Israeli startup, Binah.ai software extracts vital-sign measurements from your last selfie. The company announced on Wednesday the round-up of its Series B funding, which totaled at $13.5 million, which the company reported will go towards technology development, sales, and marketing. The investment was primarily led by Maverik Ventures Capital, among others, who took part were Esplanade Ventures, Sompo International, GiTV, and iAngels who also invested in the Seed funding. The Series B round was based on a total evaluation of $45 million.
Measuring vital-signs remotely during COVID-19 (and after)
Binah.ai has developed a wide range of market adaptable AI-supported apps, from wellness and digital health to a variety of different insurances. One of the company’s products is an immediate medical diagnosis app; assisted by AI and facial recognition software, the app allows for easy and precise measurement of vital-signs straight off a picture from your phone, tablet, or laptop.
The startup’s inventive technology enables users to have access to basic health care, as the app can measure pulse, blood-oxygen levels, heart rate, and HRV within less than two minutes and with extremely accurate results. For those out there who think this is too good to be true, in a talk with Geektime Binah.ai CEO, David Maman explained that according to testing, the system has an accuracy rate of between 96%-98% compared to standard tools, because you know, nobody is perfect. The people at Binah.ai are hard at work adding other vital measurements to their product, like temperature, hemoglobin levels, and more.
How do your algorithms collect the measurements from just a photo?
“The technology behind the solution is based on r-PPG (remote photoplethysmography) retrieving from a persons’ facial features, by analyzing the light reflection from someone’s face to the camera. Picture quality and lighting fixtures do not affect the quality and accuracy of measurements.”
During the COVID-19 pandemic, the company’s technology was implemented in a Canadian hospital in Montreal. Under the current landscape, this use of technology comes to be an effective solution allowing medical personnel to monitor patients at home, alleviating stress from hospitals and medical centers, while also reducing contact between medical staff and infected patients, as yet another safe security measure to deal with those infected with the coronavirus.
Maman, who founded the company, added: “The COVID-19 crisis proved to the health industry a desperate need to enhance the use of new innovative technologies to help face extreme situations as well as day-to-day activities. We foresee many developments brought by the integration of AI solutions in the medical industry, insurance industry, and digital medical platforms. As we stand on the doorstep of unveiling our most advanced capabilities than ever before, we are proud to strengthen our trust with our customers as well as the investors who have been supportive throughout the process.”
Binah.ai was founded in 2016, by Maman, Konstantin Gedalin, and Michael Markzon. The company has dozens of employees spread throughout their offices in Tel Aviv, U.S., Europe, and Japan. Up to date, the company has raised $17.5 million. In January, the company announced a $1 million investment and partnership with Japanese insurance giant, Sompo International.