Japan-based medical booking app developer CureApp received ¥2.2bn ($20.4m) in funding from investors including diversified trading group Itochu, insurance provider Dai-ichi Life and property developer Mori Trust today.
The round also featured Mizuho Capital, the venture capital arm of financial services group Mizuho Bank, as well as holding companies Koshidaka and Intage, VC firm Iwagin Jigyo Souzou Capital and Keio Innovation Initiative (KII), Keio University’s VC arm.
The round took CureApp’s overall funding to about $39m, and Itochu participated through corporate venturing unit Itochu Technology Ventures (ITV).
CureApp has built an app that allows patients to access tailored therapeutic intervention outside of normal hospital hours. It also works with corporate clients to promote their employees’ physical and mental wellness.
The funding will be used to address struggles faced by Japan’s healthcare system, including financial challenges and a shortage of doctors. The company also plans to leverage the resources of its corporate investors to improve its digital healthcare business.
CureApp launched a US subsidiary called CureApp North America in March this year, and aims to accelerate clinical trials for app-based treatments for hypertension and non-alcoholic steatohepatitis, both at home and abroad, designing apps similar to those used to treat nicotine addiction.
The round comes after CureApp secured $14.2m in a March 2018 round featuring ITV, Dai-ichi Life, Mizuho Capital, Saison Ventures and Mitsubishi UFJ Capital, subsidiaries of payment services provider Credit Saison and financial services firm Mitsubishi UFJ.
KII also took part in the round, along with Cyberdyne, Chibagin Capital, Beyond Next Ventures and Iwagin Jigyo Souzou Capital.
The company had previously received $3.4m in an early 2017 round featuring KII, Beyond Next Ventures and SBI Investment, a VC subsidiary of financial services group SBI, following a $890,000 investment by Beyond Next two years earlier.
