Funding round led by Maverick Ventures Israel and other investors, including Esplanade Ventures, iAngels and GiTV
Tel Aviv, June 10, 2020 – Binah.ai, the leading provider of general health and wellness video-based monitoring tools powered by artificial intelligence (AI), today announced the successful capital raise of $13.5 million in a Series B round of financing. The investment funds will serve to accelerate the delivery of Binah.ai’s ambitious roadmap and support the ever-growing global market demand for its vital signs monitoring solution with increased sales and marketing efforts.
The funding round was led by Maverick Ventures Israel, along with other investors including Esplanade Ventures, Sompo International, GiTV and iAngels, who invested in Binah.ai in its seed fundraising series.
Founded in 2016 by industry global experts David Maman, Konstantin Gedalin, Ph.D, 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 award-winning solution allows for measuring vital signs conveniently with a device more than 5 billion people around the world already have – a smartphone camera.
“We are proud of the continuous proof of trust that our previous and current investors are offering us,” said David Maman, CEO and co-founder of Binah.ai. “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.”
“We are thrilled to have been able to lead the round and to join Binah.ai’s board of directors” said Michel Abadi, Managing Partner at Maverick Ventures Israel “It is obvious now more than ever that people’s health and vitality is of utmost importance and we are fortunate to have the technology to help in this regard through our global investors base and network which has already proven to be a substantial asset in the company’s product development and growth”.
Using a unique mix of signal processing and artificial intelligence technologies, combined with a proprietary mathematical framework, Binah.ai allows users to extract vital signs measurements with medical-grade accuracy in under 2 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.
“Binah.ai’s technology is one of the most revolutionary advances in the delivery of medical services I have ever seen in my many years of medical practice. It is like having the Tricorder from Star Trek in your hands today, bringing the future of telemedicine and digital health to benefit millions of patients now. Particularly in the face of the global pandemic – this will save lives!” said Dr. Sheldon Elman, Co-Founder and Chairman at Esplanade Ventures.
“We’re excited to participate in another round of funding for Binah.ai,” said Shelly Hod Moyal, founding partner at iAngels. “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 it’s 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.”
Binah.ai’s award-winning technology delivers on the company’s vision and mission to allow for basic and universally accessible health and wellness services for everyone, anywhere. We are helping to define and shape the future of digital healthcare and wellness by providing a video-based, easy-to-use vital signs monitoring tool, delivered with medical-grade accuracy. Binah.ai’s proven app has countless use cases that span fields including telemedicine, remote patient monitoring, primary care, personal and corporate wellness, preventive medicine, virtual trials, nursing homes, insurance, in-car wellness, and many more. Our technology is built by our unique team of mathematicians, physicists, and biotechnology scientists and delivered directly to the doorstep of future-focused companies. These modern, innovative companies understand that the latest technologies and connected services are the roadmap to personalized, streamlined, and universally accessible health services that empower both organizations, as well as personal users.
Binah.ai was recently awarded the CES 2020 Innovation Award, the NTT Data Grand Champion at the 10th Open Innovation International Contest 2020, and was recognized as a Cool Vendor in Gartner’s AI Core Technologies 2019 report. For more information on Binah.ai, please visit www.binah.ai.