Agetech News No. 32

Oct 8, 2023 5 min read
Agetech News No. 32

Conferences and Food

With HLTH starting today and both AARP's Agetech Summit & Aging2.0's optimize in the past few weeks, conference season has been especially busy this year. We'll keep this month's introduction brief so everyone can get on to networking and follow ups, so we'll just leave you with this from Rock Health's newsletter highlighting how the big grocers are getting in on the Food-as-Medicine wave:

Last week, Instacart IPO'd on the public markets. And the digital grocery delivery service is making healthcare moves, starting with the launch of Instacart Health, an initiative to increase nutrition security via new products, strategic partnerships, research, and policy advocacy. Instacart also recently announced early results of its food-as-medicine social support program, “Good Food for All,” which provides produce credits to families. This comes on the heels of other food-as-medicine news from grocers such as Kroger Health, whose collaboration with Performance Kitchen offers medically tailored meals for people living with health conditions like diabetes and heart disease.

September Highlights

Alto Pharmacy, a digital pharmacy startup that offers same-day prescription deliveries, which are particularly helpful for those with mobility issues, raised $120 million to expand its services across the U.S. The round values the company at $800 million, less than the over $1 billion it was valued at when SoftBank invested in 2020 (Published by InvestClub

Spencer Health Solutions, a solution addressing medication adherence and patient engagement, raised $43 million in Series D funding. The funds will be used to accelerate the company's growth by expanding its product offerings and scaling its operations globally (FinSMEs

Vivante Health, a digital health company specializing in digestive health and disease, raised $31 million in Series B funding to expand its product offerings and accelerate its sales and marketing efforts. (FinSMEs

Inbound Health, a healthcare technology company focused on providing advanced at-home care programs, raised $30 million in funding to accelerate the growth and development of its innovative healthcare solutions (PRWeb

VitalConnect, a leading provider of medical-grade wearable biosensor systems, raised more than $30 million in Series F financing to accelerate the growth and adoption of its remote patient monitoring platform, expand its product portfolio, and further its global commercial expansion (MPO-Mag)

Midi Health, a digital health startup specializing in women's health and wellness, raised $25 million in a Series A funding round to expand its product offerings and scale its operations globally (Published by FemTech Insider)

Juno Bio, a femtech startup focused on understanding and improving women's health through the vaginal microbiome, raised $25 million in a seed funding round to accelerate its research and development efforts, expand its team, and bring its first products to market (Femtech Insider

Sempre Health, which uses behavioral economics to improve medication adherence, raised $20 million in funding. The funds will be used to expand their platform that helps patients save money on prescription medications (PR Newswire

Bold, an online exercise platform for older adults, has raised $17 million in a Series A funding round. The funds will be used to accelerate growth with Medicare plans and providers and to support the healthy aging goals of older adults (PR Newswire)

Teale, a mental health tech startup providing AI-powered mental health support for workplaces, raised $11 million to enhance its product development and expand its services globally (TechCrunch)

🎉 Avel eCare, a provider of clinician-to-clinician telemedicine services, announced the acquisition of Fident Health, virtual hospitalist provider focused on rural and suburban communities. Terms of the deal were not disclosed. The deal strengthens Avel eCare's existing clinician network & acute and post-acute telemedicine solutions (PR Newswire)

PatchRx, maker of a smart pill bottle cap to aid in medication management, has raised $8 million in capital to support its rapid growth. The funds will be used to expand the company's operations and further develop its innovative medical technology solutions (PR Newswire

DeLorean AI, which uses data to provide medical providers and insurers with insights into their patients’ health, raised $7.55 million to enhance its AI platform and expand its sales and marketing efforts (Refresh Miami

Rebalance Health, a supplement brand developing solutions for managing menopause and low-testosterone symptoms, raised a $7.37 million Series C funding round. The funds will be used to market their hormone rebalancing products which launched five months ago (Denver Inno

HealNow, a platform for pharmacies to manage online orders and payments, raised $6 million in seed funding to expand its operations and enhance its product offerings (Axios

Carenostics, an AI startup tackling undiagnosed and under-treated chronic disease, raised $5 million in seed funding led by M13. After seeing success with chronic kidney disease & severe and uncontrolled asthma, it plans the use the funds to accelerate expansion to more chronic conditions (Published by PRWeb

Blooming Health, a platform which engages with older adults and their caregivers across text, voice calls, and emails, raised a $4.2 million seed round. The funds will be used to scale its engagement product to additional community-based organizations (FemTech Insider

Cohelm, a healthcare technology startup focused on automating prior authorizations for medical procedures, raised $3 million in seed funding to enhance its product development and expand its team (Axios)

Savoy Life, a digital health startup focused on providing personalized nutrition and wellness solutions, raised $3 million in pre-seed funding to enhance its product development and expand its team (Axios

🎉 Permobil, a company specializing in advanced wheelchair solutions, has acquired PDG Mobility, a manufacturer of manual wheelchairs. The financial details of the acquisition were not disclosed. Permobil aims to leverage PDG Mobility's expertise to enhance its product portfolio and expand its presence in the manual wheelchair market (Published by HomeCare Magazine)

NeuroFlow, a digital health company focused on integrating behavioral health into all areas of healthcare, raised an undisclosed amount of capital from Concord Health Partners. The funds will be used to accelerate the company's growth, expand its team, and further develop its behavioral health integration platform (PR Newswire

Around the World

CABHI logo

CABHI, a Canadian hybrid public/private organization that supports innovations in aging and brain health, has invested $5 million in 19 companies that aim to improve the lives of older adults. The funds will be used to further develop and scale these innovative solutions (CABHI)

Navenio, a location technology spinout from Oxford University that provides infrastructure-free indoor location solutions, raised $6.3 million to enhance efficiency and capacity for patient care delivery teams (Business Wire)

🎉 CareLineLive, a UK-based home care management software provider, acquired CareFor IT and Ulysses platforms. The acquisition will makes technology-driven quality homecare easier to deliver for an increasing number of customers and local authorities across the UK, Ireland, Jersey and Australia (HomeCare Mag)

Yazen, a Berlin-based startup specializing in the development of a digital platform for yoga and meditation, raised €3.1 million to enhance its product development and expand its marketing efforts (FinSMEs

Homecare Hub, a Canadian technology company specializing in home healthcare services, raised $2.5 million in strategic financing to enhance its technology platform and expand its services into the US (Private Capital Journal

InContAlert, a German-based medical technology startup specializing in non-invasive sensor technology for monitoring bladder function, raised €1.5 million in pre-seed funding. The funds will be used to accelerate the development of their innovative technology, expand their team, and prepare for clinical trials (FinSMEs

iDoven, a Madrid-based startup that uses artificial intelligence to interpret electrocardiograms, raised €1.5m in a new funding round. The funds will be used to consolidate the company's presence in Spain, expand its operations in Europe, and continue the development of its AI technology (FinSMEs

Pal, a female-led Dutch startup specializing in the development of a digital platform for palliative care, raised €300k to enhance its technology, expand its team, and further its research in palliative care (Tech Funding News)

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