AI company Fractal scores $360M and other digital health fundings

Artificial intelligence startup Fractal announced on Wednesday that it had raised $360 million from private equity firm TPG.

Srikanth Velamakanni, cofounder and group chief executive at Fractal, told TechCrunch the investment will earn the company unicorn status, reaching a valuation “at well north of $1 billion.”

Fractal, which is the parent company of healthcare AI company, will receive the funds through TPG Capital Asia. The transaction includes the primary investment and secondary share purchase from funds advised by Apax, and the deal is expected to close in the first quarter.

Ghana-based mPharma, which offers community pharmacies that provide medications and other healthcare services in eight markets in Africa, has raised $35 million in Series D funding, according to TechCrunch.

The funds, made up of $30 million in equity and $5 million in debt financing, will go toward building the company’s data infrastructure, hiring new employees, expanding in current and new markets, and launching a pharmaceutical e-commerce platform.

Kiddo, maker of a remote patient monitoring wearable for children, scooped up $16 million in a Series A funding round led by Vive Collective.

The capital will go toward hiring new workers in the U.S. and Asia, expanding partnerships with health systems and payers, and receiving FDA clearance. In addition to the wearable, Kiddo’s tools include a coaching app for parents, telehealth services and clinical decision support for providers.

“Adoption of telehealth services accelerated during the pandemic, but physicians and parents supporting children with chronic conditions still need real-time data to make decisions, such as how to adjust medications, whether the advised treatment is working, or if a patient needs to be seen immediately,” sKiddo Chief Medical Officer Dr. Rishi Madhok said in a statement.

“You can’t capture this data through an online visit alone, which is why the Kiddo RPM platform is an indispensable tool in managing pediatric chronic health conditions.”

ianacare, a digital platform for caregivers to find resources, employee benefits and other support, has raised $12.1 million in Series A funding.

The round was led by Greycroft, with participation from 8VC, SemperVirensVC, Able Partners and Brown Alumni Group, along with follow-on investments from Slow, Founder Collective, Indicator Ventures, Entree Capital, Cue Ball, Service Provider Capital and AARP.

The funds will be used to grow sales, its team and operations.

“There are so many activities built into the care plan that fall to family caregivers like medication management, transportation to and from appointments, managing dietary needs, etc. Creating a true infrastructure of care in the home environment requires access, knowledge and guidance,” Steven Lee, ianacare’s COO and cofounder, said in a statement.

“What we realized was that thousands of resources and services already exist, but they are highly fragmented and difficult to find. The power of technology allows us to bring large systems together, enable simpler connection and coordination and deliver highly personalized experiences at scale.”

headversity, which offers a preventative mental and behavioral health platform for employers, scored $10 million in a Series A round led by Level Equity, with participation from Westcap Management and Birchcliff Partners.

“Employers around the world were underprepared for the pandemic, from a mental health standpoint. Technology has done a great job at building individual learning experiences for people to fill this gap,” Dr. Ryan Todd, headversity CEO and cofounder, said in a statement.

“Where the industry has fallen short is helping to build community and shared language around mental health in our workplaces. We believe the interconnectedness of personalized and team learning changes the landscape of workforce training, offering organizations an unparalleled opportunity to reach their entire workforce and build a safe culture.”

AI-enabled drug discovery startup Protai emerged from stealth Wednesday with $8 million in seed funding.

The round was led by Grove Ventures and Pitango HealthTech, and will go toward developing the company’s platform, growing its discovery programs and expanding partnerships with pharma companies.

Strados Labs, maker of a wearable sensor to monitor respiratory health, announced it had scooped up $4.5 million in pre-Series A funding.

Investors in the round include SOSV, cultivate(MD), Wavemaker360 Health, Blu Venture Investors and Broad Street Angels. The company’s flagship product, the RESP Smart Sensor Platform, earned FDA 510(k) clearance in late 2020.

“This next round of funding will allow us to scale RESP, conduct decentralized clinical trials and bolster our proprietary lung sound and breathing pattern database to create the standard for acoustic biomarkers going forward,” said Strados’ cofounder and CEO Nick Delmonico said in a statement.

“What’s really exciting is that we are supporting pharmaceutical companies in their trials by helping them rapidly scale their digital therapeutics using our clinically validated measures for wheeze, cough and other adventitious breath sounds, or CABS  which is something no other cleared device can measure.”

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