In the age of Covid, the medtech industry has seen vast innovation as medical professions find new ways to treat and assess patients in a socially-distanced manor. AvodahMed is one such company creating solutions for these trying times and it’s parent company Adovah recently secured $7 million in a seed funding round.
Launched in November of 2020, Southlake-based AdovahMed leverages artificial intelligence and digital solutions to offer video conferencing between doctors and patients as well as real-time language services for patients whose first tongue might not be English. On the AI front, doctors can use Avodah’s platform to input patient data in a secure manner. The data is then processed and provides doctors with helpful insights.
Avodah also manufactures sensors that can take patients’ vitals. According to the company’s website, its sensors can collect data on heart rate, body temperature, blood pressure, pulse oxygen and weight.
“We’re excited to partner with our investors as we accelerate our growth strategy to improve the lives of patients and their healthcare providers,” Shawn Ring, Avodah CEO, said in a prepared statement. “This successful financing round, which was oversubscribed twice, demonstrates the confidence we have achieved from our customers and investors. Our digital healthcare platform’s enormous potential equips providers with intelligent tools needed to compete and meet consumer demand for greater choice and convenience.”
No information was provided about how Avodah plans to use its new capital besides that the company will expand its digital healthcare platform.
“At a time of severe healthcare labor shortages, we’re committed to optimizing practice operations to influence better outcomes through increased efficiencies, reimbursements and patient-provider engagement and collaboration,” Ring said. “Our solutions are designed to support the long-term and sustainable practice needs of the physician and, importantly, the care needs of their distinctive patient populations who might be challenged with health disparities.”
Although AvodahMed is a newcomer to the medtech scene, it has been heralded as an up-and-coming startup by MedTech Innovator, a medical technology accelerator. Earlier this year, the local startup was listed sixth in the annual MedTech Innovator’s 2021 Top 50 Showcase.