Despite the economic upheaval caused by the Coronavirus, the digital health sector remains seemingly immune, showing remarkable resilience and financial growth. Q1 2023 saw MobiHealthNews
tracking a significant surge in funding deals, amassing $2.9 billion from 82 deals, dwarfing the $1.4 billion collected from 49 sales in Q1 2019.
Leading the pack, Qure.ai received a $16 million funding round led by Sequoia India and MassMutual Ventures Southeast Asia. The capital will be utilized for geographical and product expansion and to aid in regulatory clearances. Qure.ai specializes in developing AI systems to assist medical professionals in interpreting X-rays and CT scans.
Other noteworthy beneficiaries included Sparta Science, b.well Connected Health, Cardiologs, Inato, and Wheel.
These companies received funds earmarked for various initiatives, including hiring new engineering staff, research, tech deployment, boosting sales and marketing efforts, and geographical expansion.
This healthy financial influx indicates that the digital health sector continues to thrive despite the uncertainties and challenges brought on by the Coronavirus.