Biofourmis, a Boston, MA-based digital therapeutics company, closed $35m in Series B financing.
The round was led by Sequoia India, and co-led by MassMutual Ventures, with participation from EDBI and Jianke and existing investors Openspace Ventures, Aviva Ventures and SGInnovate.
The company intends to use the funds to advance its proprietary artificial intelligence (AI)-powered digital therapeutics platform and pipeline that treats and manages a range of complex chronic conditions.
Led by Kuldeep Singh Rajput, founder and CEO, Biofourmis discovers, develops and delivers personalized care and therapies with Digital Therapeutics for management of patients with complex chronic conditions.
The company has built Biovitals™, a personalized artificial intelligence (AI)-powered health analytics platform that predicts clinical exacerbation days in advance before a critical event. Biovitals™ is behind its Digital Therapeutics product pipeline, which spans a number of therapeutic areas and disease states, including heart failure, acute coronary syndrome, COPD and chronic pain.
Biofourmis will now expand its commercialization efforts in the United States and Asia and grow its teams focused on data science, clinical and regulatory, and sales and operations. By the end of 2019, the company aims to grow to more than 100 employees in the United States and Singapore.
The company also announced it will be expanding its Boston office and moving its headquarters from Singapore to Boston.