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According to Bloomberg, the brain-implant chipmaker raised $93 million in funding, increasing the startup's valuation to approximately $500 million.
HATCo will spend a total of $550 million in capital funding to invest in technologies and innovation.
The guidance aims to help countries move toward healthcare digitization through a person-centered point of service system.
The company also reported Q3 2024 earnings, noting total revenue of $76.4 million, adjusted EBITDA of $7.3 million and a net loss of $14.7 million.
The company will use the funds to expand in Asian and U.S. markets, advance its AI algorithms and grow its workforce.
The company reported a 77% YOY increase in revenue in Q3 2024 and plans to release a generic version of Novo Nordisk's GLP-1 drug on its platform in 2025.
Last week, the wearables company announced it opened an investigation into apparent manipulation in trading its common shares following a 1-for-15 reverse stock split.
The investigation follows shareholder approval of a 1-for-15 reverse stock that took effect earlier this week.
Vineeta Agarwala, general partner at Andreessen Horowitz (a16z) Bio + Health, sat down with MobiHealthNews to discuss knownwell's expansion into Texas.
The employer-focused hybrid care provider will use the funds to scale its operations and expand access to its preventative care model.