US-based lung diagnostics tool developer Vida Diagnostics increased its series C funding to $13m yesterday with $2m from OSF Ventures, the corporate venturing arm of care provider OSF Healthcare.
The March 2020 first close featured UnityPoint Health Ventures, a subsidiary of health system UnityPoint Health, along with trade body Iowa Farm Bureau Federation’s Rural Vitality Fund, Blue Heron Capital, Next Level Ventures, Chartline Capital Partners, Rittenhouse Ventures, Iowa First Capital Fund and Angels’ Forum.
Founded in 2004 as a spinout from University of Iowa, Vida provides artificial intelligence-driven lung imaging analysis software to inform the diagnosis and treatment of diseases including cancer, asthma and chronic obstructive pulmonary disease.
The cash will go to product development as Vida responds to medical needs arising from Covid-19. Its total debt and equity financing now stands at $27.1m, including $1m invested by UnityPoint Health Ventures in July 2019.
Chartline Capital Partners, Rural Vitality Fund, Iowa Seed Fund, Northern California Investment Fund, Next Level Ventures and Rittenhouse Ventures had supplied $5.1m in series B funding for the company in 2016.