Venture capital funding in digital health sector reached a record high of USD 4.9 billion in January-June, 2018 as global tech giants expanded their presence in the space, says a report.
According to communications and research firm Mercom Capital Group llc, the global VC funding of USD 4.9 billion came through 383 deals.
The figure stood at USD 4 billion through 359 deals in January-June, 2017.
"Digital health continues to grow at a record pace and is well on its way to smashing 2017's record of USD 7.2 billion in VC funding," Mercom Capital Group CEO and Co-Founder Raj Prabhu said.
As per the report, the total VC funding in April-June held strong at USD 2.4 billion via 196 deals, including 20 Indian healthcare IT companies.
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"The space is maturing and is beginning to get the regulatory attention it deserves. Simultaneously, the tech giants are boosting digital health in a big way," Prabhu said.
Meanwhile, the total corporate funding in digital health companies - including VC, debt, and public market financing also touched a record high of USD 4.4 billion during April-June 2018 compared to USD 3 billion in the previous March quarter.
In terms of merger and acquisition, there were 116 global digital health M&A transactions in the first half of this year compared to 90 in the corresponding period last year.
"M&A activity was also up, and overall, it was a very robust first half of 2018 for digital health companies," Prabhu said.
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