Israel-based medication management platform provider Medisafe received $30m yesterday in a series C round featuring pharmaceutical firms Sanofi and Merck Group, mobile chipmaker Qualcomm and insurance provider Menorah Mivtachim.
The round was co-led by Sanofi’s corporate venturing arm, Sanofi Ventures, and medical technology fund Alive Israel HealthTech Fund, while Merck and Qualcomm invested through M Ventures and Qualcomm Ventures respectively.
Leumi Partners, a subsidiary of financial services firm Bank Leumi, filed out the round with Consensus Business Group, Pitango Venture Capital’s Pitango HealthTech subsidiary, 7wireVentures, Octopus Ventures, Lool Ventures, Triventures and Ourcrowd.
Medisafe provides a medication management software platform that utilises artificial intelligence technology to help patients take the correct amount of medication. It also records relevant behaviour for use by healthcare companies.
Cris De Luca, global head of digital investments for Sanofi Ventures, will join the company’s board of directors in connection with the round, as will David Klein, co-founder and managing partner at Alive Israel HealthTech Fund.
Octopus Ventures led a $14.5m series B round for Medisafe in 2017 that included M Ventures, Qualcomm Ventures, Pitango Venture Capital, 7wire Ventures, Lool Ventures, Triventures and Eyal Gura.
The company raised $6m of series A funding from Pitango and Triventures in 2015, two years after Triventures co-led a $1m seed round with Lool Ventures that was backed by unnamed angel investors. It had taken part in software provider Microsoft’s Tel Aviv accelerator in 2012.