HealthTech and EdTech weekly roundup #2
Healthtech and edtech are two of the fastest growing sectors, with the healthtech market size to reach $3.1 billion by 2033, while the global education technology market size is projected to reach $348.41 billion by 2030.
Each week will do a roundup of the top news, fundings, and IPOs from these two sectors.
Top News
Following a series of executive departures, Amazon is now restructuring its health business, telling CNBC that Amazon Health Services will be divided into six new units, with a goal of creating a simpler structure. As part of the effort, the company has tapped a number of longtime Amazon leaders and elevated some One Medical executives to oversee the divisions. Neil Lindsay, senior vice president of Amazon Health Services told CNBC in an interview that the company has been working on the overhaul for the past several months. The reorganization comes after Amazon lost several senior health leaders in recent months. Dr. Vin Gupta, who joined in 2020 and served as chief medical officer of Amazon Pharmacy, left in February, followed by Trent Green, whose last day as CEO of Amazon’s primary care chain One Medical was in April.
Pearson plans to boost its workforce in India by about 43% to 2,000, months after the education firm named India one of its top three priority markets globally. Pearson India operates in education and assessment markets, targeting school goers, students aspiring for colleges overseas and corporate professionals. The company will hire across various functions, including local business operations and global tech, over the next three years, Gupta said, while ruling out the launch of any new office location. It currently has offices in Noida, Bengaluru and Chennai.
Early Stage Fundings
Healthtech:
Kouper, a health technology platform designed to transform transitions of care, raised $10 million in funding from General Catalyst, 25Madison, and CVS Health Ventures
Autonomize AI, an AI-driven healthcare solution, raised $28 million in Series A funding in a round led by Valtruis, The Cigna Group Ventures, Tau Ventures, and other strategic investors. Asset Management Ventures, ATX Venture Partners and Capital Factory are among the company’s existing investors who also participated
Ellipsis Health, developer of emotionally intelligent AI for healthcare, raised a $45 million Series A funding round, led by Salesforce, Khosla Ventures, and CVS Health Ventures. Previous investors, Mitsui Global Investment, Collier, E12, and AME Cloud Ventures, also participated in the round
Eli, developer of a device to measure hormones in real-time, raised $12 million in Series A funding in a round led by BDC Capital’s Thrive Venture Fund, with participation from Muse Capital and TELUS Global Ventures
Zorro, a benefits administration platform using advanced technology and big data to transform how America’s workers plan, pay and save for healthcare, raised $20 million in a Series A round led by Entrée Capital, with participation from existing investors 10D and Pitango
Commons Clinic, a modern multi-specialty clinic, raised a $26 million Series B round led by RA Capital, with participation from Floating Point, SteelSky Ventures, Time BioVentures, Courtside Ventures, and Commons Clinic physicians
Enterome, a clinical-stage company developing OncoMimics immunotherapies to treat cancer, raised $19 million from new investor The Institute for Follicular Lymphoma Innovation and existing specialist investors, including The Leukemia & Lymphoma Society Therapy Acceleration Program
Dilon Technologies, a developer of medical devices for biosurgery and breast cancer treatment and diagnosis, raised $9 million growth capital investment from JGB Management Inc
Guidehealth, an AI-driven health care technology and services company, raised $10 million from Emory Healthcare,
Edtech:
Knowunity, developer of an AI powered learning platform for students, raised €27 million in a Series B round led by XAnge, with participation from Portfolion, Isomer Capital, Project A, Redalpine and Educapital, alongside business angels, entrepreneur and Startup Association Chair Verena Pausder, and Booking.com Founder Arthur Kosten
AI Professionals University, an online platform for results-driven AI education, raised an undisclosed amount of Series A funding round.
Seed Fundings
Healthtech:
Sefit Health, developer of VR-based therapeutic tools to help individuals with impaired stimulus filtering, raised CHF150,000 from Venture Kick
Somnee, a sleep technology company delivering AI-powered neurotech and software, raised $10 million in a seed extension round led by Khosla Ventures, with participation from Marc Benioff’s TIME Ventures, LEAD VC, the NBA’s Orlando Magic ownership group, Seaside Ventures, Nelstone Ventures, and Metalab
Elkedonia SAS, a company pioneering a novel neuroplastogen approach to develop therapeutic agents to treat depression and other neuropsychiatric conditions, raised a EUR 11.25 million seed funding round co-led by Kurma Partners, WE Life Sciences and the French Tech Seed fund managed on behalf of the French government by Bpifrance as part of France 2030, with participation from Argobio, Angelini Ventures, CARMA Fund, Capital Grand Est and Sambrinvest
Kera Health Platforms, developer of an AI-powered digital infrastructure to unify and streamline fragmented healthcare services raised a $10 million seed round from The International Finance Corporation
32 Biosciences, a gut microbiome medicine company, raised $6 million
Atraverse Medical, a medical device company pioneering next-generation transseptal access technology, raised $29.4 million
Perci Health, a virtual cancer clinic, raised £3 million from new investors Guinness Ventures and Conduit Fund, along with existing investors Octopus Ventures and 35 of the UK’s oncologists and cancer surgeons
Ryght AI, a provider of real-time generative AI solutions for the clinical research industry, raised a $3 million seed round led by Foothill Ventures
Policy and government
The House passed a “recissions” proposal to cancel $9.4 billion in money Congress already appropriated, including $900 million in funding for global health initiatives. Four Republicans voted against it. The vote codifies cuts championed by the Department of Government Efficiency, which was led by billionaire Elon Musk. It includes slashing $500 million of the $6 billion appropriated in fiscal year 2025 for global health programs like the President’s Emergency Plan for AIDS Relief (PEPFAR) that are within the Department of State and $400 million of the $4 billion appropriated for USAID global health programs. Included in that plan is ending all funding for Gavi, a global program that purchases shots to help vaccinate children in developing countries against some of the world’s deadliest diseases.
Random news
TikTok is preventing users searching for “skinnytok” – a hashtag which critics say directs people towards content which “idolises extreme thinness.” Content associated with the hashtag includes videos showing people’s work-out routines or what they eat in a day. TikTok said it had “blocked search results for #skinnytok since it has become linked to unhealthy weight loss content.” People using the hashtag will now be redirected to mental health support resources instead.
(Image source: josiahmacyfoundation.org)
