Digital health company Holmusk gets US$9.75m in pre-series A funding

SINGAPORE - Digital health and data analytics company Holmusk has raised US$9.75 million (SS13.3 million) in pre-series A financing, in a round led by Heritas Venture Fund and with participation from new and existing investors.

Based in Singapore, Holmusk has offices in the US, UK and Malaysia, and this new injection of funds will allow it to expand its footprint in the US and Europe, the company said.

Essentially, Holumsk "leverages technology to accelerate research and improve outcomes for people with chronic diseases and behavioural health disorders".

It also collaborates with pharma and healthcare providers to inform predictive algorithms and offer insights for personalised medicine.

Said Chik Wai Chiew, CEO of Heritas Capital Management, which oversees Heritas Venture Fund: "Holmusk's focus on promoting healthy lifestyles and addressing chronic disease management made this an exciting opportunity to be a part of.

"Its approach of combining deep analytics with clinical research and real-world data is promising, and we are pleased to see the company on track to build upon the successes of GlycoLeap and SuperLeap and develop next generation versions in 2019."

The firm also has plans to expand its assets in behavioral health, and is developing MindLinc 2.0, which will include predictive disease models based on longitudinal patient data, it said.

Having acquired MindLinc in 2016, Holmusk said it now has one of the largest behavioural health databases in the world. MindLinc is an electronic behavioural health records management system developed by experts at the Duke University School of Medicine.

Holmusk's founder and CEO Nawal Roy said he is excited that the firm is entering the next stage of growth.

"This financing reflects the trust our investors have in us and gives us a healthy financial runway, which allows us to focus on executing and growing aggressively in our core segments of chronic disease management and behavioral health," he said. "The world is faced with unprecedented health challenges and we're thrilled to play our part in addressing them."

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