Agetech News No. 27

May 15, 2023 3 min read
Agetech News No. 27

Hooray for Government!

The last month has been full of travel for Agetech industry events with conferences back in full swing after a year of covid trepidation in 2022. Our Editor-in-chief Max Zamkow was invited to participate as a panelist and moderator during several of these:

Agetech Atlanta, a new-ish community supporting local Agetech startups, invited Max to judge their pitch competition as part of the ASA conference. Atlanta is quickly becoming a major Agetech hub, companies in the Georgia area not already connected should take advantage of their resources and join the community,

At both Vive and Medicarians, Max presented alongside heavyweights Todd Haim from the NIH/NIA and Mel Barsky from CABHI on the state of public and private investment in Agetech. He also moderated two panels at Medicarians, one on financial security and another on medicare benefit selection & utilization.

The biggest surprise from these events was finding out just how much the the US and Canadian governments are actively supporting Agetech. The NIH/NIA's SSBIR program is giving away $150M annually to this industry, while CABHI through its public and private partnerships is directing nearly the same amount. That's an incredible amount of funding, much of it non-dilutive, that's helping prop up and accelerate early-stage Agetech startups.

April Highlights

Arrcadia, a data analytics platform for healthcare, announced $125M in new financing from Vista Credit Partners (Arcadia)

Digital behavioral health benefits company Spring Health raised $71M in a new funding round (Behavioral health Business)

Recuro Health, an integrated digital health solutions company designed to transition the U.S. healthcare system from a reactive model to a proactive care approach, closed a $47M Series B round to advance and scale its Digital Medical Home (Business Wire)

Health data company 1upHealth raised $40M in Series C funding which will be used for product development and scalability (Axios)

Memora Health, provider of an intelligence care enablement platform that simplifies how patients and clinicians navigate complex care delivery, scored $30M in a recent funding round to expand operations and its business reach (FinSMEs)

Virtual gastrointestinal care clinic Oshi Health picked up $30M in funding to scale up its technology and meet growing demand from patients, employers, health plans and provider groups (Fierce Healthcare)

Gather Health, a startup providing a primary care solution for older adults, raised $15M in Series A funding which it intends to use to expand operations and its business reach (FinSMEs)

Scene Health, which is solving the problem of medication nonadherence, closed an oversubscribed $17.7M Series B to further accelerate its ability to serve Medicaid and Medicare managed care plans (Business Wire)

Tally Health, a New York-based consumer biotechnology company that supports healthier aging, raised $10M in Seed funding to expand its research and development of new products (FinSMEs)

MedArrive, a mobile-integrated care management platform company, announced $8M in new funding which will be used to expand its payer relationships, build out its team and platform and scale into new markets (Pulse 2.0)

Dr.B Dental Solutions, a premium oral care brand focused on solutions for denture, implant and removable dental appliance users, raised over $5M in Seed funding to scale its business to meet expected demand (FinSMEs)

ModifyHealth, an Atlanta, GA-based innovative food-as-medicine platform and provider of medically tailored meals, raised an undisclosed Series B round which will be used to further expand its nationwide operations (FinSMEs)

Around the World

China-based Chamlion, a company focused on the digitization of dentistry, raised 236M Yuan ($34M USD) in Series B funding which will be used to further expand its domestic and overseas business (FinSMEs)

London-based TympaHealth, which offers a portable system that uses a smartphone for hearing health assessments, scooped up $23M in series A funding to expand in the U.K. and Europe and enter the U.S. market (MobiHealthNews)

Toronto, Canada based Felix, provider of on-demand treatment for everyday health, raised $18M in Series B funding to launch more complex categories of care (FinSMEs)

Neteera, a Jerusalem-based patient monitoring startup, secured approximately $13M to accelerate sales, production and deployment of its contactless monitoring solution (FinSMEs)

Danish startup, creator of an AI companion for nurses to help monitor patients and optimize workflows, raised €4.8M to expand to the wider Nordic region and Europe (EU-Startups)

Scotland-based Bioliberty, a technology startup advancing a soft robotic glove to restore upper limb mobility to patients following a stroke, raised £2.2M in funding to complete development of the trial product (FinSMEs)

Nolea Health, London-based provider of a healthcare jobs marketplace, raise £1M in a Seed funding round which will be used to expand its team and improve its clinical job-matching capabilities (FinSMEs)

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