NowRx's online pharmacy crowdfunds $20M, Activ Surgical closes $15M and more digital health funding news

Also: Noteworth's $5 million seed round, Qualio's $11 million Series A and Cohere Health's $10 million Series A.
By Dave Muoio
03:15 pm

NowRx, an online pharmacy that specializes in same-day, same-hour prescription deliveries – wrapped up a $20 million Series B funding round, again through crowdfunding platform SeedInvest. The company said this brings its total raise to $30 million.

NowRx combines proprietary pharmacy management software with last-mile logistics to provide a consumer app that simplifies orders and ensures prompt deliveries. With its latest raise, the company will be establishing more of its "micro-fulfilment centers" to extend its areas of operation, as well as to accelerate the technology of its software platform.

“By re-engineering pharmacy management software and deploying modern automation technology in our low-overhead, high-tech micro-fulfillment centers, NowRx provides a far better customer experience at the same or better margins than the largest players in the industry,” Cary Breese, CEO and cofounder of NowRx, said in a statement.

Digital surgery startup Activ Surgical closed a $15 million venture round led by ARTIS Ventures. LRVHealth, DNS Capital, GreatPoint Ventures, Tao Capital Partners and Rising Tide VC also took part in the raise. The new round brings Activ Surgical to a total fundraise of $32 million.

The company develops hardware-agnostic technology that uses computer vision and robotics to drive autonomous and collaborative surgical procedures. With the $15 million, it plans to expand its ActivEdge platform in Europe and accelerate its commercialization in the U.S.

“We believe Activ Surgical’s platform and technology are poised to transform the surgical space by enabling existing surgical systems and robots to visualize what surgeons can’t and guide them, thus making surgeries safer, reducing errors and improving patient outcomes,” Ameena El-Bibany, principal at ARTIS Ventures, said in a statement. “They have achieved major milestones in just a few years, advancing their technology from early proof of concept to their first market-ready product to be launched with early access partners in 2021."

Jersey City, New Jersey-based Noteworth, a cloud-based data platform for healthcare, announced $5 million in seed funding. Laconia Capital Group led the round, which also included Draper Associates, Frontier Ventures, Techstars Ventures, Wavemaker360, Springtide Capital and other unnamed backers.

The company's software supports care through data collection and management, patient engagement and remote patient-monitoring. The startup said that it will be using its new funds to build out its operations, make new strategic hires and further support the Noteworth platform.

"Noteworth is a rising star in the field of digital medicine,” David Arcara, managing partner of Laconia Capital Group, said in a statement. “Their ability to provide unprecedented healthcare data collection, assessment and proactive intervention across all current digital healthcare information silos, consistent with our investment thesis focused on digital workflow transformation, is what prompted our investment in this critical technology that is modernizing healthcare delivery."

Qualio – a quality management system built for medical device, pharmaceutical, biotech and contract service provider customers – has brought in an $11 million Series A round that it notes was raised "without a single in-person investor meeting." Storm Ventures headed the raise, while Sorensen Ventures, MHS Capital, Frontline Ventures and the founders of Flatiron Health and Plaid played roles as well.

Qualio's cloud-based platform looks to replace paper process-based quality management software with an easy-to-implement, easy-to-scale alternative. It did not outline how the new funds would be deployed.

“Customer trust, a key pillar of Qualio’s mission, is everything in life sciences,” Robert Fenton, Qualio’s founder and CEO, said in a statement. “Securing this funding during these uncertain times demonstrates the strength of our cloud quality management software, which unites fragmented teams, tools, and data, enabling all Life Sciences companies to become quality-driven. It also signals our commitment to simplifying complex quality processes so that life-saving products can be brought to market quickly and scaled successfully.”

Health IT platform Cohere Health has announced its launch alongside $10 million in Series A funding. Flare Capital Partners led the investment, which also saw contributions from Define Ventures and an unnamed "leading national strategic partner."

Cohere Health's system places a focus on transparent care over siloed processes, and value-based agreements over fee-for-service. Outside of the launch, the company did not outline specific plans in its announcement.

“The current system is resource-intensive, unwieldy and creates a frustrating experience for patients, physicians and health plans," CEO Siva Namasivayam said in a statement. "There’s no reason it should be so miserable for everyone involved. We have the evidence-based clinical algorithms, human-centered design and innovative technology to improve the system dramatically.”


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