Healthcare analytics company MDI Health scored $20 million in Series A funding, bringing the company’s total funding to $26 million.
Intel Capital led the round, with participation from Maverick Ventures Israel, alongside existing investors Fresh.Fund, Arc Impact, Hanaco Ventures, Jumpspeed Ventures, former Optum senior vice president Richard Montwill, Welltech Ventures and Basad Ventures.
Yoni Greifman, Intel Capital’s investment director, will join MDI’s board of directors.
WHAT IT DOES
Israel-based MDI offers an AI-enabled tool that provides medication risk analysis based on a patient’s medical records with the aim of preventing adverse drug reactions.
The funds will help the company scale its U.S. and Israeli research and development teams.
“MDI Health is driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment,” Avishai Ben-Tovim, CEO and cofounder of MDI Health, said in a statement. “The ongoing support and new funding from our investors equips us with the fuel we need to accelerate that mission.”
Adverse drug reactions are among the leading causes of mortality and morbidity in healthcare, though the numbers of those affected in the U.S. have decreased over the past 25 years.
Another company aimed at decreasing ADRs is Dosis, an AI-powered, cloud-based platform that helps determine a patient’s response to medication and delivers dosage recommendations.