snap40, an AI-enabled healthcare company, announced it has secured $8 million in seed financing, led by ADV, with participation from MMC Ventures. To date the company has raised $10 million. snap40 monitors the human body in real-time using its wearable device, with accuracy equivalent to ICU monitoring. Using this real-time data, the company’s proprietary algorithms identify those whose health is at risk and proactively bring healthcare to them. Initially, snap40 is deploying this with top healthcare providers in the U.K. and the U.S.
The investment will accelerate snap40’s expansion into the U.S., where it has clinical trials and pilots with leading hospitals and institutions looking to identify acutely and chronically deteriorating patients earlier, in order to reduce risk and cost while improving patient health.
“With our society growing older and larger, in the coming years we will see AI fundamentally reshape how healthcare is delivered,” David Kelnar, partner and head of research at MMC Ventures said. “snap40 is an excellent example of how AI is moving ‘beyond the hype’ – the company’s robust application of AI is solving an important real-world problem, augmenting the efforts of healthcare staff and helping save lives. We’re excited to support Chris, Stewart and the rest of the team as the business expands and brings their technology to new markets.”