Voluntis, a France-based company developing therapeutic companion software, has raised €20.75m ($28.8m) in a round featuring Qualcomm Ventures, the investment subsidiary of wireless technology maker Qualcomm.
Bpifrance Large Venture, a subsidiary of French state-owned investment bank Bpifrance, and venture capital firm Innovation Capital co-led the round, which also saw involvement from Vesalius Biocapital and existing investors CapDecisif Management, CM-CIC Capital Innovation and insurance company Sham.
Founded in 2001, Voluntis produces collaborative medical software that acts as a companion to specific medications or medical devices. It incorporates clinical algorithms that can assist in decision making for processes such as medication dosages.
The company had raised approximately €7.8m ($10.8m) across three previous rounds from 2006 and has now secured almost $39.6m in total equity funding.
Voluntis will invest the cash in advancing the development of its diabetes management software, developing new programmes in other chronic diseases, and building up its operations in the United States.