StartUp Health raises US$19.3m led by Ping An Global Voyager Fund, GuideWell, Masimo
PartnerPing An Global Voyager Fund, GuideWell and Masimo
In Action Summary
StartUp Health is an accelerator founded in 2011 by Steven Krein and Unity Stoakes, the program is trying to enable entrepreneurs to realise ten healthcare based Moonshots.
Startup Health has raised $19m USD from the Ping An Global Voyager Fund, GuideWell, Masimo Corporation and a consortium of partners. The Transformer Fund II will invest and support more than 200 companies focused on health moonshots over the next two years and its previous fund has in excess of a hundred companies from 19 countries including Australia, Brazil, Canada, England, Finland, Germany, Israel, Kenya, Mexico, Netherlands, Nigeria, Spain, and the US.
Jonathan Larsen, CEO of Ping An Global Voyager Fund has said, “We are inspired by StartUp Health’s bold plan for solving the world’s biggest health challenges and are very pleased to embark on this partnership to support a generation of health entrepreneurs together. StartUp Health has created a health moonshot factory which brings us early access to the innovators transforming health on a global level. Together, we will be able to speed up innovation cycles and make a significant impact on people’s lives.”
Adding to this, Joe Kiani, CEO of Masimo Corporation has said “Our purpose is to bring extraordinary technologies to market to improve people’s health. Our partnership with StartUp Health will help us to continue to fulfill that purpose by connecting us into a global network of entrepreneurs and innovators.”
StartUp Health is creating a global army which will work together to achieve 10 Health MoonShots essential to improve global health
Ultimately, although startup accelerators have seen mixed results, the continued success of the team behind Startup health has attracted a list investors including Ping An which is important not only in terms of the capital that Ping An and its equivalents can bring to bear, but also in terms of the operational resources and expertise that legacy health insurers can deliver to startups.
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