Home Business News Top start-ups providing solutions during coronavirus hits $433.2m in funding

Top start-ups providing solutions during coronavirus hits $433.2m in funding

by Peter Smyth Tech Journalist
20th May 20 4:38 am

The growing number of startups from all sectors and industries are offering their help and expertise to fight the coronavirus pandemic.

According to data gathered by AksjeBloggen, the five leading US startups providing solutions during coronavirus outbreak reached $433.2 million in total funding. With over 40% of that amount or $176.1 million in funding, the US diagnostic service provider Ro ranked as the leading company.

Recent years have witnessed a boom in the global start-up funding, with more and more individuals and companies investing funds into innovative business ideas. The 2019 US Startup Outlook revealed that almost 60% of all innovation hubs last year were based in the United States. Analyzed by industry, more than 65% of startups were operating in the technology sector and 16% of them in the healthcare system.

As the leading US startup in these fields, the New York-based healthcare technology company Ro has launched a free digital assessment for COVID-19. The service asks people about their symptoms and, if necessary, connects the user with a doctor for further consultation through a video call.

The San Francisco-based digital health company Nurx ranked as the second highest-funded startup providing solutions during the pandemic, revealed the Statista and Crunchbase data. The company acquired a total of $93.4 million in funding over six rounds, and their latest funding was raised in August 2019 from a Series C round.

Along with two other US startups from the healthcare services segment, EverlyWell and Carbon Health, Nurx planned to offer at-home test kits for COVID-19 through mail order in the United States.

The Crunchbase data revealed Carbon Health, as the third startup on this list, had raised a total of $72.5 million in funding over six rounds. Their latest funding was allocated on May 11th from a Series B round when Data Collective DCVC invested another $28 million in the company.

With $50 million in total fundraising, the EverlyWell ranked as the fourth highest-funded startup providing solutions to fight the coronavirus. The Austin-based company is specialized in developing do-it-yourself kits for a broad range of at-home regulatory-compliant diagnostic tests including food sensitivity, fertility, hormones, STDs, thyroid, and metabolism among the others, allowing users to perform tests at home and receive physician-reviewed results and insights on their mobile devices.

The AI-based solutions for fighting coronavirus

As the fifth highest-funded company on this list, and the only artificial intelligence startup, the San Francisco-based Metabiota acquired a total of $41.2 million in funding over four rounds. As a pioneer in comprehensive risk analytics that improves the world’s resilience to epidemics, the company is specialized in delivering actionable, data-driven insights that help governments manage and mitigate infectious diseases.

In February, Metabiota created a near-term forecasting model of the coronavirus naming China, Japan, Italy, Iran, South Korea, Thailand, the United States, Taiwan, Australia, and the Philippines as countries at-risk.

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