Editor’s Note: This roundup is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Health tech companies made several major funding announcements in October. Here is a list of some of the biggest funding rounds.
ŌURA secures $900 million
ŌURA, which was founded in Finland in 2013, offers a wearable smart ring called the Oura Ring, as well as an accompanying app. The ring provides personalized insights and guidance on sleep, activity, readiness, stress, resilience, women’s health and heart health. People can purchase an Oura Ring starting at $349.
The $900 million in funding was led by Fidelity Management & Research Company and included participation from ICONIQ, Whale Rock and Atreides. To date, ŌURA has raised $1.5 billion, and the company is now valued at $11 billion. The financing will be used to advance AI and product innovation and expand global distribution, the company previously told MedCity News.
Lila Sciences secures $350 million Series A
Lila Sciences is developing a “scientific superintelligence” platform that merges AI with autonomous labs to accelerate scientific discovery. The company aims to enable faster breakthroughs in medicine, materials and sustainability.
The company announced its Series A in two parts: first $235 million in September and then $115 million in October. Its investors include Braidwell, Collective Global, NVentures (NVIDIA’s venture capital arm), Analog Devices, IQT, Dauntless Ventures, Catalio Capital Management and Pennant Investors. In total, the company has raised $550 million, which will be used to scale its AI-driven science factories and open its platform to commercial partners.
DUOS raises $130 million
Minneapolis-based DUOS supports patients and their caregivers by addressing health-related social needs and connecting members to care. DUOS reaches out to eligible health plan members via text, email or mail to inform them of the benefit and invite them to enroll. Members can then share their top social and care-related needs — such as access to food or transportation — and DUOS connects them with relevant resources and providers based on their coverage, location and individual circumstances.
Its $130 million raise was led by FTV Capital and included participation from Forerunner Ventures. In total, the company has raised $163 million. The funding will be used to advance its platform and improve its AI capabilities.
MD Integrations snags $77 million
New York-based MD Integrations is a telehealth infrastructure company that allows digital health brands to launch, operate and scale virtual care services quickly. It offers a nationwide network of doctors and enables a variety of specialties, including weight management, longevity, dermatology, women’s health, men’s health and urgent care.
Its $77 million raise was from Updata Partners and Denali Growth Partners. With the funding, the company will “continue expanding its partner and customer base with high-quality care, deepen its nationwide physician network, expand its pharmacy and diagnostics integrations, and accelerate innovation on its highly configurable, API-first platform,” the company said in its announcement.
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