Israel-based medical device company Tyto Care announced on Tuesday that they have raised $11 million in their most recent round of funding.
The company has developed a mobile platform that allows parents to perform medical checks at home. Doctors can then receive the results in real-time, providing advice and care. This could mean the end of late night visits to the hospital for children and more sleep for parents.
A major American strategic investment firm was reported to have led the round, with existing investor Israeli Teuza Venture Capital Fund also participating in this round.
No more late night hospital visits
At some point, everyone has found themself in this situation. Your child, nephew, niece or partner suddenly comes down with something terrible in the middle of the night. Most of the time it is your child who has a high fever and like a concerned parent, you are faced with the decision of whether to take the child to the emergency room, where they risk being exposed to all of the diseases floating around there. It also likely means waiting until sunrise at the earliest to be seen by a doctor. With Tyto Care’s new solution, parents can now receive answers without having to travel to the hospital and know if their child has a standard ear infection or something more serious, for example.
The device that Tyto Care has developed is able to carry out a wide range of medical checks including of ears, throat, lungs, and heart, one’s temperature, and more by essentially bringing the digital doctor into your home. Users receive instructions on how to carry out the tests by speaking with a doctor in real-time. They can also do the checks independently and send the results to the doctor. While the device is still waiting for final approval from the US Food and Drug Administration, which is expected to be granted within the year, the price for consumers is expected to be around $220.
This is Tyto’s third round of funding, following their previous rounds in 2012 where they raised $1.5 million and in 2014 with another $6 million that was led by Lionbird during their Series A. The company is believed to have raised $18.5 million in total funding to date.
Tyto Care was founded by Dedi Gilad and Ofer Tzadik. Gilad has been working in the field for 18 years and previously founded and served as the CEO of MDG Medical and was the VP of Development at WorkplaceIQ as well as at the Ament Group. Tzadik also served at MDG as the VP of Operations.
Gabriel Avner translated the original article.
Featured Image Credit: Tyto Care