Israel-based Pitango launches $175M fund
Pitango, a Herzliya, Israel-based venture capital firm, launched its second fund focused on healthcare.
The $175 million fund will invest from seed to commercial stages in companies that use data science, artificial intelligence, medical devices and novel biology, the firm said in a news release.
Pitango also announced the fund’s first investments in QuantHealth.ai, a company focused on clinical trial simulations, and Nevia Bio, which is developing an artificial intelligence-based biomarker platform for early detection of women’s health diseases. Pitango has previously invested in startups such as AI drug discovery company Protai and care management tech company Laguna Health.
More from Israel: Ibex Medical Analytics nabs $55M
Ibex Medical Analytics, headquartered in Tel Aviv, Israel, scored a $55 million Series C funding round.
Ibex, founded in 2016, has developed a platform that aims to help clinicians diagnose cancer. The company, which works with UPMC and other U.S.-based health systems, has accumulated about $100 million in total funding.
Venture capital company 83North led the round. Other investors were Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital.
U.S. health systems and venture capitalists are increasingly partnering with Israeli startups and health systems to invest in and launch digital health companies. Tel Aviv is the country’s tech region.
Read more: Why US health systems, digital health investors love Israel
Chelsea Clinton’s firm invests in Blooming Health
Blooming Health, a digital engagement company that works with care providers for older adults, closed a $4.2 million seed round.
The group of investors included Metrodora, an investment firm co-founded by Chelsea Clinton. Evan Moore, the co-founder of delivery service DoorDash, also participated in the round.
Blooming Health's remote monitoring technology enables wellness check-ins, along with other services. The platform operates in New York, Arizona, Texas and California, with plans to expand to four additional states by the end of 2024.
Clara Analytics scores $24M
Clara Analytics, a startup that helps self-insured employers process medical claims, received $24 million in a Series C funding round.
Clara, founded in 2017, works with employers to help their insurance adjusters identify potential areas of cost reduction. The company’s technology can also help employees find doctors who are associated with positive outcomes based on prior claims.
The lead investor was Spring Lake Equity Partners, with participation from existing investors including Aspen Capital Group, Oak HC/FT and QBE Ventures. The company has raised $60 million, including the latest round.
Data privacy company Integral gets $6.9M
Integral, a data security tech company, received $6.9 million in a seed funding round.
Integral aims to protect sensitive health data and provides automated certification software allowing healthcare and life science companies to access de-identified patient data quickly.
Nearly 25% of cyberattacks in 2022 targeted the healthcare industry, according to data cited in a July report from cybersecurity company Trustwave.
The round was led by Haystack, The General Partnership and Virtue Ventures.
