Singapore-founded healthtech startup Biofourmis on Thursday announced that it closed a USD 100 million Series C round led by SoftBank Vision Fund 2. The investment nearly triples the firm’s valuation to USD 700 million, according to Bloomberg. Other participants include existing investors Openspace Ventures, MassMutual Ventures, Sequoia Capital, and EDBI.
Biofourmis intends to use the fresh capital to accelerate its expansion and develop more digital therapeutics solutions.
Founded in 2015, Biofourmis was initially based in Singapore before moving its headquarters to Boston in 2019. The startup utilizes AI and machine learning to deliver software-based, data-driven therapies that enable personalized predictive care.
The firm has also restructured its internal operations. Its new business structure will comprise two verticals: Biofourmis Therapeutics, which focuses on producing digital therapies, and Biofourmis Health, which centers on virtual care models that allow patients to be monitored remotely.
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