AI-powered personalised medication platform MDI Health has raised $20 million (£16.5 million) in Series A funding.
The round was led by Intel Capital with participation from Maverick Ventures Israel and existing investors Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures and former SVP of Optum, Richard Montwill.
The funding — which brings the company’s total financing to $26 million — will allow the company to scale its US and Israeli R&D teams to drive product development.
Intel Capital Investment Director Yoni Greifman will join MDI Health’s board of directors as part of the fundraise.
Avishai Ben-Tovim, CEO and co-founder of MDI Health, said:
“MDI Health is driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment.
“The ongoing support and new funding from our investors equips us with the fuel we need to accelerate that mission.”
MDI Health is equipping clinicians with the technology they need to prevent adverse drug reactions, which are the fourth leading cause of death in the US, resulting in over 270,000 deaths every year.
MDI Health’s AI medication management platform is autonomous and hyper-personalised.
The technology analyses thousands of influencing factors to identify medication-related risks – and provides a recommendation to mitigate such risks – in a matter of minutes.
Roi Bar-Kat, Intel Capital Managing Director, Israel Country Manager, said:
“With more patients and less staff, clinicians’ mission to deliver exceptional care has limitations. Clinicians are forced to make a judgment call when treating patients, leading to unnecessary medications, clinic visits, hospitalisations, and readmissions.
“MDI Health’s technology is a game changer for health plans and value-based providers, helping them deliver ‘whole’ person medication management, at scale – saving costs, and most importantly saving patients’ lives.”
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