TytoCare, an Israeli-based telehealth company, today announced it has extended its Series C funding to add key strategic investors, bringing the total funds raised to $33.5M. This is an extension of the oversubscribed 2018 round led by Ping An Global Voyager Fund with new investors Shenzhen Capital Group of China, Japan’s Itochu, and Sanford Health of the US.
Founded in 2012, TytoCare has three telehealth products: TytoHome™ for consumers, TytoPro™ for professionals, and TytoClinic™ for remote point-of-care locations. Tyto Care’s advanced cloud telehealth platform and handheld device are designed to replicate a face-to-face clinician visit and include a hand-held modular examination tool for examining the heart, lungs, skin, throat, ears and body temperature; a complete telehealth platform for sharing exam data, conducting live video exams and scheduling visits; a cloud-based data repository with analytics; and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use. Its accompanying EHR integrated cloud platform will enable patients, physicians, and healthcare organizations to seamlessly and securely share the data the TytoCare device collects.
The new funding and strategic partnerships will enable Tyto to gain further momentum in the US and to expand its reach to the Asian market, making high-quality healthcare accessible to the aging and rural communities of China and Japan from the comfort of home. Enabling remote examinations and telehealth visits is also crucial due to a large number of rural US, Chinese and Japanese communities with limited access to clinicians and specialists.
Following its FDA clearance, the launch of its product in the United States in 2017 and its CE Mark and Health Canada approval in 2018, Tyto Care has gained significant traction with major health systems, telehealth companies, large private practices, and employers. The additional funding will further enable Tyto’s growth initiatives and global expansion plans as the company continue to expand with leading US partners and penetrate new markets beyond North America, including Asian and European markets.
“These strategic partnerships will enable us to gain further momentum and accelerate our growth, deepening our foothold in the US and other new strategic markets,” said Dedi Gilad, CEO, and Co-Founder of Tyto Care. “This additional funding is a testament to the value of telehealth in the digital age, further enabling our unique solution to bring the best of remote, on-demand virtual care to consumers around the world.”
