Israeli start-up using smartphones to monitor health secures $13.5m.
The investment efforts were led by Maverick Ventures Israel - additional investors included Esplanade Ventures, Sompo International, GiTV and iAngels.
By ZACHARY KEYSERAn illustration of Binah.ai's smartphone medical technology(photo credit: BINAH.AI)
Tel Aviv start-up Binah.ai, a provider in artificial intelligence generated general health and wellness video-based monitoring systems, secured $13.5 million during a Series B funding round for their innovative technology, the company announced WednesdayThe investment efforts were led by Maverick Ventures Israel - additional investors included Esplanade Ventures, Sompo International, GiTV and iAngels, who invested in Binah.ai during their seed funding round.Binah.ai intends to use the funding secured during the Series B round towards its next phase of product development, and additionally to begin boosting global marketing and sales efforts. Binah.ai is still striving for FDA approval in the United States, CE certification in Europe and PDMA approval in Japan - which they hope to secure within the near future.“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.”Leveraging artificial intelligence, signal processing and machine vision capabilities, the company developed technology that can transform smart devices into a vital signs monitoring tool, late last year.The company can accomplish this by analyzing video of a person’s face captured by their smartphone camera. The company’s app monitors an individual’s heart rate within seven seconds, oxygen saturation within 10 seconds, respiration rate within 30 seconds, and heart rate variability within 45 seconds. Within 90 seconds, the app can also assess mental stress levels.In 2019, Binah.ai was in the process of finalizing its ability to monitor hemoglobin levels, and is hoping to soon unveil the capability to measure blood pressure and blood glucose levels.The technology, as explained by the company, relies on the simple and long-established optical technique of photoplethysmography, often used in pulse oximeters or “finger clips” to measure blood flow. Rather than shining a light beam into body tissue, the company’s technology analyzes the reflection of light that returns to the camera from the cheeks.“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.The decision to apply the company’s capabilities to the digital health sector followed a partnership between Binah.ai and Japanese automotive manufacturing giant Denso to develop technology to monitor the well-being of drivers, and subsequently the occupants of autonomous vehicles.
