Sweetch, a digital therapeutics startup that has developed a hyper-personalized engagement platform for chronic conditions, has completed a $20 million Series A round of funding, the company announced Monday.
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The funding round was led by Entrée Capital. It was joined by Tal Capital, Netherlands-based impact investor Noaber, Brazil-based Kortex Ventures, and InsurTech VC FinTLV Ventures, as well as existing investors Philips, OurCrowd and Qure Ventures.
Funds raised will be directed toward continued global expansion and further developing its artificial intelligence (AI) and emotional intelligence (EI) behavioral science technology.
"Ninety percent of health care costs in the US are attributable to chronic diseases, which afflict 50% of its population. We need a scalable solution to provide better care at lower costs. This seemingly contradictory statement can be achieved through technology like Sweetch" said Dr. Doron Dinstein, Venture Partner at Entrée Capital.
Sweetch CEO Yoni Nevo said, "We believe that every person with chronic conditions should have a trusted voice empowering them to reach their micro-goals every step of the way throughout their unique health journey. The rapidly evolving remote health era is missing a critical component: effective continuous relationships between pharmaceutical companies, device manufacturers, payers, healthcare providers and each of their individual patients. Sweetch provides this missing critical capability at scale to outsmart chronic conditions, together."
