France-based remote healthcare diagnostics developer BioSerenity received €50m ($56.5m) in series B funding on Tuesday from a consortium led by computer design software producer Dassault Systèmes.
Private equity firms Idinvest Partners and LBO France also participated in the round, as did French state-owned investment bank BPIfrance, which took part through its PSIM fund.
The company also secured $17.5m in debt financing from three financial services firms, though only BNP Paribas was identified.
Founded in 2014, BioSerenity is working on technology that will remotely diagnose and monitor pregnant women as well as patients living with chronic diseases in the cardiology, neurology, sleep disorder and urology fields.
The company’s offering consists of wearable medical devices and sensors which are integrated into textiles, in addition to mobile apps and a cloud-based platform that exploits artificial intelligence and provides access to specialists who can interpret data around the clock.
BioSerenity has partnered more than 200 hospitals in France and the US and will use the capital to drive further international expansion, develop additional telemedicine products and expand its focus to cover additional disease areas.
The round follows an $18m series A round led by LBO France in 2017 that also featured PSIM and Idinvest Partners, and $3.2m in seed capital raised from Kurma Partners’ life sciences fund Kurma Diagnostics and Idinvest Partners in 2015.
Pierre-Yves Frouin, BioSerenity’s president, said: “With this new round of financing, we not only receive the means to pursue our growth, we also reinforce our partnership with Dassault Systèmes, a company that is at the forefront of innovation in healthcare.”
