Biofourmis raises $35M to develop smarter treatments for chronic diseases

Biofourmis, a Singapore-based startup pioneering a distinctly tech-based approach to the treatment of chronic conditions, has raised a $35 million Series B round for expansion. The round was led by Sequoia India and MassMutual Ventures, the VC fund from Massachusetts Mutual Life Insurance Company. Other investors who put in include EDBI, the corporate investment arm of Singapore’s Economic Development Board, China-based healthcare platform Jianke and existing investors Openspace Ventures, Aviva Ventures and SGInnovate, a Singapore government initiative for deep tech startups. The round takes Biofourmis to $41.6 million raised to date, according to Crunchbase. This isn’t your typical TechCrunch funding story. Biofourmis CEO Kuldeep Singh Rajput moved to Singapore to start a PhD, but he dropped out to start the …

UK sets out safety-focused plan to regulate internet firms

The UK government has laid out proposals to regulate online and social media platforms, setting out the substance of its long-awaited White Paper on online harms today — and kicking off a public consultation. The Online Harms White Paper is a joint proposal from the Department for Digital, Culture, Media and Sport (DCMS) and Home Office. The paper can be read in full here (PDF). It follows the government announcement of a policy intent last May, and a string of domestic calls for greater regulation of the internet as politicians have responded to rising concern about the mental health impacts of online content. The government is now proposing to put a mandatory duty of care on platforms to take reasonable …