Digital health firm Holmusk raises $13m in funding

Digital health and data analytics company Holmusk has raised US$9.75 million (S$13.3 million) in pre-series A financing that will be used to expand further overseas.

The funding round was led by Heritas Venture Fund and included new and existing investors.

Singapore-based Holmusk, which has offices in the United States, Britain and Malaysia, focuses on devising help 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.

Holmusk founder and chief executive officer 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 behavioural health.

"The world is faced with unprecedented health challenges and we're thrilled to play our part in addressing them."

Mr Chik Wai Chiew, chief executive of Heritas Capital Management, which oversees Heritas Venture Fund, said: "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."

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

Holmusk acquired MindLinc in 2016. The company is an electronic behavioural health records management system developed by Duke University School of Medicine.

Holmusk said that the acquisition has now given it one of the largest behavioural health databases in the world.

A version of this article appeared in the print edition of The Straits Times on September 26, 2018, with the headline 'Digital health firm Holmusk raises $13m in funding'. Print Edition | Subscribe