30 January 2018 | News
The strategic investment will help TytoCare realize its ambitions of gaining a foothold in China.
Image credit- mhealthintelligence.com
Medtech company TytoCare has closed a $25 million round of funding to support an expansion into China and build its customer base in the U.S. market. The company that developed connected devices to support telehealth currently has offices in Israel and New York.
The company’s products include TytoHome, which is geared to consumers, TytoPro which is designed for healthcare professionals, and TytoClinic for remote point-of-care locations.
The funding round was led by Chinese insurer PingAn’s Global Voyager Fund, which invests in health tech and fintech startups. The strategic investment will help TytoCare realize its ambitions of gaining a foothold in China. Ping An also has a telemedicine channel called Good Doctor.
Other groups that took part in the funding include a new investor Our Crowd Qure, Israel’s first digital health-focused fund which also has a partnership with Johns Hopkins.
The fund’s investments include medical imaging analysis business Zebra Medical, genetic testing company KolGene, and diabetes management business Dario Health. Established investors in TytoCare include Cambia Health Solutions, Walgreens, Orbimed, Fosun Pharma and LionBird.