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VCCI fund managers chosen for latest, $350 million injection of federal capital (BETAKIT)
HarbourVest Partners, Teralys Capital, Kensington Capital Partners, and Northleaf Capital have been chosen to dole out the $350 million that was committed in the federal Budget 2021. Each of the four firms also managed the previous round of VCCI capital.
Telehealth unicorn Cerebral lays off 20% of staff for 'operational efficiencies' (TECHCRUNCH)
“Today’s changes are part of Cerebral’s ongoing transformation program, which drives to create more sustainable growth and stability, while further delivering our mission to democratize access to high-quality mental health care for all,” a Cerebal spokesperson told TechCrunch. “These changes are focused specifically on realizing operational efficiencies while prioritizing clinical quality and safety across the organization.”
Graphite Ventures appoints Omi Velasco as principal to lead Western Canada deals (BETAKIT)
Velasco has been an active member of Alberta’s tech ecosystem for about five years, both as an entrepreneur and investor. Early in her career, she co-founded Sandpearl Spa, which was later sold in 2016.
Mindbody lays off unknown number of SLO workers amid ‘economic uncertainty’ (THE TRIBUNE)
According to company media representative Tracy Richmond, Mindbody laid off workers due to “new challenges” for the industry post-coronvirus pandemic.
“While the wellness industry continues to recover from the impact of the pandemic, increased economic uncertainty and inflationary pressures have slowed progress and created new challenges for our industry to navigate,” she told The Tribune.
Teladoc shares jump as Q3 losses narrow, revenue exceeds expectations amid turbulent year (FIERCE HEALTHCARE)
Revenue during the most recent quarter rose 17% to $611 million from $522 million a year ago, slightly surpassing analysts' expectations of $609 million.
Why Potloc founder Rodolphe Barrere tries to fire himself every six months (BETAKIT)
Not all startup founders go on to become growth CEOs, and Barrere said he’s had multiple opportunities to exit Potloc, either selling the company entirely or bringing on a professional CEO. However, he always decided against it.
Exclusive: Google quietly acquired a Seattle digital health startup that built an app to monitor breathing (GEEKWIRE)
The tech giant acquired Sound Life Sciences, a small University of Washington spinout that developed an app to monitor breathing, GeekWire has learned. A Google spokesperson confirmed the purchase of the company on Tuesday. Google did not provide additional information about the transaction, including when it occurred and an acquisition price.
VoxNeuro closes $4 million to help diagnose concussions and Alzheimer’s disease (BETAKIT)
“After a brain injury of any description … there is always the question that is asked by the physician or healthcare provider, ‘Can he or she hear me? Do they understand what I’m saying?’” VoxNeuro co-founder and chief science officer John Connolly told BetaKit in an interview. “And they still reply, ‘We don’t know.’”
At internal AI conference, Amazon executives discuss using machine learning to revolutionize drug discovery, genomics, clinical trials, and more (INSIDER)
Last week, a group of Amazon scientists and engineers gathered to dream big. The event was all about machine learning, a powerful type of artificial intelligence that has already transformed Amazon's business and those of other tech giants.
What was different about this AI conclave was its focus on audacious possibilities in the medical field, such as using ML to revolutionize drug discovery, clinical trials, genomics and related areas.
23andMe betting big on its genomic health service that integrates genetics with primary care (FIERCE HEALTHCARE)
The company, which went public a year ago, has since amassed a huge database of genetic data based on its 13 million users. 23andMe has pivoted its strategy to leverage its trove of data for research and to make and sell its own therapies. The company also is expanding its core consumer genetic testing into a new business line called its genomic health service.
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