Israeli Telehealth Company TytoCare Raises $25M
January 30, 2018 | Israeli telehealth startup TytoCare, a company with breakthrough technology for conducting remote medical examinations and telehealth services, announced on Monday that it has raised $25 million in its most recent funding round. The round was led by Ping An Global Voyager Fund and including both new and existing investors. Other investors include Cambia Health Solutions, Walgreens, Orbimed, Fosun Pharma and LionBird. The growth round also includes new participants like Israel’s first exclusive digital health fund Qure, established with Johns Hopkins University. TytoCare has the option the extend the round to $28 million in the next few months. The company will use the additional funding to continue furthering its expansion in the US market. After its clearance with the FDA in late 2016 and the launch of its products in early 2017, TytoCare has made a name for itself among major US health systems. They will use the funding to enhance their products and meet the demand for their products outside the US. TytoCare and the Ping An group will form a strategic partnership to implement Tyto Care into the Chinese market. Founded in 2012, Tyto Care specializes in telehealth, creating products with breakthrough technology that provide remote home examination and diagnosis solutions. Their offerings include TytoHome for patients, TytoPro for professionals, and TytoClinic for remote point-of-care testing. They also have a complete telehealth platform, analytics, built-in guidance technology, and machine learning algorithms. At the recent Digital Health IL event, TytoCare COO Ofer Tzadik showed the audience how, using an electronic Tyto stethoscope, for example, a patient may record his/her heart rate, send it to a health organization through a secure Amazon cloud service, and receive feedback from a physician.