Investment Update : West Fountain Parallel Fund invested in Series C-1 of Israeli Remote Health Company Tyto Care
In November 2018, West fountain Global Fund LP ("West fountain") and Shenzhen Capital Group Company (“SCGC") completed C-1 round investment in Israeli telemedicine company TytoCare, Ltd. ("TytoCare"). C-1 round financing was led by Ping An Global Voyager Fund, and it will help promote TytoCare products in Eurasia, especially in China.
TytoCare, Ltd. is the world's leading provider of telemedicine devices and service platforms, founded in Israel in January 2011, and its shareholders include OrbiMed, the world's most prominent healthcare-focused venture capital firm, Walgreens, the world's largest pharmaceutical retail and wholesale company, Cambia Health, the leading non-profit integrated healthcare provider in the United States, Sanford Health, the largest rural healthcare provider in the United States, and Ping An, China's largest diversified financial group, Fosun Pharma, China's leading healthcare industry group, and Itochu Corporation, one of Japan's oldest and largest conglomerates.
The company's main products are small multi-functional modular telemedicine hardware equipment and its associated telemedicine service platform. A single device can cover a variety of primary medical (especially common diseases) examination and diagnosis tasks, such as body temperature measurement, otorhinolaryngology image examination, cardiopulmonary and intestinal auscultation, skin examination and so on. It has two diagnosis modes: offline examination of upload data and online real-time doctor-patient interaction. It connects patients, doctors and hospitals through the telemedicine network constructed by hardware and cloud platform, and it has two product lines: home version and professional version to adapt to different application scenarios. The collected patient data can be stored in the cloud platform for subsequent big data mining and analysis, providing personalized and community-based health analysis and early warning, as well as automatic diagnosis based on big data. It is a true primary telemedicine hardware and software integration solution.
(explanation page on the official website of TytoCare)
"New financing not only confirms the value of telemedicine in the digital age, but also brings our unique solutions to the world and provide the best remote on-demand services for consumers around the world," said Mr. Dedi Gilad, CEO and co-founder of TytoCare.
West Fountain Parallel Fund firmly believes in the future development of TytoCare. TytoCare will continue to develop the Eurasian market and build a new generation of telemedicine platform.