The fresh capital will be used by Biofourmis to expand its reach in the US and Asian markets.
Health-tech startup Biofourmis Singapore Pte Ltd has raised $35 million in Series B funding round from Venture capital firm Sequoia Capital India and the United States-based MassMutual Ventures.
The round has also seen participation from Singapore governmental agency Economic Development Board, Openspace Ventures and Aviva Ventures.
The fresh capital will be used by Biofourmis to expand its reach in the US and Asian markets as well as increase the strength of various teams that are core to its operations. With this investment, the company will further expand its Boston offices and move its headquarters there from Singapore.
Kuldeep Singh Rajput, Co-Founder and Chief Executive, Biofourmis, said, “The investment would also help in demonstrating the viability of the therapeutics platform. Our core focus has always been to optimise therapies to boost patient care and health outcomes.”
Anjana Sasidharan, Principal of Sequoia Capital India, stated, “The venture capital firm was confident about Biofourmis’ product offerings. They have already aligned with credible, high-quality institutional partners to successfully transition digital therapeutics from concept to reality.”