Investors’ interest in healthcare tech remains significant with artificial Intelligence and blockchain technology continuing to help patients and the broader healthcare industry.

Both Microsoft and Google have started incubator programs supporting healthcare focused artificial intelligence start-ups. Both Microsoft and GV (formerly Google Ventures) recently invested in the following healthcare companies that are developing artificial intelligence applications:

  • DNAnexus – combines expertise in cloud computing and bioinformatics to create a global network for genomic medicine – $58 million raise. Investors included Foresite Capital, Microsoft and GV
  • Adaptive Biotechnologies entered into a joint arrangement with Microsoft to leverage artificial intelligence and machine learning with biotechnologies to “create a universal blood test that reads a person’s immune system to detect a wide variety of diseases including infections, cancers and autoimmune disorders in their earliest stage, when they can be most effectively diagnosed and treated” – Peter Lee, Microsoft.
  • Quartet – improves behavioral health delivery for patients, providers, and payers – $40 million raise. Investors included F-Prime Capital Partners, Polaris Partners and GV

Other recent healthcare focused artificial intelligence capital raises include:

  • Asimov – programs living cells with genetic circuits using its engineering platform that combines computer-aided design, artificial intelligence, and synthetic biology – $4.7 million raised from Andreessen Horowitz.
  • Bigfoot Biomedical – a mobile health company indicates to reduce the burden of living with Type 1 and insulin-requiring Type 2 Diabetes by implementing AI technologies – $37 million raised. Investors included Janus Henderson Investors, Quadrant Capital Advisors, Cormorant Asset Management, Visionnaire Ventures, Senvest Capital, JDRF T1D Fund and T1D Exchange
  • Bay Labs, Inc. – applies AI to cardiovascular imaging to help in the diagnosis and management of heart disease – $5.5 million raised. Investors included Khosla Ventures, Data Collective, Minneapolis Heart Institute Ventures and Greenbox Venture Partners.

The healthcare industry is also using blockchain technology to: (i) exchange and protect patients’ medical records; (ii) keep data decentralized, and track the pharmaceutical supply chain; and (iii) provide an audit trail of transactions to reduce and eliminate fraud in prescriptions or patient identity. Interest in this space has spurred IBM and the venture arm of Comcast to back an investment fund targeting blockchain companies, including ones targeted towards healthcare. The fund seeks to invest $25,000 to $50,000 each in five or six early stage startups in the next six months.

Recent capital raises in health infotech companies using blockchain include:

  • Akri, a startup company that is applying blockchain technology to the healthcare industry, received $10 million in funding from Health2047, a technology incubator company launched by the American Medical Association (AMA)
  • Curisium, a healthcare technology and services company that enables innovative contracting at scale via its blockchain-based platform, raised $3.5 million from Flare Capital Partners, NEA, Shuttle Fund, Sanofi Ventures and Green Bay Ventures.
  • Quantum Medical Transport, Inc. will develop a HIPPA compliantFinTech blockchain technology that enables secure encryption health information data sharing – recently announced a $50 Million ICO (Initial Coin Offering) via Private Placement

Castle Placement is an investment bank founded in 2009 that raises raise equity and debt capital for companies in a variety of industries from our institutional investor network (>27,000 investors – PE/VC firms, hedge funds, family offices, asset managers, lenders, etc.). Robust, data-driven technology platform. Castle Placement recently launched CPGO V 3.0, an interactive platform for companies to access capital and investors to find innovative companies. Member FINRA/SIPC.

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Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
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