SoftBank Vision Fund 2 leads a $100 million funding in this Indian founder’s global healthtech startup

• SoftBank’s Vision Fund 2 has led a $100 million fund in Biofourmis – a digital therapeutics startup.
• It was founded in 2015 by Kuldeep Singh Rajput.
• According to reports, with the latest fundraise, the company has tripled its valuation from $250 million to $750 million.

Japanese investment firm SoftBank’s Vision Fund 2 has led a $100 million fund in Biofourmis – a digital therapeutics startup. The round also saw participation from the startup’s existing investors Openspace Ventures, MassMutual Ventures, Sequoia Capital, and EDBI.

Biofourmis, the Singapore-based startup, has global operations across the US and Asia Pacific. It was founded in 2015 by Kuldeep Singh Rajput, who hails from Bengaluru, and is a graduate of IIT Madras and pursued further studies at the National University of Singapore.

“Our vision is to use digital medicine to empower patients, clinicians and researchers everywhere by providing software-as-a-treatment for patients with unmet clinical needs, from post-acute care to optimal medication therapy,” said Rajput in a statement.

The startup offers artificial intelligence and machine learning led solutions in healthcare. With the latest investment, Biofourmis now plans to invest deeper into its offerings in healthcare with new verticals – Biofourmis Therapeutics and Biofourmis Health. The first vertical will offer digital therapeutics solutions with a “beyond the pill” model. While the second vertical will focus on managing patients remotely and will also use predictive analysis to defer a medical crisis.

“Biofourmis Health’s “home hospital” initiative leverages the company’s AI-based remote monitoring to lower healthcare costs—through reductions in length of stay, readmissions and emergency department visits, among other measures,” said the company.

According to reports, with the latest fundraise the company has tripled its valuation from $250 million to $750 million. Earlier, the startup had raised $35 million in a Series B round in May 2019.

SEE ALSO:

TCS, Infosys, HCL Tech and peers may not feel the tumbling US dollar yet — but the dent could be twice as bad going forward

Isha and Akash Ambani, Adar Poonawalla, Byju Raveendra — meet the Indians who made it to Fortune's ‘40 under 40’ list this year