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Startups Funded in the Week of June 5 to June 11, 2023

Pomelo Care Secures $33M in Seed and Series A Financing

New York-based digital healthcare provider, Pomelo Care, recently announced a combined Seed and Series A financing round totaling $33 million. The company, known for its revolutionary approach to improving maternal and infant health, plans to use the new funds to expedite its collaboration with various health plans.

This includes several Medicaid managed care organizations, employers, and top-tier academic medical institutions that are tackling the ongoing national maternal health crisis head-on.

The fundraising initiative was spearheaded by venture capital firm Andreessen Horowitz and saw participation from a host of other investors. Among these were First Round Capital (which co-led the Seed round), SV Angel, Operator Partners, Allen & Company LLC, and BoxGroup.

The round also attracted several prominent angel investors and health industry leaders such as Adam Boehler, former Director of the Center for Medicare and Medicaid Innovation (CMMI), and Puneet Singh, former Chief Growth Officer at the Diversified Business Group at Elevance.

Pomelo Care, under the leadership of its founder and CEO, Marta Bralic Kerns, uses a virtual medical practice model to address and mitigate risk factors that could compromise maternal and newborn health. It offers around-the-clock care, through a dedicated multi-disciplinary team, right from the preconception stage to the infant’s first year.

Pomelo’s distinctive approach is its emphasis on data-driven prediction and proactive risk identification, holistic care based on proven protocols, and new care programs that offer 24/7 access to care via phone, text, or video.

Currently, Pomelo Care serves patients across 44 states and has partnerships with national payers and several of the country’s largest Medicaid managed care organizations. The company also collaborates with major employers such as Penn Medicine, Mount Sinai Health System, Koch Industries, Elevance Health, Healthy Blue Nebraska, and Nebraska Total Care, among others​.

Bonside Secures $4.35M Seed Round

Bonside, a financial platform that provides growth capital to brick-and-mortar businesses, has secured a $4.35 million seed round led by Floating Point Ventures. The round also included participation from 81 Collection, TMV, and Philz Coffee’s Jacob Jaber.

Bonside’s platform allows businesses to access growth capital without giving up equity or putting up collateral. Businesses simply pay back the capital with a percentage of their monthly revenue.

The company has already deployed nearly $2 million across five businesses, cumulatively grossing $25 million in annual revenue. More than 100 brick-and-mortar businesses are currently in Bonside’s pipeline.

Bonside’s funding is a sign of the growing demand for growth capital among brick-and-mortar businesses. Traditional sources of financing, such as banks and venture capital firms, have been slow to provide capital to these businesses. Bonside’s platform fills this gap by providing a simple and accessible way for businesses to get the capital they need to grow.

The company plans to use the funding to expand its team, develop new products and services, and enter new markets. Bonside is also planning to partner with banks and other financial institutions to make its platform more widely available.

Bonside’s mission is to help brick-and-mortar businesses succeed. The company believes that by providing growth capital to these businesses, it can help to revitalize the local economy and create jobs.

Yuvo Health Secures $20.2M Series A Funding

Yuvo Health, a technology-enabled administrative and managed-care solution for community health centers, has secured $20.2 million in Series A funding led by Mastry Ventures. The round also included participation from AlleyCorp, AV8 Ventures, New York Ventures, HLM Venture Partners, Route 66 Ventures, VamosVentures, and Social Innovation Fund.

Yuvo Health was founded in 2020 by Dr. David Chokshi, Dr. Melynda Barnes, and David Bogen. The company’s mission is to improve the quality and accessibility of care for underserved communities by providing community health centers with the technology and administrative support they need to succeed.

Yuvo Health’s platform provides community health centers with a suite of tools to manage their operations, including electronic health records, patient scheduling, billing, and referral management. The platform also provides community health centers with access to a network of experts who can help them with clinical, operational, and financial challenges.

Yuvo Health’s funding will be used to expand its platform, hire new employees, and enter new markets. The company plans to focus on expanding its platform to support the needs of community health centers in rural areas and underserved communities.

Yuvo Health’s funding is a sign of the growing interest in technology-enabled solutions for community health centers. The company’s platform has the potential to improve the quality and accessibility of care for millions of underserved Americans.

Here are some additional details about Yuvo Health’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Yuvo Health’s growth plans, which include expanding its platform, hiring new employees, and entering new markets.
  • Yuvo Health’s platform has the potential to improve the quality and accessibility of care for millions of underserved Americans.

AssayMe Secures $1.5M Seed Funding

AssayMe, a healthtech startup that provides a non-invasive, at-home diabetes risk test, has secured $1.5 million in seed funding. The round was led by Goodwater Capital, with participation from FJ Labs and First Round Capital.

AssayMe’s test uses a urine strip and an app to analyze glucose, protein, pH, specific gravity, and ketone levels. The results are then sent to a doctor for interpretation. The test is designed to be used by people who are at risk for diabetes, but who do not yet have the disease.

The company was founded in 2021 by Nik Plotnikov and Harry Filipp. Plotnikov is a former executive at Abbott Laboratories, and Filipp is a former research scientist at the University of California, San Francisco.

AssayMe plans to use the funding to develop its test further, expand its team, and launch its product in the United States. The company also plans to expand to other countries in the future.

The funding for AssayMe is a sign of the growing interest in at-home health testing. The company’s test has the potential to help people who are at risk for diabetes to get tested early, which could help them to prevent or manage the disease.

Here are some additional details about AssayMe’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support AssayMe’s growth plans, which include developing its test further, expanding its team, and launching its product in the United States.
  • AssayMe’s test has the potential to help people who are at risk for diabetes to get tested early, which could help them to prevent or manage the disease.

Granica Secures $45M in Series A Funding

Granica, an AI efficiency platform provider, has secured $45 million in Series A funding. The round was led by New Enterprise Associates (NEA), with participation from Bain Capital Ventures, Deepak Ahuja, Frederic Kerrest, and Kevin Hartz.

Granica’s platform helps enterprises reduce the cost of AI by increasing the efficiency of AI training data. The platform’s byte-granular inline data reduction runs transparently in the background, reducing AI data costs without impacting model accuracy.

Granica was founded in 2021 by Rahul Ponnala and Tarang Vaish. Ponnala is a former research scientist at Google AI, and Vaish is a former software engineer at Amazon Web Services.

The company plans to use the funding to expand its team, develop new products and services, and enter new markets. Granica is currently focused on the enterprise market, but it plans to expand to other markets, such as healthcare and government, in the future.

The funding for Granica is a sign of the growing interest in AI efficiency solutions. The company’s platform has the potential to help enterprises save millions of dollars on AI costs.

Here are some additional details about Granica’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Granica’s growth plans, which include expanding its team, developing new products and services, and entering new markets.
  • Granica’s platform has the potential to help enterprises save millions of dollars on AI costs.

Laxis Secures $10 Million Seed Round

Laxis, a meeting assistant platform that uses artificial intelligence to transcribe meetings, summarize notes, and identify key insights, has secured $10 million in seed funding. The round was led by Lofty Ventures, with participation from University of Chicago and Elevate Ventures.

Laxis was founded in 2022 by Aakash Choudhary, who previously worked as a software engineer at Google. The company’s mission is to make meetings more productive and efficient by providing users with a comprehensive set of tools to capture and analyze meeting content.

Laxis’s platform is available as a browser extension and as a mobile app. The platform uses artificial intelligence to transcribe meetings in real time, summarize notes, and identify key insights. Users can also collaborate on meeting notes and share them with others.

The company plans to use the funding to expand its team, develop new features, and market its platform to businesses of all sizes. Laxis is currently focused on the enterprise market, but it plans to expand to other markets, such as education and government, in the future.

The funding for Laxis is a sign of the growing interest in meeting productivity tools. The company’s platform has the potential to help businesses save time and money by making meetings more productive.

Here are some additional details about Laxis’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Laxis’s growth plans, which include expanding its team, developing new features, and marketing its platform to businesses of all sizes.
  • Laxis’s platform has the potential to help businesses save time and money by making meetings more productive.

Karoo Health Secures $3.4 Million in Seed Funding

Karoo Health, a cardiac value-based care enablement company, has secured $3.4 million in seed funding. The round was led by First Trust Capital Partners, LLC, with participation from Inflect Health, FirstMile Ventures, and a group of angel investors.

Karoo Health was founded in 2022 by Ian Koons, who previously worked as a healthcare consultant at McKinsey & Company. The company’s mission is to improve the quality of care and reduce the cost of care for patients with heart disease.

Karoo Health’s platform uses artificial intelligence and machine learning to help healthcare providers manage patients with heart disease. The platform provides providers with insights into patient risk, helps them to identify and address gaps in care, and supports them in making evidence-based decisions.

The company plans to use the funding to expand its platform, hire new employees, and enter new markets. Karoo Health is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for Karoo Health is a sign of the growing interest in value-based care and artificial intelligence in healthcare. The company’s platform has the potential to improve the quality of care and reduce the cost of care for millions of patients with heart disease.

Here are some additional details about Karoo Health’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Karoo Health’s growth plans, which include expanding its platform, hiring new employees, and entering new markets.
  • Karoo Health’s platform has the potential to improve the quality of care and reduce the cost of care for millions of patients with heart disease.

Syntax Health Secures $7.5M Seed Funding

Syntax Health, a New York-based healthcare technology company that provides a platform for health plans and providers to accelerate alignment in value-based care (VBC), has secured $7.5 million in seed funding. The round was led by Redesign Health, with participation from AlleyCorp, BoxGroup, and individual investors.

Syntax Health’s platform uses a combination of analytics, infrastructure, and a collaborative Virtual Workspace to remove friction in the contracting process and facilitate best-fit payment model design in real-time. The company’s mission is to accelerate the transition to value-based care by helping health plans and providers collaborate more effectively.

The company plans to use the funding to expand its platform, hire new employees, and enter new markets. Syntax Health is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for Syntax Health is a sign of the growing interest in value-based care and technology solutions in healthcare. The company’s platform has the potential to help millions of patients receive the care they need at a lower cost.

Here are some additional details about Syntax Health’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Syntax Health’s growth plans, which include expanding its platform, hiring new employees, and entering new markets.
  • Syntax Health’s platform has the potential to help millions of patients receive the care they need at a lower cost.

MEND Secures $15M in Series A Funding

MEND, a New York-based company that develops software to help people with chronic conditions manage their health, has secured $15 million in Series A funding. The round was led by S2G Ventures, with participation from Alumni Ventures, Colorcon, and other investors.

MEND’s software uses a combination of machine learning, behavioral science, and human coaching to help people with chronic conditions stay on track with their treatment plans. The company’s mission is to help people live healthier lives by making it easier for them to manage their chronic conditions.

The company plans to use the funding to expand its software platform, hire new employees, and conduct clinical trials. MEND is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for MEND is a sign of the growing interest in technology solutions for chronic disease management. The company’s software has the potential to help millions of people with chronic conditions live healthier lives.

Here are some additional details about MEND’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support MEND’s growth plans, which include expanding its software platform, hiring new employees, and conducting clinical trials.
  • MEND’s software has the potential to help millions of people with chronic conditions live healthier lives.

Viture Secures $10M in Series A Funding

Viture, a Los Angeles-based startup that develops augmented reality (AR) smart glasses, has secured $10 million in Series A funding. The round was led by BAI Capital, with participation from Verity Ventures, Goodwater Capital, FJ Labs, and First Round Capital.

Viture’s AR smart glasses are designed to be used for entertainment, gaming, and productivity. The glasses have a built-in display that projects a 1080p image onto the user’s field of view. The glasses also have a built-in microphone and speaker, so users can interact with AR content and other users.

The company plans to use the funding to expand its team, develop new features for its AR smart glasses, and market its products to businesses and consumers. Viture is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for VITURE is a sign of the growing interest in AR technology. The company’s AR smart glasses have the potential to revolutionize the way people interact with digital content.

Here are some additional details about VITURE’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support VITURE’s growth plans, which include expanding its team, developing new features for its AR smart glasses, and marketing its products to businesses and consumers.
  • VITURE’s AR smart glasses have the potential to revolutionize the way people interact with digital content.

Zoomph Secures $1.7M Seed Round

Zoomph, a sports and entertainment technology partnerships insights platform, has secured $1.7M in seed funding. The round was led by Jurassic Capital, with participation from Lalotte Ventures.

Zoomph’s platform helps sports and entertainment brands understand their partnerships with media outlets and influencers. The platform provides insights into media coverage, social media engagement, and influencer reach.

Zoomph was founded in 2022 by two former executives at Nielsen, Joe Colopy and Chris Hecht. The company is headquartered in Reston, Virginia.

The company plans to use the funding to expand its team, develop new features for its platform, and market its products to sports and entertainment brands. Zoomph is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for Zoomph is a sign of the growing interest in sports and entertainment technology. The company’s platform has the potential to help sports and entertainment brands make more informed decisions about their partnerships.

Here are some additional details about Zoomph’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Zoomph’s growth plans, which include expanding its team, developing new features for its platform, and marketing its products to sports and entertainment brands.
  • Zoomph’s platform has the potential to help sports and entertainment brands make more informed decisions about their partnerships.

Ristretto Secures $2 Million Seed Round

Ristretto, a San Francisco-based startup that develops software for managing and optimizing cloud resources, has secured $2 million in seed funding. The round was led by Initialized Capital, with participation from Uncork Capital, BoxGroup, and angel investors.

Ristretto’s software helps companies save money on their cloud costs by automatically optimizing their resource usage. The software also helps companies avoid cloud outages by proactively identifying and resolving potential problems.

Ristretto was founded in 2022 by two former Google engineers, Matt Lammers and Andrew Wang. The company is headquartered in San Francisco, California.

The company plans to use the funding to expand its team, develop new features for its software, and market its products to businesses of all sizes. Ristretto is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for Ristretto is a sign of the growing interest in cloud computing. The company’s software has the potential to help businesses save money and improve their cloud performance.

Here are some additional details about Ristretto’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Ristretto’s growth plans, which include expanding its team, developing new features for its software, and marketing its products to businesses of all sizes.
  • Ristretto’s software has the potential to help businesses save money and improve their cloud performance.

Nohbo Secures $3M Seed Funding

Nohbo, a sustainable beauty and personal care technology company, has secured $3 million in seed funding. The round was led by Material Impact, with participation from Safer Made and existing investor Mark Cuban’s Radical Ventures.

Nohbo is a Melbourne, Florida-based startup that has commercialized the world’s first, single-use, water soluble personal care line of products. The company’s products are made with sustainable ingredients and packaging, and they are designed to be more convenient and environmentally friendly than traditional personal care products.

The company plans to use the funding to expand its product line, hire new employees, and enter new markets. Nohbo is currently focused on the United States market, but it plans to expand to other markets, such as Europe and Asia, in the future.

The funding for Nohbo is a sign of the growing interest in sustainable personal care products. The company’s products have the potential to disrupt the personal care industry and make it more sustainable.

Here are some additional details about Nohbo’s funding:

  • The round was oversubscribed, which means that more investors wanted to participate in the round than there was funding available.
  • The funding will be used to support Nohbo’s growth plans, which include expanding its product line, hiring new employees, and entering new markets.
  • Nohbo’s products have the potential to disrupt the personal care industry and make it more sustainable.

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