Singapore-headquartered digital healthtech company Biofourmis has raised US$5 million in Series A funding from NSI Ventures and Aviva Ventures, the strategic corporate venture arm of international insurer, Aviva. Biofourmis has also entered into a collaboration with Mayo Clinic, which will enable the company to access de-identified, anonymised healthcare data from clinical trials and Mayo’s expert medical insights.
Biofourmis has developed a health analytics platform called biovitals, which uses artificial intelligence to integrate and analyse continuous physiology data from clinical grade wearables and to detect personalised patterns that can predict a patient’s health deterioration.
“At Biofourmis, we are reinventing remote patient monitoring that will increase patient outcomes and reduce re-admissions following discharge. Our proprietary AI technology identifies health deterioration weeks in advance of re-admission to hospital. Ultimately, our goal is to be an integrated solution and platform that actually reaches the patients, physicians/ care teams, payers, and hospital providers,” said Kuldeep Singh Rajput, founder & CEO of Biofourmis.
Biofourmis will use the funding to scale its commercial operations to provide post-acute patient monitoring services and is preparing for the commercial launch of its Software as a Service (SaaS) platform.
