Olive Diagnostics Raises $7.3 Million for AI-Powered Urinalysis Device
What you should know:
– Israeli medical device startup Olive Diagnostics, which uses an optical sensor and AI-powered device to perform 100% passive real-time urinalysis, extends seed funding to $7.3 million dollars, having raised an additional $1.5 million from existing investors and private investors.
– Pre-seed stage investors include Israeli health services HMO Maccabi, Mayo Clinic, eHealth Ventures, Amgen Ventures, Israel Innovation Authority, as well as European and US private investors.
Real-time urinalysis device powered by AI
Olive Diagnostics’ flagship product, Olive KG, is the world’s first device based on AI and spectroscopy, which performs high-quality analysis of important patient unit parameters with every void, 100% passive and without any need for additional intervention. accessories. Among other parameters, the device measures red blood cells, proteins, ketones, nitrites, pH, as well as characteristics such as volume, pressure, color and frequency of urination.
Olive KG is an IoMT (Internet of Medical Things) device and can be mounted on any toilet. It uses optics to detect chemical components in urine and generates real-time personal data, secured according to GDPR and HIPPA requirements, which is sent to the cloud and then to the treating doctor. Olive Diagnostics has received EU CE Marking for Olive KG as a medical device. Following approval, Olive received the first orders for the product from two European organizations
“The step of obtaining CE marking validates our vision and our technology and paves the way for us to enter the European market,” said Guy Goldman, CEO of Olive Diagnostics. “Olive KG is already installed in several assisted living facilities in the Netherlands, and we believe that our device will transform medical care into non-invasive prevention, helping patients and healthcare providers detect diseases earlier, even before symptoms appear.”