Biofourmis Raises US$20m From Intel Capital
The Singapore-based healthtech unicorn company founded by Kuldeep Singh Rajput was valued at around US$1.3 billion this past April
Biofourmis, a Singapore-based healthtech company, has successfully raised US$20 million from Intel Capital, the venture capital arm of chipmaker Intel. The funds are reported to be part of a US$300 million Series D round that the company raised this past April.
Founded by Kuldeep Singh Rajput, Biofoumis is a digital health company that utilises AI to analyse biometric data to predict the onset of severe medical conditions, prompting patients to seek treatment proactively. It is reported that Biofourmis will issue 662 Series D convertible preference shares to Intel Capital at US$30,192.33 per share based on the company’s filing to Singapore’s Accounting and Corporate Regulatory Authority.
Before the latest round of investment, the startup had received US$20 million from Openspace Ventures. This latest capital injection by Intel Capital will bring Biofourmis’ Series D equity financing to nearly US$220 million.
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