Semiconductor giant Qualcomm’s venture arm also took part in the round as a new investor, alongside existing financers Aberdare Ventures, West Health Investment Fund and founding CEO Jae Chung.
The round brought goBalto’s total financing to $21m.
goBalto said it planned to use the cash to improve its flagship product for clinical study startup.
Chung said, “The clinical research industry still has to make do with decade-old legacy solutions.
“With this financing we will be able to support the growing global demand of enterprise customers seeking user friendly, cloud-based collaboration technologies that accelerate the delivery of medicines to those in need.”
EDBI president and CEO Swee-Yeok Chu said the investment would strengthen Singapore’s position as the Asia Pacific clinical trials hub as the company expands into the country.
In October EDBI joined telecommunications company Telstra to invest in Australian online video management company Ooyala‘s Series E round.
Ooyala said it would establish a new hub in Singapore following the deal to house its regional digital broadcasting operations and services.
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