Telehealth firm secures more cash to expand in China, Japan and US

Telehealth firm Tyto Care has secured additional funding to help with the launch of its technology allowing for remote medical examinations. This latest $9 million funding round is an extension of an oversubscribed Series C round last year and brings the total funds raised to $33.5 million. Strategic investors including Sanford Health, Itochu and Shenzhen Capital Group and affiliates have backed Tyto, which aims to use remote telehealth technology to improve access to healthcare and delivery in the US, Japan, and China. Tyto hopes the technology will be used with patients in densely populated regions of these countries, but also in the rural US, Chinese and Japanese communities with limited access to clinicians and specialists.
The company’s product was approved in the US in 2017 and in Canada in 2018, and Tyto wants to build its presence in state health systems, telehealth companies, large private practices, and employers. Tyto said the funding will enable the company to grow and penetrate new markets beyond North America, including Asian and European markets. Tyto Care’s technology is designed to enable a comprehensive medical exam from any location and includes a hand-held modular tool for examining the heart, lungs, skin, throat, ears, and body temperature. The platform allows sharing of exam data, video exams and visit scheduling, a cloud-based data repository with analytics, and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use.