Startup Trends: 5 health technology companies achieve $700M+ in funding last week
Health technology companies rarely dominate the funding headlines in the way artificial technology or consumer technology often do. While AI continues to command outsized attention from both investors and the media, healthcare innovation tends to advance more quietly — even as it tackles some of the world’s most complex and consequential challenges. It is even more uncommon to see multiple private companies within the same sector announce significant capital raises within the span of a week.
That dynamic shifted earlier this month, as five private health-related technology companies announced their securing of more than $700 million in capital. For investors seeking exposure beyond headline-driven technology trends, this activity highlights why the health sector remains an important space to watch — particularly as capital begins to concentrate around companies with proven science and clear paths to growth.
The five Forge-listed private companies that achieved these late-stage funding rounds are highlighted below:
1. Parabilis Medicines, $305 million
Parabilis Medicines, formerly FogPharma, stands out for its Helicon peptide platform, which aims to unlock historically “undruggable” targets such as β-catenin that play central roles in many cancers. On January 8, the company announced it had raised $305 million in a Series F funding round, co-led by RA Capital Management, Fidelity Management & Research Company and Janus Henderson Investors.1
In Parabilis’ announcement, the company stated that the funding will help move its most advanced cancer drug, known as Fog-001, into later-stage clinical testing while also expanding its broader pipeline of potential treatments.
This latest funding for Parabilis signals strong confidence in the private company’s ability to turn breakthrough science into real medicine. Founded in 2019 and headquartered in Cambridge, Massachusetts, the Series F round puts Parabilis’ price per share at $6.16, with a post-money valuation of $821.49 million.
2. Orca Bio, $250 million
Menlo Park, California-based Orca Bio is the developer of high-precision allogeneic cell therapies designed to safely replace a patient’s diseased blood and immune system with a healthy one. The biotech company also focuses on improving bone marrow transplants, a life-saving procedure often used to treat blood cancers and certain immune diseases.
On January 9, the private company announced it raised $250 million in a Series F round led by Lightspeed Venture Partners. This new funding for the biotechnology company will be used to prepare for potential commercialization, including expanding manufacturing capabilities and creating its therapies at scale.2
Founded in 2016, Orca’s fresh capital signals investor confidence in a potentially breakthrough next-gen cell therapy for hematological malignancies. The Series F round puts Orca’s latest price per share at $54.99, with a post-money valuation of $2.40 billion.
3. Rakuten Medical, $100 million
Founded in 2010, Rakuten Medical is another health technology firm focused on producing new cancer treatments. Rakuten approaches tackling cancer cells more precisely than traditional treatments, minimizing damage to healthy tissue and reducing negative side effects.
The San Diego-based company announced it had raised $100 million in a Series F round on January 7. This amount includes $70 million in new capital and $30 million in convertible promissory notes. In its press release, Rakuten explained that the new funding will be put toward continuing large-scale clinical trials and moving closer to regulatory approval. Its late-stage studies put the company at a pivotal period that could determine whether its therapies reach the market.3
This latest funding round for Rakuten puts the firm’s price per share at $1.03, with a post-money valuation of $636.90 million. Its current and past investors include Taiwania Capital, Axil Capital Group, SBI Group and Hikma Pharmaceuticals.
4. Pomelo Care, $92 million
New York-based Pomelo Care provides virtual care services for expectant parents and young families. Founded in 2021, its personalized care services are available from preconception through an infant’s first year, and 24/7 through a virtual platform.
On January 8, Pomelo Care announced its Series C fundraise of $92 million. In the private company’s press release, it stated the capital will be put to geo expansion and providing greater scalability to serve more families.4 The news of the fresh capital comes just months after Pomelo’s peer-reviewed report indicated that its healthcare services account for an 8.8% reduction in total costs compared to traditional maternal care.5
Founded in 2021, the startup’s Series C fundraise put its price per share at $151.14, with a post-money valuation of $1.70 billion. Pomelo’s notable investors include Andreessen Horowitz, First Round Capital, BoxGroup and SV Angel.
5. Vizgen, $48 million
Founded in 2019, Vizgen builds advanced tools that help researchers better understand how diseases work at a cellular level. The biotech company’s technology allows scientists to see where genes are active inside tissues, giving clearer insight into conditions like cancer, neurological disorders and autoimmune diseases to aid scientists’ efforts in creating optimal treatments.
On January 8, Vizgen announced its landing of a Series E funding round of $48 million, led by Arch Venture Partners, M Ventures and Northpond Ventures. In the private company’s press release, it explained that the funds will be used toward improving its commercial capabilities and scale, as well as advancing its innovation pipeline.6
New York-based Vizgen’s Series E round signals investor confidence in the demand for better research tools across the biotech and pharmaceutical industries. The round puts the private company’s price per share at $0.12, with a post-money valuation of $178.71 million.
