Friday, February 10, 2023

Operations AI startup Qventus scores $50M and more digital health fundings

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Qventus, which offers an artificial intelligence platform for managing operations and patient flow, announced Monday it had raised $50 million in growth funding.

The round was led by private equity firm Thomas H. Lee Partners and strategic investor Premier. Other participants include Thedacare, Bessemer Venture Partners, Mayfield Fund and Norwest Venture Partners.

The investment and partnership with Premier will help the company to expand its AI platform for more health systems across the U.S. According to Crunchbase, the startup has now scooped up more than $95 million. It last raised $30 million in Series B funding in 2018. 

“Our care operations automation software relieves some of the largest operational and financial pressures facing hospitals and health systems today,” cofounder and CEO Mudit Garg said in a statement.

“We are excited to partner with world-class investors who bring domain and operational expertise in scaling automation technology businesses. Our partnership with THL and Premier will enable us to expand our product vision, enhance our market presence, and help care teams deliver world-class healthcare to patients across the country.”

Kintsugi, a startup that aims to identify signs of depression and anxiety using vocal biomarkers, scored $20 million in Series A funding. The latest round comes about six months after the company announced it had raised $8 million in seed funding

The Series A was led by Insight Partners, with participation from Acrew Capital, Darling Ventures, Citta Capital, Side Door Ventures, Primetime Partners, IT Farm, AngelList Fund and Alpha Edison. 

“Kintsugi provides a sense of empowerment from patients to providers to payers and everyone in between who has a stake in patient outcomes,” Kintsugi cofounder and CEO Grace Chang said in a statement. “At Kintsugi, we are looking for objective, quantifiable and accurate measurements to raise the parity of mental health to that of physical health. This latest round of funding is a vote of confidence in our vision for mental healthcare, and we’re looking forward to seeing it come to life with the help of our investors.”

Virtual reality startup XRHealth announced Monday it had raised $10 million in funding from HTC, Bridges Israel, AARP, crowdfunding on and existing investors.

The company scored $9 million in June and $7 million in April 2020. In July last year, XRHealth announced a new VR program aimed at chronic pain management. The startup also offers programs for autism spectrum disorder and anxiety.

“XRHealth is putting virtual clinics into users’ pockets at a critical time in the changing landscape of the medical delivery and the technology industry,” CEO Eran Orr said in a statement. “We are leveraging these changes to create a new form of healthcare that is accessible at any time of day, from any location in the virtual environment of the metaverse, where treatment can be personalized and adjusted based on real-time analytics.”

Clinical AI startup has emerged from stealth with $2 million in a seed funding round led by 500 Global.

The company offers a platform that can connect AI firms with curated datasets for their tools. It also includes an explainability layer so non-programmers can run algorithms using new datasets.

“AI systems are only as good as the data used to train them but healthcare data is extremely fragmented across different providers, insurance companies, pharmacy records, and even consumer-generated data like fitness trackers,” Enes Hosgor, CEO and founder of Gesund, said in a statement.

“We’re ensuring that AI is truly clinical grade and equitable by providing scalable and compliant access to standardized, yet diverse, data through a low-code MLOps platform.”

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