US-based medical examination technology developer Tyto Care secured an additional $9m on Wednesday from investors including hospital operator Sanford Health and conglomerate Itochu to boost its series C round to $33.5m.
The extension, which also featured Shenzhen Capital, adds to a first tranche in February 2018 that was led by insurance group Ping An’s Global Voyager Fund.
Pharmacy chain Walgreens, healthcare provider Cambia Health Solutions and drug developer Shanghai Fosun Pharmaceuticals also took part in the first close, as did venture capital firm LionBird Venture Capital and Qure, a fund owned by crowdfunding platform OurCrowd.
Tyto has developed a handheld device that enables physicians to remotely examine a patients organs and body temperature, allowing medical examinations to be conducted through video chats, and provides accompanying software for data analytics and appointment scheduling.
The company will use the proceeds from the series C round to expand in the US and accelerate its global growth plans by entering new markets in Asia and Europe.
Dedi Gilad, co-founder and chief executive of Tyto Care, said: “These strategic partnerships will enable us to gain further momentum and accelerate our growth, deepening our foothold in the US and other new strategic markets.”
Cambia Health Solutions led the company’s $11m series B round in 2015, investing with Walgreens, Fosun Pharma, OrbiMed and LionBird.
Lionbird and OrbiMed vehicle OrbiMed Israel Partners had co-led a series A round for Tyto in 2014 that was reported by Fierce Medical Devices as being $4m in size, and by Geektime as $6m. Tyto had previously raised $1.5m in a 2012 seed round and counts VC fund Teuza as an early investor.