According to a new report from CB Insights, global investment in telemedicine increased by 169% year-on-year, reaching a new high of US$5 billion by the second quarter of 2021.
The report shows that telemedicine funding increased by 17% in the first quarter of 2021, during which there were 154 transactions with an investment of US$4.3 billion. There were 163 transactions in the second quarter, and the top five alone represented $1.6 billion in funding-about 30% of the total raised.These include weight loss apps noom raises 540 million US dollars Start a business with an online pharmacy Capsule raises 300 million US dollars. [Click image to enlarge]
In the second quarter, six telemedicine companies joined the Unicorn Club: Nome, get, Brain, LetsGetChecked, Thirty Madison and capsule. Currently, there are 27 telemedicine unicorns in the world, with a total value of 55 billion U.S. dollars.
Remote treatment, counseling, and nursing management appear to be the most popular investment areas, accounting for 37% of the total transaction share in the second quarter of 2021. The second is the field of remote monitoring and diagnosis, accounting for 20%, followed by telemedicine providers and platform markets, accounting for 19%.
The funding of the latter-telemedicine providers, platforms and markets-dropped sharply from US$1.8 billion in the first quarter to US$1 billion in the second quarter of this year. On the other hand, the remote treatment, coaching, and nursing management departments experienced the opposite situation during the same period, with funding climbing from approximately US$1 billion to US$1.8 billion.
In terms of telemedicine investors, there are five outstanding performances. According to the report, General Catalyst, Optum Ventures, Oak HC/FT Partners, Khosla Ventures and Founders Fund have become the most active venture capital investors in this field.
Contrary to initial public offerings or deals with special-purpose acquisition companies, mergers and acquisitions pushed venture capital companies to exit the telemedicine sector in the second quarter.
A total of 35 mergers and acquisitions occurred this quarter, of which Walmart acquires MeMD and Bright Health buy Zipnosis. [Click image to enlarge]
The report is created based on data from the CB Insights emerging technology insight platform. For more details about the method, Download the report here.
Image: Feodora Chiosea, Getty Images, CB Insights
