Singapore: Biofourmis raises $5m Series A from NSI Ventures, Aviva Ventures

Singapore-based health analytics platform Biofourmis has closed a $5-million Series A round from NSI Ventures and Aviva Ventures, in addition to securing a partnership with US-based Mayo Clinic.

NSI Ventures, a unit of Singapore-based private equity (PE) firm Northstar Group, is currently investing out of its second fund. It is understood to have raised about $60 million for the vehicle already. Aviva Ventures is the venture capital (VC) arm of British insurance firm Aviva.

Biofourmis, which was founded in June 2015, will use investment proceeds to scale its commercial operations to provide post-acute patient monitoring services. It is currently preparing for the commercial launch of a software-as-a-service (SaaS) platform called ‘biovitals’ that could help streamline medical interventions via remote monitoring.

According to date compiled by Crunchbase, this latest investment brings the startup’s aggregate equity funding to $6.07 million. Its last funding round was a $1-million seed round in August 2016 led by South African healthcare management firm SpesNet and social innovation consultancy Eden Strategy.

The partnership with the Mayo Clinic – which has a financial interest in Biofourmis and its technology platform – will enable Biofourmis to access the de-identified healthcare data from clinical trials and Mayo’s expert medical insights. Additionally, the two organisations will jointly develop wearable biosensor-based diagnostic technology to predict heart failure events in patients.

Besides Biofourmis, other funding rounds involving NSI Ventures this year were an $18-million Series D in Singapore-based restaurant management venture Chope; a Series A round of undisclosed size in Indonesian fintech startup Kredivo with Jungle Ventures as well as a $25-million Series B raised by CXA Group, a corporate benefits aggregator.

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Singapore: Grain closes pre-Series B led by NSI Ventures

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.