H1 2026 funding
Broadly steady against $21.4B in H1 2025
Global market intelligence
Global Digital Health Funding
Track healthtech funding, venture capital, investor activity and exits across the global digital health ecosystem.
Latest data: H1 2026 Updated July 2026
2026 year to date
Funding is concentrating into fewer, larger bets
The headline total changed little from H1 2025. Beneath it, the number of rounds contracted sharply and average deal size rose, signalling a higher bar for companies seeking capital.
H1 2026 funding rounds
Down from 975 in H1 2025
Average deal size
Up from $18.4M in H1 2023
Disclosed M&A value
Across 82 H1 2026 transactions
Source: HealthTech Alpha, July 2026. H1 2026 figures may be revised as later-reported transactions are verified and backfilled.
Quarterly trend
Capital dipped modestly while deal volume halved
Q1 2026 venture funding was 6.6% lower year on year, but deal count fell 48.6%. The divergence is the clearest near-term measure of capital concentration.
Read the Q1 2026 analysisSource: HealthTech Alpha Q1 2026 Performance Review. Venture funding excludes M&A and IPO exits.
Funding by region
North America dominated Q1 2026 venture capital
Global coverage matters: regional funding levels, average deal sizes and market structures differ substantially. Europe remained the second-largest region while Asia-Pacific cooled.
RegionDealsCapitalShare
North America114$5.37B76%
Europe66$1.16B17%
Asia-Pacific30$370M5%
Middle East6$144M2%
Latin America1$18.1M0.4%
Source: HealthTech Alpha, Q1 2026. Excludes M&A and IPO exits. Shares are rounded.
Funding by category
Workflow and care-delivery categories led the quarter
Health Management Solutions, Patient Solutions and Wellness attracted the largest Q1 2026 totals. Category rankings should be read with concentration in mind: a handful of mega-rounds can materially move a cluster.
Largest disclosed transactions
Top digital health rounds in H1 2026
Research Solutions and adjacent AI-biology models dominated the largest disclosed transactions, while enterprise and payer-provider channels featured heavily across the wider list.
| Company | Cluster | Stage | Region | Amount |
|---|---|---|---|---|
| Isomorphic Labs | Research Solutions | Series B | Europe | $2.10B |
| Rznomics | Research Solutions | Strategic | Asia-Pacific | $1.30B |
| Earendil Labs | Research Solutions | Strategic | North America | $787M |
| WHOOP | Wellness | Series G | North America | $575M |
| Alan Health | Health InsurTech | Series G1 | Europe | $455.9M |
| Generate Biomedicines | Research Solutions | IPO | North America | $400M |
| Devoted Health | Health InsurTech | Series F | North America | $366M |
| Verily | Health Management Solutions | Series E | North America | $300M |
| OpenEvidence | Medical Education | Series D | North America | $250M |
| Oviva | Patient Solutions | Series D | Europe | $235M |
Source: HealthTech Alpha, July 2026. The source table excludes M&A to isolate primary growth financings; Generate Biomedicines is identified as an IPO in the underlying analysis.
Investor activity
The active investor base is narrowing
Annual digital health investor participation peaked at 3,968 investors in 2021 and fell to 2,472 in 2025, a 38% decline. Only 3.6% of investors active from 2021 to 2025 participated every year.
The most active disclosed investors in 2025 included General Catalyst with 36 digital health deals, Andreessen Horowitz with 20 and the Gates Foundation with 19.
Explore the investor analysisM&A and exits
Strategic buyers paid more for fewer assets
H1 2026 recorded 82 digital health M&A transactions with $5.15B in disclosed value. H1 2025 recorded 118 transactions with $3.62B in value. Fewer deals generated roughly $1.5B more disclosed value.
Largest disclosed acquisitions
Eucalyptus ($1.11B), PathAI ($1.05B) and Talkspace ($865M) helped drive the increase in disclosed value. Generate Biomedicines was the sole H1 2026 IPO cited in the analysis, at $400M.
Explore the 2026 exits reportHistorical comparison
The funding pipeline has compressed every year since 2022
H1 round count fell 61% between 2022 and 2026. Total capital moved far less, from $28.7B in H1 2022 to $22.6B in H1 2026, reinforcing the shift toward a smaller group of funded companies.
H1 20221,565
H1 20231,353
H1 20241,238
H1 2025975
H1 2026608
Source: HealthTech Alpha, July 2026. H1 periods compared on the latest available normalized series.
Methodology
How to read the funding data
This hub uses HealthTech Alpha's global digital health company, financing, investor and exit records. The page is updated as each new quarterly or annual dataset is validated.
- Define the universe
Companies are classified through a healthcare-specific ontology spanning digital health categories, clusters, business models and technologies.
- Separate transaction types
Venture financing, strategic investments, M&A and IPO exits are separated where the source analysis requires a like-for-like comparison.
- Resolve entities and events
Funding events remain connected to company and investor records to reduce duplicate counting and preserve transaction context.
- Revise with evidence
Private-market disclosures can arrive later. Recent periods are backfilled and normalized, so newer series can supersede preliminary figures in older posts.
Latest reports and analysis
Go deeper into digital health investment trends
Analysis
Global funding held broadly steady at $22.6B — H1 2026 data shows capital concentrating in fewer, larger, more scrutinised bets.
Global digital health funding held steady at $22.6B in H1 2026, but deal count fell 38% to 608. Galen Growth's definitive analysis of the maturity era.
Read more AnalysisGlobal Digital Health Ecosystem Q1 2026 Performance Review
Explore Q1 2026 digital health trends: $7.1B funding, rising M&A, and the shift toward clinical, scalable solutions.
Read more AnalysisDigital Health Investment Trends in H1 2026: 5 New Rules of Healthcare Innovation Venture Capital
Deal volume fell 63% in H1 2026, yet capital held at $16.6B. Galen Growth's H1 2026 Key Trends analysis reveals the 5 new rules reshaping digital health VC.
Read more AnalysisDigital Health Funding 2026: Ventures with Strong Clinical Evidence Raise 3.5x More
Ventures with strong clinical evidence raised 3.5x more in 2026 YTD ($112.9M vs $24.3M/round) — Galen Growth digital health funding analysis.
Read more ReportGlobal Digital Health Funding and Key Trends 2025: Re-priced, Re-proved, Re-focused
In 2025, capital snapped back only for real performers—ventures proving adoption, unit economics, and execution. Health systems tightened the rules, demanding workflow fit and ROI. Evidence, interoperability, and distribution now separate contenders from pretenders as the market reopens, raising the stakes for anyone who can’t deliver measurable value.
Read more AnalysisDigital Health Funding 2025: the year capital stopped believing the hype
Digital health funding hit USD 28.8B in 2025—but concentrated into fewer winners. Europe grew fastest, and buyers demanded ROI, evidence, and interoperability.
Read moreFAQ
Digital health funding questions
How much funding did digital health receive in 2026?
HealthTech Alpha recorded $22.6 billion of global digital health funding in H1 2026 across 608 rounds. The total was broadly steady against H1 2025, while the number of rounds fell sharply. Figures are updated as later disclosures are verified.
What counts as digital health funding?
The funding series tracks disclosed financing connected to companies classified within the HealthTech Alpha digital health ontology. Venture funding is separated from M&A and IPO exits where stated so that unlike transactions are not combined.
Which region receives the most digital health venture capital?
North America received 76% of global venture capital in Q1 2026, with $5.37 billion across 114 deals. Europe followed with $1.16 billion across 66 deals.
Which digital health categories attracted the most capital?
In Q1 2026, Health Management Solutions led with $1.01 billion, followed closely by Patient Solutions at $983 million and Wellness at $790 million. The category ranking can change materially when a small number of mega-rounds close.
Why can Galen Growth figures differ from older articles?
Private-market data is revised as transactions are disclosed, reclassified or backfilled. This hub uses the latest normalized HealthTech Alpha series and identifies the reporting period and transaction scope beside each figure.
Is this investment advice?
No. This page provides market intelligence and research methodology. It does not recommend securities, companies or transactions and should not replace financial, legal or commercial diligence.
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