Since 2015, Singapore-based Biofourmis has been developing AI-powered technologies that help diagnose and treat patients. Today, the company not only announced the closure of its $35 million Series B funding, but also announced it would be officially relocating its headquarters to one of the world’s foremost healthtech capitals: Boston.
In an interview with Built In, CEO and founder Kuldeep Singh Rajput explained the reason for the move: “The kind of talent we are tapping into in Boston is incredible,” he said.
The company, which currently has a 12-person staff in Boston, will look to scale to 40 locals in the coming years, and 100 worldwide.
As a former MIT-based researcher, Singh Rajput is familiar with the significance of the Boston tech scene. He had just moved back to Singapore to begin work on a Ph.D. before the idea for Biofourmis struck him. Even then, it was clear that, for a growing healthtech firm, the place to be was across the Pacific.
“The United States has been our major market since the beginning,” Singh Rajput said, noting the company’s partnerships with big names like the Mayo Clinic and Massachusetts General Hospital.
Hospitals, research facilities and pharmaceutical companies alike use Biofourmis’s platform to help make strides in preventative medicine.
“The dream of Biofourmis is to predict disease before it happens so we can improve health and outcomes,” said Singh Rajput. To do this, the company built out its signature Biovitals product: a combination of wearable sensors and software that continually monitor and analyze patient data.
While each individual data point may not reveal much, the CEO says that significant trends reveal themselves in passive data collected over a period of time — data valuable to both patients and clinicians alike.
Currently, Biofourmis’s products are designed for use by those affected by chronic conditions, heart failure and those taking multiple medications that have the potential to interact. Rajput Singh said there is a pipeline of other uses for the product currently in development.
Today’s funding was led by Sequoia India and MassMutual Ventures. Other investors included Singapore’s EDBI, and China’s Jianke, as well as returning investors Openspace Ventures, Aviva Ventures and SGInnovate.
Biofourmis has raised $41.6 million to date.
_0.jpg)
