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
- TandemAI, a company providing drug discovery with AI and physics-based technologies integrated with full wet lab capabilities, and Perpetual Medicines, a provider of computational design-synthesis platform for peptide drug discovery, announced a merger. The combined company, to be known as TandemAI, will provide partners with an expanded range of methods and workflows for both small molecule and peptide drug discovery and bring additional leadership with an extensive track record in drug discovery and development
- The Supreme Court agreed to pause a lower court order that required the Department of Education to reinstate nearly 1,400 employees who had been laid off while proceedings over the Trump administration’s efforts to dismantle the agency continue. The high court granted a request from the Trump administration to lift for now the injunction issued by U.S. District Judge Myong Joun, which blocked the mass layoffs at the Education Department
AI News
- HL7, a global community focused on the exchange, integration, sharing, and retrieval of electronic health information, launched an AI Office to establish foundational standards for safe, trustworthy AI in healthcare and convene the global community driving this transformation
- KPMG International partnered with Hippocratic AI, a company developing safety-first generative AI healthcare agents that work alongside healthcare workers, performing non-diagnostic clinical tasks for patients. KPMG’s global healthcare professionals will collaborate with Hippocratic AI to reimagine care delivery
- The AFT, alongside the United Federation of Teachers and Microsoft, OpenAI, and Anthropic, launched the National Academy for AI Instruction. The $23 million education initiative will provide access to free AI training and curriculum for all 1.8 million members of the AFT, starting with K-12 educators
Late Stage Fundings:
Healthtech:
- Telehealth platform Truemeds has raised $20 million in its ongoing Series C round from new investor Peak XV Partners
Edtech:
- Sdui, a provider of solutions for mobile communication and organization in education, raised €95 million from Bain Capital
Early Stage Fundings
Healthtech:
- OpenEvidence, a medical search and AI application, raised a $210 million Series B round co-led by Google Ventures and Kleiner Perkins, while Sequoia Capital followed on in this round. The round also included investments from Coatue, Conviction, and Thrive
- Baraya Extended Care, a provider of long-term care and rehabilitation services in Saudi Arabia, raised a Series B round led by the TVM Healthcare Afiyah Fund and co-investors including Olayan Financing Company, Saudi Economic and Development Holding Company, ANB Capital, and SVC, among others
- Illimis Therapeutics, a biotechnology company developing innovative therapies for challenging central nervous system and immune-related diseases, raised a 58 billion KRW ($42 million) Series B financing from DSC Investment, Woori Venture Partners, Korea Development Bank, Aju IB Investment, Quad Asset Management, Company K Partners, GS Ventures, and Dayli Partners. They were joined by new investors LB Investment, TS Investment, Shinhan Venture Investment, S&S Investment, Hana Ventures, Maple Investment Partners, A Ventures, IMM Investment, Schmidt, and Industrial Bank of Korea
- evolvedMD, a Collaborative Care Management provider, raised a $34 million Series B investment led by Sustainable Investing at Goldman Sachs Alternatives. Existing investors Conductive Ventures, FCA Venture Partners, Healthworx Ventures, Tectonic Ventures, and Waterline Ventures also participated in the round
- Numan, a digital men’s health platform, raised $60 million from White Star Capital, Novator, Big Pi Ventures, Endeavor Catalyst, and HSBC Innovation Banking
- Fellow Health, a company focused on advancing male reproductive health through patient-centric testing solutions, raised a $24 million Series B financing round led by 5AM Ventures, with new participation from The Forest Road Company
- One Biosciences, a precision oncology techbio company pioneering clinical grade single-cell tumor transcriptomic profiling, raised a €15 million Series A financing led by Redmile Group and Blast, with participation from Galion.exe, Invus, Adamed Technology, Sofinnova Partners, Polytechnique Ventures, and Kima Ventures
- TriAgenics, a medical device company pioneering a non-surgical approach to third molar prevention, raised a $3 million Series B-1 financing round from Asclepius Ventures
- CDX Medical Technologies, a developer of extracorporeal membrane oxygenation pump innovation, raised $2.5 million Series A funding round led by Joe Kiani with participation from industry executives and the CDX Board of Directors
Seed Fundings
Healthtech:
- Scanvio Medical, a provider of AI-augmented ultrasound software, raised $3.4 million from StartAngels, superangels, Stöckli Medical, Venture Kick and Kickfund, SICTIC, S2S Ventures, along with numerous individual angel investors
- Ovasave, a startup focused on fertility and hormonal health, raised $1.2 million in a round led by PlusVC, Annex Investments, and 25 Madison, with additional backing from the UAE and Saudi-based strategic angel investors and prominent family offices
- Nurocor, a cloud-based software platform designed to improve efficiency, reusability, governance, and automation for pharmaceutical companies, raised $1 million from Simulations Plus
Edtech:
- SkillCo, an edtech startup helping students make more informed educational and career decisions, raised $300,000 from a mix of angel investors, Zions Bank, and early-stage Utah funds
Going public
- Carlsmed, a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions, announced the launch of its initial public offering of 6,700,000 shares of common stock
- Heartflow, a platform that uses artificial intelligence to diagnose and manage coronary artery disease, filed for an initial public offering. The company intends to have its units listed on Nasdaq under the ticker HTFL
Fund News
- Lorient Capital, an investment firm focused exclusively on healthcare, closed Lorient Healthcare Fund III, with $500 million in total commitments. The fund, which closed on June 30th, was oversubscribed, surpassing its original $350 million target
Policy and government
- The Trump administration is barring undocumented immigrant children from Head Start child care, Health and Human Services Secretary Robert F. Kennedy Jr. announced. Head Start serves 73,476 children from low-income families in California, according to an EdSource analysis. The departments of Education and Labor also announced that they are barring undocumented immigrants from federal career and technical education and adult education programs. Undocumented immigrants are already barred from using most federal programs, but a 1998 notice allowed them to access some benefits for low-income families with young children
- A federal judge in Texas removed a Biden-era finalized rule by the Consumer Financial Protection Bureau that would have removed medical debt from credit reports. U.S. District Court Judge Sean Jordan of Texas’s Eastern District, who was appointed by President Donald Trump, found on Friday that the rule exceeded the CFPB ‘s authority. Jordan said that the CFPB is not permitted to remove medical debt from credit reports according to the Fair Credit Reporting Act, which protects information collected by consumer reporting agencies
Random news
- During an interview on Fox Business, Dr. Oz, who now serves as administrator of the Centers for Medicare and Medicaid Services, told Fox host Stuart Varney that Americans should also do the most they can to stay healthy. “We’ll be there for you, the American people, when you need help with Medicare and Medicaid, but you’ve got to stay healthy as well,” Oz said. “Be vital. Do the most that you can do to really live up to the potential, the God-given potential, to live a full and healthy life.” It was his next piece of advice, however, that inspired waves of social media snark. “You know, don’t eat carrot cake. Eat real food,” he said, bringing a whole carrot cake for Varney.
(Image source: forbes.com)
