Israeli Telehealth Startup Tyto Care Raises $21 Million

Digital stethoscope startup Tyto Care Ltd. raised $21 million in an investment round led by an undisclosed Chinese investor, according to a Sunday statement filed to the Tel Aviv Stock Exchange by venture capital fund Teuza - a Fairchild Technology Venture Ltd., which holds 5% of Tyto Care’s stocks.

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One person familiar with the details of the investment who spoke to Calcalist Sunday on conditions of anonymity named other participators in the round, including Chinese investment company Fosun International Ltd., Herzliya-based healthcare investment firm Orbimed Israel Partners Ltd., Tel Aviv-based venture capital firm LionBird (Ventures) Ltd., and second-largest U.S. pharmacy chain Walgreen Co., all previous investors in Tyto Care.

Patient in hospital (illustration). Photo: Shutterstock

Founded in 2011 and based in Netanya, a coastal town in central Israel, Tyto Care develops a mobile system for remote medical testing and diagnosis. The system allows for accurate long-distance interaction between doctor and patient and online diagnosis based on real-time tests conducted by a digital stethoscope. Tyto Care’s system is capable, among other things, of measuring a patient’s temperature and examining their throat, ears, heart, and lungs.

In 2016, Tyto Care’s system was granted FDA clearance and was launched in the U.S. The company has raised more than $41 million in equity to date.

Another Israel-based telehealth startup, GlucoMe Ltd., recently signed an exclusive strategic agreement with Apollo Sugar, the nationwide diabetes clinic chain of India-based Apollo Hospitals Enterprise Ltd.