Funding round
Rakuten Medical Series E
Rakuten Medical, which works in precision photoimmunotherapy development in San Diego, raised $119M in a Series E round announced on 6 Mar 2024. 5 firms took part, 3 of them already investors. It is Rakuten Medical's third venture round on record; the one before was a Series D in Aug 2021.
$119M
Amount raised
Not disclosed
Post-money valuation
5
Investors
no lead named
Valuation
What this round says about the price
Rakuten Medical did not disclose a valuation in this round. It came 31 months after Rakuten Medical's Series D. It is 25% of the $485M Rakuten Medical has raised in the venture rounds on record. Rakuten Medical raised again 22 months later: a Series F round of $100M in Jan 2026.
Investors
Who put money in
5 firms took part; no lead investor was named.
Investors
- backs 13 venture-backed companies existing investor
- Mizuho Bank, Ltd. new investor
- Dai-ichi Life Insurance Company, Limited new investor
- backs 45 venture-backed companies existing investor
- Rakuten Group, Inc. existing investor
Joined the board: Mazen Darwazah (Hikma Pharmaceuticals PLC).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series E rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $100M, and this round was 1.2 times the median. The closest in time, other companies' Series E rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 9 Feb 2024 | $120M | not disclosed | Viking Global and Cormorant Asset Management |
| Pharmaceutical Products | 21 Dec 2023 | $101M | $251M | Sarissa Capital |
| Pharmaceutical Products | 12 Jun 2024 | $100M | not disclosed | Alerce Medical Technology Partners |
| Pharmaceutical Products | 27 Apr 2023 | $53M | not disclosed | MPM BioImpact |
| Pharmaceutical Products | 25 Apr 2023 | $194K | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Rakuten Medical raise in its Series E round?
Rakuten Medical raised $119M in its Series E round, announced in Mar 2024.
Which investors took part in Rakuten Medical's Series E round?
Hikma Ventures, Mizuho Bank, Ltd., Dai-ichi Life Insurance Company, Limited, SBI Holdings and Rakuten Group, Inc..
What was Rakuten Medical's valuation at the Series E round?
It was not disclosed.
How does it compare with other Series E rounds in Pharmaceutical Products?
5 Series E rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $100M, and this round was 1.2 times the median.
Did Rakuten Medical raise again after this round?
Yes: a Series F round in Jan 2026 of $100M.