The ongoing shift towards remote medicine, the global shortage of healthcare workers and rising treatment costs are an open call for affordable and low-cost remote monitoring tools for patients and clinicians.
Paying heed to the call, Estonia-based MX Labs has raised $2 million in a funding round to develop the next generation of health and wellness diagnostic technology, powered by artificial intelligence. The round was led by Finland-based Superhero Capital with participation from existing investors, including SMOK Ventures and Verge HealthTech Fund.
Shen.AI, the company's proprietary technology uses a novel method that requires only a smartphone or a computer with a camera to measure heart rate, heart rate variability, and blood pressure through a one-minute scan of the face. Soon, more vital signs, including mental health and behavioural markers will be available.
With the fresh capital, it will expand Shen.AI's cardiovascular and mental health capabilities and offer them to its first customers later this year.
Talking about the potential of telemedicine, Remi Kościelny, co-founder and CEO, MX Labs said: “Our goal is to provide people with easy-to-use tools for prevention and self-care, accessible through the devices they own and use. Going further, we want to increase the potential of telemedicine by providing a medically certified diagnostic solution.”
Talking about its bespoke computer vision algorithms and deep-learning architecture, Przemek Jaworski, co-founder and CTO, MX Labs added: “In addition to our current Shen.AI features, which are primarily focused on cardiovascular health, we plan to add new functionality such as emotional state detection, providing early diagnosis of mental health conditions and disorders. We also plan to invest in new high quality data acquisition, external collaborations with scientific institutions and medical certification.”
Shen.AI is already available within Heart Monitor, a mobile app for monitoring cardiovascular health and hypertension detection available on Apple App Store and Google Play and coming soon on CheckBP.com. Heart Monitor has been downloaded by over eighty thousand people around the world.