AVCJ

Japan's Mitsui Global backs clinical SaaS start-up

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

Japan’s Mitsui Global Investment and Dolby Family Ventures have together invested $12 million in cloud-based, clinical study software start-up goBalto.

Headquartered in Silicon Valley, with bases in Pennsylvania and Singapore, goBalto was set up by Jae Chung - founder of Korean bio-pharma company Celltrion - and is led by CEO Sujay Jadhav.

GoBalto is a software-as-a-service (SaaS) company focused on the pharmaceutical, biotechnology, and medical device industries. Its product offering includes two clinical SaaS platforms, Activate and Analyze, which help clients manage clinical study workflows and data analysis, respectively.

The company claims that its flagship platform, Activate, has seen a 20% increase in usage in the past year, with clients in 55 countries. Previous backers include Aberdare Ventures, EDBI, Qualcomm Life, and West Health Investment Fund.

According to release, the start-up intends to use this latest round to help scale up the business and develop new software. Masashi Kiyomine, investment director with Mitsui Global, has joined goBalto’s board of directors.

“GoBalto is a leading player in the study startup space. They have the potential to become the global de facto standard in SSU (study start-up) in the near future,” said Kiyomine. “They’re developing new and innovative solutions as we speak.”

  • LinkedIn  
  • Google plus  
  • Save this article  

More on North Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs