The market is seemingly slowing down, but both companies see other reasons to be optimistic about digital health investment.
The cohort was selected by a pool of institutions, providers, and payors looking to form partnerships and solve challenges with digital health startups.
Put into dollars, that's $8B raised in 556 deals during the first 9 months of 2018, compared to $5.5B in 586 deals during the same period last year.
The program is designed to rapidly pilot technologies of NYC-based startups to advance healthcare, create jobs and strengthen City's health tech sector.
The digital health market is expected to surpass 2017 deal counts, with an increase in the percentage of mid- and late-stage deals.
The Q3 2018 was the biggest quarter yet, with $3.3B invested across 93 deals during the period.
The new VC arm builds on the company's existing venture activity, including collaboration with five venture capital partners.
The following companies have been accepted to the program: Agathos, Asserta Health, CareAdvisors, ImageMover, iQuartic, Mymee and Sana.
Digital health companies in the United States raised $4.9 billion in 2017 with the remaining $2.3 billion coming from other countries.
It has found 2017 to be the record-smashing year for the industry, with the highest amount of venture funding and the most mega deals ($100M+) to date.