AAA Medisafe personalises $14.5m series B

Medisafe personalises $14.5m series B

Israel-based digital health company Medisafe yesterday received $14.5m in series B funding from a consortium that included M Ventures, the corporate venturing unit of pharmaceutical firm Merck KGaA.

Qualcomm Ventures, the investment arm of chip maker Qualcomm, also took part alongside Octopus Ventures, which led the round, Pitango Venture Capital, 7wire Ventures, Lool Ventures, Triventures and Eyal Gura.

Medisafe operates a cloud-based platform that engages patients through educational videos, coupons and motivational messages based on the user’s needs to help ensure they adhere to their medication.

The capital will drive recruitment of sales and marketing staff, add features to the platform and support the opening of a European office in London.

Pitango and Triventures previously supplied $6m in series A funding in 2015, following a $1m seed round in 2013 co-led by Triventures and Lool Ventures, with participation from assorted angel investors. Medisafe participated in Microsoft’s Tel Aviv accelerator in 2012.

Edward Kliphuis, investment director of the New Businesses fund at M Ventures, said: “M Ventures invests globally in transformational ideas driven by great entrepreneurs. Technology enabled healthcare with the goal to improve patient outcomes is a key area of focus for us.

“We believe that Medisafe is perfectly positioned to address the issue of medication non-adherence through its technology platform, and ultimately improve patient outcomes by doing so.”

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