Qualcomm Ventures, the corporate venturing arm of mobile semiconductor producer Qualcomm, co-led a $50m funding round for US-based medical assessment technology developer Tyto Care on Tuesday.
The round was co-led with venture capital firm Insight Partners and digital health-focused VC fund Olive Tree Ventures and included undisclosed existing investors. It boosted the overall funding raised by the company to $105m since it was founded in 2012.
Tyto Care’s telehealth platform enables patients to remotely access clinicians who can provide medical diagnosis using a handheld device that can measure a patient’s vital signs and chronic health conditions.
Clinicians can also share data through the platform and book appointments with patients. The company will put the funding into the development of artificial intelligence and machine learning-equipped tools for the platform while expanding across the US, Europe and Asia.
Care provider Cambia Health Solutions led an $11m series B round for Tyto Care in 2015 that included pharmacy chain Walgreens, pharmaceutical producer Shanghai Fosun Pharmaceuticals and existing investors OrbiMed and LionBird.
The company closed its series C round at $33.5m in January 2019, with Walgreens, Cambia Health, Fosun Pharma and LionBird all returning.
Diversified trading group Itochu, healthcare provider Sanford Health, insurer Ping An’s Global Voyager Fund, Shenzhen Capital and OurCrowd subsidiary Qure also took part in the series C round. Tyto Care’s existing backers also include VC fund Teuza.
