Singapore-based healthtech startup Holmusk has secured around $21.5 million in its Series A funding round on Monday, the media reported.
The funding round for Holmusk was led by Optum Ventures and Health Catalyst Capital and included existing investors Heritas Capital, as well as other individuals.
Reportedly, Dr. Vijay Barathan from Optum Ventures and Charles Boorady from Health Catalyst Capital will join the company’s board of directors.
Homusk will use the funding to invest in the Real-World Evidence platform to accelerate drug development and data-driven medicine.
Nawal Roy, Holmusk’s founder and chief executive officer told the media, “In situations like today, the need for Real-World Evidence is more pronounced than ever. We are fortunate to bring on partners like Optum Ventures and Health Catalyst Capital who understand the importance and are excited to join us in our mission to drive evidence-based care.”
According to Holmusk, it is developing a Real-World Evidence platform in behavioral health and chronic diseases to expand data-driven, evidence-based care for people managing behavioral health conditions.
The new funding will also allow Holmusk to expand its operations in the US. The startup currently has offices in Singapore, London, New York, and Shanghai.
So far, the startup has raised a total of $31.3 million in separate funding rounds. In 2018, the startup raised $9.8 million in its seed funding round.
According to media reports, Holmusk signed a Memorandum of Understanding (MoU) with Janssen Research & Development Centre in 2015, to explore the development of a digital mental health strategy in China.
In 2016, Holmusk bought MindLinc, an Electronic Health Record (EHR) system focused on behavioral health,from Duke University School of Medicine.