Here is the list of the top funding in the Meditech startups in the year 2021
The global healthcare market is expected to reach USD 11,908.9 billion by 2022, growing at a CAGR of 8.9%. The hospital industry in India is forecast to increase to Rs. 8.6 trillion (US$ 132.84 billion) by FY22 from Rs. 4 trillion (US$ 61.79 billion) in FY17 at a CAGR of 16–17%. The Government of India is planning to increase public health spending to 2.5% of the country’s GDP by 2025. The Make in India project has given a huge boost to the healthcare sector and also birth to various Meditech startups. Artificial intelligence, big data, medical data analytics, medical data management are some of the technologies transforming the industry. In this article, you will get to read about the top funding in the Meditech startups in the year 2021:
Ro
Fund Raised: $500 million
Ro is the healthcare technology company building a patient-centric healthcare system. Ro’s vertically integrated primary care platform powers a personalized, end-to-end healthcare experience from diagnosis, to delivery of medication, to ongoing care. With a nationwide provider network, in-home care API, and proprietary pharmacy distribution centers, Ro seamlessly connects telehealth, diagnostics, and pharmacy services to provide high-quality, affordable healthcare without the need for insurance. Raising $500 million is surely one of the highest funding in the Meditech startups.
Insitro
Fund Raised: $400 million
The artificial intelligence-powered drug discovery Meditech startup insitro has secured a mammoth funding round of $400 million, to carry forward its development efforts and Big Pharma partnerships with the likes of Gilead and Bristol Myers Squibb. The new proceeds will be used to further expand the company’s efforts and development pipeline, including potentially in-licensed assets explored in insitro’s target and biomarker discovery work.
Hinge Health
Fund Raised: $300 million
The Meditech startup offers a digital platform that uses wearable sensors and one-on-one health coaching to deliver in-home musculoskeletal therapy. Hinge Health’s customer base tripled, revenue quadrupled and customer retention continued at 100%, and the fourth quarter alone saw a 937% growth in added covered lives, the company reported. The deal values Hinge Health at $3 billion, according to the company. The startup is eyeing a potential initial public offering in 2022. It is one the top funding in the Meditech startups in the year 2021
Forward Healthcare
Fund Raised: $225 million
Well-known as the primary care of the future, Forward provides membership-based preventive primary care that embeds advanced medical technology into the model including biometric body scans, genetic testing, and real-time blood testing in 12 minutes. The quarter-billion in new financing will be used to rapidly expand Forward Health’s healthcare system nationwide, with several new locations slated to open in the first half of 2021.
Komodo Health
Fund Raised: $220 million
Komodo Health has created a massive “healthcare map,” an artificial intelligence platform that compiles de-identified healthcare data from hundreds of sources and more than 325 million individual patients. The company offers a real-time view into patient healthcare journeys to help life sciences companies and payers detect disparities in care and identify interventions.
Artificial intelligence, big data, medical data management are some of the technologies transforming the industry. In this article, you will get to read about the top funding in the Meditech startups in the year 2021
