Plus: Babylon will cease trading on NYSE, combine with MindMaze.
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Altis Labs closes $7.9 million CAD to evaluate cancer treatments using AI (BETAKIT)
Toronto-based Altis Labs, which helps biopharmaceutical companies analyze medical imaging and expedite clinical trials using artificial intelligence (AI), has secured $7.9 million CAD ($6 million USD) in seed funding.
Aledade clinches $260M to fuel M&A, expand value-based care solutions for practices (FIERCE HEALTHCARE)
The health tech industry may be in the middle of a market downturn, but Aledade has picked up $260 million in series F funding to fuel its continued growth.
Aledade, now valued at $3.5 billion, uses data analytics software to help independent doctors’ offices transition to value-based models.
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Train Fitness closes $2.5 million USD to expand automatic workout-tracking app for strength training (BETAKIT)
Train Fitness, a Toronto fitness-tech startup, has secured $2.5 million USD in seed funding for its app that it claims can help users log strength-training workouts automatically by leveraging proprietary machine learning models and the existing motion recognition capabilities integrated into the Apple Watch.
Babylon will cease trading on NYSE, combine with MindMaze (MOBIHEALTHNEWS)
Multinational digital health firm Babylon announced it has accepted a take-private proposal from AlbaCore Capital on behalf of its affiliate digital-neurotherapy company MindMaze, which will transition Babylon from a publicly-traded company to a private entity.
2022 angel investment in Canada mirrored VC dip, dropping 37 percent year-over-year (BETAKIT)
According to NACO, despite record demand, total angel investment in Canada during 2022 fell 37 percent year-over-year to $166 million CAD. Last year, angel organizations facilitated 653 investments in 379 companies.
While deal count rose slightly in 2022 compared to 2021, NACO noted a trend towards follow-on angel investments.
DexCare Rakes In $75M to Optimize Health Systems’ Digital Care Management (MEDCITYNEWS)
Providence spinout DexCare recently closed a $75 million Series C funding round, bringing its total funding to date to $146 million.
The startup gives health systems a platform that helps them coordinate and manage digital care services.
Collision will remain in Toronto for 2024 (BETAKIT)
The one-year extension of the original 2019 deal comes after BetaKit reported the future of the conference was in question due to the departure of Mayor John Tory and increased financial asks.
Stanford Medicine launches initiative to advance responsible AI in healthcare (FIERCE HEALTHCARE)
This week, Stanford Medicine and Stanford Institute for Human-Centered Artificial Intelligence (HAI) launched Responsible AI for Safe and Equitable Health (RAISE-Health) with the goal of addressing critical ethical and safety issues regarding the technology.
Synthetic biology startup Ardra is brewing up big plans with its fermentation technology (BETAKIT)
Ardra Bio, a fermentation startup working to develop ingredients for the natural flavours, perfume, and cosmetics industries by fermenting natural sugars, found itself in trouble at the end of last year.
Its manufacturing partner had gone bust, the backup manufacturer was slowed by a COVID-19 wave, and the venture market looked to be in downturn.
How is Ardra still navigating all this while staying optimistic?
Investors say they have uncovered financial irregularities at Mojocare (TECHCRUNCH)
Mojocare investors have found “financial irregularities” at the Indian health and wellness startup and are moving to scale down its operations, they said in a statement Sunday.
Mojocare joins an alarming roster of Sequoia-backed startups in the Asian region facing allegations of misconduct. GoMechanic, Zilingo, BharatPe and Trell also have had governance and auditing issues in the past year-and-a-half.
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Alex Riehl
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