Editor’s Note: This roundup is intended to highlight some of the month’s most notable funding rounds and is not intended to be exhaustive.
Health technology companies made several major funding announcements in October. Here is a list of some of the largest funding rounds.
ŌURA obtains 900 million dollars
ŌURA, founded in Finland in 2013, offers a wearable smart ring called Oura Ring, as well as an accompanying app. The ring provides personalized information and guidance on sleep, activity, preparedness, stress, resilience, women’s health and heart health. people can buys an Oura ring from $349.
The $900 million financing was led by Fidelity Management & Research Company and included participation from ICONIQ, Whale Rock and Atreides. To date, ŌURA has raised $1.5 billion and the company is now valued at $11 billion. The funding will be used to advance artificial intelligence and product innovation and expand global distribution, the company previously told MedCity News.
Lila Sciences secures $350 million Series A
Lila Sciences is developing a “scientific superintelligence” platform that merges AI with autonomous laboratories to accelerate scientific discoveries. The company aims to enable faster advances in medicine, materials and sustainability.
The company announced its Series A in two parts: first $235 million in September and then $115 million in October. Its investors include Braidwell, Collective Global, NVentures (the venture capital arm of NVIDIA), Analog Devices, IQT, Dauntless Ventures, Catalio Capital Management and Pennant Investors. In total, the company has raised $550 million, which will be used to expand its AI-powered scientific factories and open its platform to commercial partners.
DUOS raises $130 million
Headquartered in Minneapolis, DUOS supports patients and their caregivers by addressing health-related social needs and connecting members to care. DUOS contacts eligible health plan members via text, email or postal mail to inform them of the benefit and invite them to enroll. Members can then share their top social and care-related needs, such as access to food or transportation, and DUOS connects them with relevant resources and providers based on their coverage, location, and individual circumstances.
Its $130 million raise was led by FTV Capital and included participation from Forerunner Ventures. In total, the company has raised $163 million. The funding will be used to advance its platform and improve its artificial intelligence capabilities.
MD Integrations obtains 77 million dollars
New York-based MD Integrations is a telehealth infrastructure company that enables digital health brands to quickly launch, operate and scale virtual care services. It offers a national network of physicians and enables a variety of specialties, including weight management, longevity, dermatology, women’s health, men’s health and urgent care.
Is Increase of 77 million dollars was from Updata Partners and Denali Growth Partners. With the financing, the company “will continue to expand its partner and customer base with high-quality care, deepen its nationwide physician network, expand its pharmacy and diagnostic integrations, and accelerate innovation in its highly configurable API platform,” the company said in its announcement.
Photo: nito100, Getty Images
