Investing
2020 is shaping up to be a record-breaking year for digital health startups.
The company says it wants to build a system that generates more drug candidates with fewer experiments in less time.
Along with funds announced a few months back, this brings the round's total to $20.8 million.
The acquisition deal is worth $300 million, per CNBC.
The funding will go towards expanding their existing markets and for future scaling within Europe and Asia.
This brings their total Pre-Series A round funding amount to $3.4 million.
The round was led by Costanoa Ventures and Spark Capital with participation from Homebrew, Fika Ventures, Precursor Ventures, Core Innovation Capital, Garuda Ventures and Webb Investment Network.
Willow also reported a 140% increase in revenue growth year-over-year from 2018 to 2019, supported by a 120% growth in its mom user base YoY.
Both companies are aiming to expand their footprint in APAC and Japan to meet the region’s growing senior care needs.
With this financial support, Freeletics plans to develop new technologies, expand into new markets – especially in the U.S. – and create new business verticals.