Nitra, a fintech company that develops expense management products for physicians, received $62 million in equity and debt capital financing. Investors included Andreessen Horowitz, New Enterprise Associates (NEA), Pantera Capital, KB Financial Group, Jerry Yang/AME Cloud Ventures and Will Smith's Dreamers VC, with CoVenture providing the debt facility. The company plans to use the funds to launch its first product, a Visa card customized for the healthcare industry that allows physicians to spend on medical and surgical supplies, office and business needs and dining.
Blue Cross Blue Shield of Massachusetts is collaborating with VillageMD, a tech-enabled, national provider of value-based primary care services. As part of the arrangement, Blue Cross members will have access to VillageMD’s primary care practices. VillageMD offers primary care and pharmacy services through Village Medical at Walgreens practices. Walgreens Boots Alliance CEO Rosalind “Roz” Brewer joined VillageMD’s board of directors in April. The company has presence in 22 markets with more than 300 practices.
PathAI, a company that develops AI-powered pathology, expanded its agreement with Bristol Myers Squibb. The initial work within this extended agreement will focus on key translational research in oncology, fibrosis, and immunology, with an overall goal to continue transitioning this work into clinical trials. The companies began working together in 2016 and Bristol Myers participated in PathAI’s Series C funding round in May 2021.
UpHealth, a publicly traded digital health company that develops data aggregation and infrastructure services to providers and payers, closed $67.5 million in debt financing. The company went public in June 2021 through a merger with Cloudbreak Health and special purpose acquisition company, GigCapital2. The company has lost 77% of its market share in the last year, trading at $2.60 per share in August 2021 and $0.59 per share today.
Recuro Health, a virtual health solutions company, acquired Competitive Health, an integrated digital health company that aims to help employers reduce costs, promote engagement and maximize return on investment. Terms of the deal were not disclosed.
Other funding rounds and deals:
Fair Square Medicare, a tech-enabled concierge healthcare platform for seniors, announced $15 million in Series A funding.
AIRS Medical, an AI-powered medical imaging startup, raised $20M in a Series B funding round.
Flossy, an online platform for booking dentists and dental care services, raised $14.7M in a Series A funding round.
LivWell Infusions, a provider of practice management solutions for physicians, received growth investment.
CureApp, an AI-powered digital therapeutics app company, received $51 million in a Series G funding round.
Mojocare, a telemedicine startup, raised $20 million in a Series A funding round.
Ubie, an AI-powered symptom checker app, raised $26.2 million in a Series C funding round.
PeakData, an AI-powered data analytics platform for pharmaceutical companies, raised $12.1 million in a Series A funding round.
Biotia, an AI-powered precision infectious disease detection platform, raised $8 million in a Series A funding round.
Ventrk, a provider of therapy management and exercise tracking apps, received $1 million in funding.
Alongside, an AI-powered mental health app to promote resilience, positive social and emotional development, self-monitoring, and goal setting, raised $5.5 million in seed funding.
Psych Hub, a mental health education company, raised $16 million in a Series A funding round.
Plume, a telehealth company built for the transgender community, raised $24 million in a Series B funding round.
Avenda Health, an AI platform for precision prostate cancer, raised $10 million in a Series B funding round.
HealthAssure, a Mumbai-based health tech startup aggregating primary healthcare services and OPD insurance, raised $6.2 million in a pre-Series B funding round.
If there is a digital health funding or M&A deal that we missed from this past week here, please email us.
Digital Health Business & Technology’s data team contributed to this roundup.