VCs invest $1.6 bn in healthcare IT firms globally in April-June
Venture capital firms invested $1.6 billion through 140 deals in Healthcare IT companies worldwide during the April-June quarter this year, up 33 per cent year-on-year, says a Mercom Capital Group report.
Of these, 12 Indian Healthcare IT companies received VC funding this quarter, which was saw highest VC investments since 2010. While nine domestic firms got over $26 million, the deal size of the three was not disclosed. In the first quarter, they had invested $1.4 billion through 146 deals in the sector.
For the first half of this year, close to $3 billion was raised through 286 deals, marking a 50 per cent rise, compared with nearly $2 billion in the year-ago period.
"The big reason for the jump in VC funding was record fund raising by Chinese companies. This is the first time since 2010 that Health IT companies in the US have been outraised by other countries," Mercom Capital Group CEO and Co-Founder Raj Prabhu said.
This was the largest VC funding quarter for Healthcare IT companies since Mercom began tracking in 2010.
"This quarter is likely an outlier, but it is also a sign that investors and companies should pay close attention to digital health markets around the world," Prabhu said.
Notable Indian transactions in April-June quarter of this year include, 1mg Technologies (previously HealthKartPlus) which raised $16 million in funding from Maverick Capital Ventures, Sequoia India and Omidiyar Network, the report said.
Among other noted Indian deals Bangalore-based developer of a health and fitness mobile app HealthifyMe raised $6 million from IDG Ventures India, Inventus Capital and Blume Ventures.
- 23 Dec 2019 4:40 PM GMT
- 26 Dec 2019 6:15 PM GMT
- 22 Aug 2019 6:17 PM GMT
- 31 Aug 2019 1:38 PM GMT
- 25 Oct 2017 3:32 PM GMT
- 18 Jan 2020 10:40 AM GMT
- 18 Jan 2020 10:35 AM GMT
- 18 Jan 2020 10:34 AM GMT
- 18 Jan 2020 9:19 AM GMT
- 18 Jan 2020 8:03 AM GMT