies to augment patient care and health outcomes,” said Kuldeep Singh Rajput, founder and CEO of Biofourmis.
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“The past year was filled with exciting achievements as our team made great strides in advancing our products, in addition to strengthening our regulatory platform and signing contracts with numerous global pharmaceutical firms. Our new funds will allow us to rapidly expand our workforce and commercialization efforts, while further demonstrating the clinical efficacy of our digital therapeutics platform through research and development,” Rajput added.
Sequoia has invested in Mobile analytics and marketing startup CleverTap earlier and has also led a $35.5 million round in mobile sports gaming startup Mobile Premier League.