Editor's note: This roundup is intended to highlight some of the month's most high-profile funding rounds, but it is not comprehensive.
October saw several major funding announcements from health technology companies. Here is a list of some of the largest funding rounds.
ŌURA receives US$900 million in financing
Founded in Finland in 2013, ŌURA offers a wearable smart ring called the Oura Ring and an accompanying app. The ring provides personalized insights and guidance on sleep, activity, readiness, stress, resiliency, women's health and heart health. People can purchase an Oura ring starting at $349.
The $900 million round was led by Fidelity Management & Research Company, with participation from ICONIQ, Whale Rock and Atreides. To date, ŌURA has raised $1.5 billion, and the company is currently valued at $11 billion. The company previously told MedCity News that the financing will be used to advance artificial intelligence and product innovation and expand global distribution.
Lila Sciences receives US$350 million in Series A financing
Lila Sciences is developing a “scientific superintelligence” platform that combines artificial intelligence with autonomous laboratories to accelerate scientific discovery. The company aims to enable faster breakthroughs in medicine, materials and sustainability.
The company announced its Series A round in two parts: first $235 million in September, then $115 million in October. Its investors include Braidwell, Collective Global, NVentures (NVIDIA's venture capital arm), Analog Devices, IQT, Dauntless Ventures, Catalio Capital Management and Pennant Investors. The company has raised a total of $550 million, which it will use to expand its AI-driven science factory and open its platform to commercial partners.
DUOS raises US$130 million
Minneapolis-based DUOS supports patients and their caregivers by addressing health-related social needs and connecting members to care. DUOS contacts eligible health plan members via text, email, or mail to inform them of the benefit and invite them to enroll. Members can then share their most important social and care-related needs, such as access to food or transportation, and DUOS connects them to relevant resources and providers based on their coverage, location, and personal circumstances.
Its $130 million financing was led by FTV Capital, with Forerunner Ventures also participating. The company has raised a total of $163 million. The funding will be used to advance its platform and improve its artificial intelligence capabilities.
MD Integrations secures $77 million in financing
New York-based MD Integrations is a telemedicine infrastructure company that helps digital health brands quickly launch, operate and scale virtual care services. It offers a nationwide network of physicians and offers a variety of specialty services, including weight management, longevity, dermatology, women's health, men's health and urgent care.
Its $77 million in financing came from Updata Partners and Denali Growth Partners. With the funding, the company will “continue to expand its partner and customer base with high-quality care, deepen its national physician network, expand its pharmaceutical and diagnostics integrations, and accelerate innovation on its highly configurable API-first platform,” the company said in the announcement.
Photo: nito100, Getty Images
