[Techtaffy Newsdesk]

GoBalto has closed a $12 million round of venture financing, led by EDBI, the global investment arm of Singapore’s Economic Development Board, with participation from new investor Qualcomm Life Fund, a $100 million investment allocation that is managed by Qualcomm Ventures. This round also includes existing investors Aberdare Ventures, West Health Investment Fund, and founding CEO Jae Chung . The new round of funding brings goBalto’s total financing to $21 million.

The company says it plans to use the funds to develop new product capabilities.

GoBalto develops next-generation, cloud-based solutions that simplify how clinical trials are conducted in the pharmaceutical, biotechnology, and medical device industries.