Copenhagen-based health tech start-up Teton.ai has raised $5.3 million to expand its engineering and commercial teams to help roll out the product in Denmark and internationally.
Teton's AI solution will give nurses the tools to monitor patients in real-time and help them to stay on top of paperwork. The AI assistant acts as an extra pair of eyes and ears as smart cameras scan the wards for updates and patient activity which is then fed back into a web app to update the nurses of any changes.
The funding round was led by Plural VC and includes several angel investors, including Finn Murphy, formerly at Frontline Ventures.
“Growing demand from an ageing population and shortage of supply of trained staff are the two big issues creating challenges in healthcare systems around the world. In line with Plural’s ambition to solve hard problems, we see huge potential for Teton.ai as a European-founded company building an AI-assisted technology platform to support nurses to provide better patient care. Teton’s mission is vital and we are thrilled to be working closely with Mikkel, Esben and the team," says Taavet Hinrikus, who led the investment round at Plural Platform.
Teton aims to use technology to eliminate unnecessary and sometimes false alarms by providing real-time alerts for nurses when a patient’s behaviour requires direct or critical care.
“Countries across the world are facing problems with staff shortages in both hospitals and the wider care sector. This problem is only getting bigger with pressures mounting to provide high-quality care to a growing ageing population. Our AI solution, which has privacy integrated into the design, gives nurses more time to take care of patients and residents, without burdening their workload. We’re excited about the impact this will have globally and look forward to working with the Plural team to help us scale up and expand in the next few years," says Mikkel Wad Thorsen, co-founder and CEO of Teton.ai.
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