Astarte Medical Secures $5 Million Series A Funding to Advance NICUtrition Platform for Personalized Neonatal Care

VCBeat (WeChat ID: vcbeat) has learned that on May 7, 2019, precision medicine company Astarte Medical completed a $5 million Series A financing round. The round was jointly invested by Viking Global Investors, Lunsford Capital, OCA Ventures, Keiretsu Forum Mid Atlantic, Keiretsu Capital Fund, Ben Franklin Technology Partners, Wing VC, and Next Act Fund.

The funds will be used to continue the development of NICUtrition, a preterm infant care software under Astarte Medical, by enhancing its digital tools and diagnostic suites. Reportedly, these digital tools and diagnostic suites can be utilized in neonatal intensive care units (NICUs) to enable scientific care. According to Crunchbase, Astarte Medical has completed three rounds of funding since its inception. Notably, in November 2018, the company secured an undisclosed amount of investment from Next Act Fund.

Astarte Medical is a precision medicine company headquartered in Pennsylvania, USA, founded by Tracy Warren, a female entrepreneur with 15 years of experience in the healthcare sector. The company is the first to focus on infant health from birth through the first 1,000 days, dedicated to developing technological platforms to address the medical needs of patients with high-risk pregnancies and premature infants. In October 2018, the company was selected for the eighth cohort of the Illumina Accelerator, receiving a six-month funding program.

It is reported that over 380,000 preterm infants are born in the United States each year. The period from birth to 1,000 days represents the most vulnerable phase for an infant’s gut health, as well as a critical window for physical growth and brain development, particularly for preterm infants. Therefore, maintaining healthy gut function during this period is crucial for preterm infants. However, the high complexity of the gut microbiota in preterm infants poses challenges for healthcare providers in neonatal intensive care units (NICUs), hindering their ability to deliver personalized care and feeding regimens.

Astarte Medical is developing a software solution named NICUtrition. This specialized software for preterm infant care leverages quantitative data on intestinal health status to deliver personalized care plans, enabling optimized nutritional feeding and quantified assessment of gut health, thereby improving growth outcomes in preterm infants.

Tracy Warren, CEO and Co-Founder of Astarte Medical, stated, “This funding will enable us to further refine NICUtrition to address the significant medical needs in neonatal intensive care units (NICUs), thereby reducing the risk of infection in preterm infants and promoting their healthy growth. Our software will automate and standardize care and feeding protocols for preterm infants, streamlining clinical workflows and enhancing efficiency.”

Viking Global Investors, founded in 1999 and headquartered in Connecticut, USA, is a global investment firm managing over $20 billion in assets.

Lunsford Capital is a private equity firm headquartered in Kentucky, United States. The firm’s investment sectors include technology, healthcare, entertainment, and real estate.

OCA Ventures, established in 1999 and headquartered in Illinois, USA, is a venture capital firm. The firm invests across numerous sectors, with a particular preference for startups in technology, financial services, education, and healthcare.

Keiretsu Forum Mid Atlantic, established in 2010 and headquartered in Michigan, USA, is a venture capital firm.

Keiretsu Capital Fund, established in 2007 and headquartered in Washington State, USA, is a venture capital firm.

Ben Franklin Technology Partners, established in 1982 and headquartered in Pennsylvania, USA, is a venture capital firm. The firm has cumulatively invested $165 million.

Wing VC, established in 2013 and headquartered in California, USA, is a venture capital firm.

Next Act Fund, established in 2017 and headquartered in Pennsylvania, USA, is an angel investment firm. The firm aims to invest in startups founded or led by women.

(Compiled by Jiao Yanli)