Israeli AI health and wellness video-based monitoring tools developer Binah.ai today announced the raising of a $13.5 million Series B financing round led by Maverick Ventures Israel, with Esplanade Ventures, Sompo International, GiTV and previous investor iAngels.
The investment funds be used to speed up Binah.ai’s ambitious strategy and growing global market demand for its vital signs monitoring solution with increased sales and marketing efforts.
Founded in 2016 by CEO David Maman, Konstantin Gedalin, and Michael Markzon, Binah.ai’s mission is to allow anyone, anywhere to access basic healthcare services and be in control of their own health and wellbeing. Binah.ai’s solution allows for measuring vital signs conveniently with a smartphone camera.
Maman said, "We are poised more than ever to fulfill our vision and mission as we look forward to releasing more capabilities than ever before achieved - reinforcing our investors’ and customers' trust."
With signal processing and AI technologies, combined with a proprietary mathematical framework, Binah.ai lets users extract vital signs measurements with medical-grade accuracy in under two minutes, including: heart rate, heart rate variability, oxygen saturation, respiration rate and soon, blood pressure. Vitals that Binah.ai expects to add to its monitoring capabilities include hemoglobin, temperature and others, aiming to turn its app into the go-to health monitoring tool. iAngels founding partner Shelly Hod Moyal said, "The company is a true disruptor to the digital health market, an industry expected to reach over $509 billion by 2025. Binah.ai has proven that its AI-powered signal processing technology can help save lives and allow governments and health institutions to provide better healthcare. Binah.ai’s technology is more relevant now than ever before as the world faces the Covid-19 pandemic and requires a scalable and cost-effective health monitoring solution."
Published by Globes, Israel business news - en.globes.co.il - on June 10, 2020
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