Avail Medsystems, a US-based telemedicine technology provider that counts internet group Baidu as an investor, received $100m yesterday in a series B round led by investment firm D1 Capital Partners.
Venture capital firm 8VC also participated in the round, alongside undisclosed existing investors, and it increased the company’s overall funding to $125m.
Founded in 2018, Avail has created a system it refers to as Procedural Telemedicine, which enables surgical teams to interact with external experts remotely while conducting medical procedures.
The technology consists of a portable console for the operating theatre and an online platform that manages communication, schedules interactions and updates availability in real time.
The startup’s last funding had been secured in a $15m series A-1 round in March this year, at which point it listed Baidu subsidiary Baidu Ventures, Coatue Management, Lux Capital, Sonder Capital, Playground Global and Refactor Capital as investors.
Daniel Hawkins, chief executive of Avail, said: “For too long, medical information sharing, and collaboration have depended on in-person communication, which is costly and time consuming and increases infection risk.
“Our purpose-built technology removes these barriers, enabling medical collaboration, information sharing, and training independent of location. While our journey began long before covid-19, the pandemic has shone a spotlight on these issues and accelerated the need for remote presence in the operating room.”
