Over the last seven months, the pandemic starkly illuminated both the tremendous potential and the significant limitations of telehealth today. Tyto Care Ltd. benefited tremendously from the increase in physician visits using its proprietary all-in-one modular device and examination platform as patients tried to avoid exposure to the novel coronavirus. It also recognized the opportunity to improve the quality of remote interactions with artificial intelligence (AI).
Tyto Care Ltd. nabbed $50 million in an oversubscribed round of funding the company will use to expand commercialization of its integrated telehealth platform and remote device with examination tools, which has seen a surge in demand with COVID-19. The new cash nearly doubles the New York-based company's total funding, bringing it to $105 million. Insight Partners, Olive Tree Ventures, and Qualcomm Ventures LLC led the latest round.