AI health information service provider Your.MD has raised $10 million in its latest round of funding led by Orkla Ventures. Smedvig Capital AS and other existing shareholders too participated in the round.
Orkla supplies branded consumer goods to the health, pharmacy, grocery, confectionery, specialized retail and bakery sectors in the Nordics, Baltics and selected markets in Central Europe.
The London headquartered health tech startup will use the funds to consolidate its position at the forefront of Artificial Intelligence (AI) development in the digital health sector. The agreement will also enable expansion of its OneStop Health platform – a global, AI-powered marketplace of health service providers and products.
Your.MD hopes to multiply its commercial partnerships to offer users over 100 health services by the end of 2017.
Matteo Berlucchi, CEO, Your.MD, “This invaluable partnership with Orkla enables us to build upon the immense strides we’ve made over the last two years to offer mobile phone users access to personal and trusted pre-primary care guidance, all across the world. This investment is going to support the next phase of development of our vision: providing the best health information everyone needs, for free.”
Espen Wiik, Senior Vice President of Orkla Ventures added, “Orkla is committed to promoting innovation and creativity and Your.MD aligns with this perfectly. By employing the most advanced software including neural networks, machine learning and natural language processing, combined with the knowledge of real doctors, the platform provides users with pre-primary care information of the highest accuracy and quality. We’re excited to be a part of Your.MD’s future.”
Your.MD claims to have achieved 2.1 million downloads to-date for its iOS and Android app, since its launch in November 2015. The AI-based pre-primary care service is also available on the web and messenger platforms such as Facebook Messenger, Kik, Skype, Slack and Telegram.