Lucia Huang, Stanford GSB MBA ’20, is co-founder of Osmind, one of 26 startups founded or co-founded by women. Courtesy photo
Renalytix AI, 2018
MBA Founder: James McCullough, Columbia Business School
Total Raised: $106.7 million
Latest Funding Round: $23 million Feb 2023
RenalytixAI develops artificial intelligence-enabled diagnostic tools for kidney disease, one of the most common and costly chronic medical conditions around the world. Its platform draws from large electronic health records, predictive blood-based biomarkers, and other genomic information for analysis by learning computer algorithms.
Revelle Aesthetics, 2018
MBA Founder: Earl Bright, Columbia Business School
Total Raised: $105 million
Latest Funding Round: $30 million Venture Jan 2023
Based in Silicon Valley, this FemTech company creates medical devices and treatments to improve women’s aesthetic ailments. Its first device, Avéli®, has been FDA cleared to treat cellulite and in November received its first international clearance in Australia.
The private company is backed by venture capital firms New Enterprise Associates and KCK Medtech.
Bright is also co-founder of the Alliance for U.S. Startups & Inventors for Jobs.
“One of the exciting trends we are seeing is the consumerization of healthcare. Consumers today are much more knowledgeable about their treatment options and companies are designing products that fit their needs and wants – and can potentially even be purchased by the consumer directly,” Bright told FogartyInnovation.org in this 2019 Q&A.
Osmind, 2020
MBA Founder: Lucia Huang, Stanford Graduate School of Business
Total Raised: $57.2 million
Latest Funding Round: $40M Series B May 2022
Osmind is an electronic health record software for mental health providers aiding in the administration, monitoring, and analyzing innovative psychiatric medications and treatments.
Huang, a Stanford Graduate School of Business Class of 2020 MBA, met her cofounder, Stanford Medicine candidate Jimmy Qian, in a class mixed with students from the university’s acclaimed business, medicine and engineering schools. They shared their mutual dismay at the lack of innovation in mental health, despite the fact that depression is the No. 1 cause of disability around the world. So they decided to work on the problem.
After studying chemistry at Yale University, Huang wanted to apply her STEM background to improve lives. She realized the way to make an impact at scale was through business. Her company works with scientists to gather and analyze real-world data to improve psychiatric care.
“What makes us unique is that Osmind is a public benefit corporation,” Huang told Poets&Quants last year. “Our commitment as a public benefit corporation is to value the voices of our physician, patient, and researcher stakeholders and to be transparent about supporting advances in the treatment of mental health conditions.”
Gravitiq, 2021
MBA Founder: Sachin Srivastava, London Business School
Total Raised: $55 million
Latest Funding Round: $55M Seed Round
Gravitiq is a healthcare brand aggregator that acquires and scales healthcare brands on Amazon. It is unique among e-commerce aggregators in that two of its cofounders have medical experience and previously founded a highly successful Amazon e-commerce healthcare niches.
Srivastava, MBA ‘22, previously worked in M&A and private equity transactions at Latham & Watkins. He co-founded Gravitiq with his brother Dr. Saurabh Srivastava and Dr. Adam Gunasekara. Prestigious venture capital firms CoVenture and Crossbeam Venture Partners led its seed round.
“We saw an opportunity in the market where, because e-commerce is still relatively new compared to traditional retail, there is a lot of opportunity for someone with the right medical background and the right e-commerce background to add a lot of value to the companies and brands that are selling online,” Srivastava told LBS in 2021.
Srivastava gives much credit to his alma mater in the genesis of his company. His LBS experience helped him raise venture capital financing, generate ideas, and connect him with investors in the LBS network. He also recruited LBS talent to work at the company.
NEXT PAGE: MBA Healthcare Startups Better Life Partners, Hyro, Topography Health, and Pipo Saude
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