Medical robotics company, Inovytec, has raised €12 million ($14.2 million) in funding for its autonomous blood-drawing device, the InoDraw. This marks the first investment in the Israeli-based startup, which was founded in 2011.
The InoDraw is a portable device that uses robotics and artificial intelligence to perform blood draws without the need for a healthcare professional. The device is intended for use in emergency situations, where time is of the essence and medical staff may not be available.
“We developed the InoDraw to address a critical need in emergency medicine,” said Udi Kantor, CEO of Inovytec. “Drawing blood is a routine procedure, but it can be time-consuming and difficult to perform in emergency situations. Our device can perform blood draws quickly and accurately, without the need for a healthcare professional.”
The InoDraw uses a combination of robotics, image processing, and AI algorithms to locate a patient’s veins and perform the blood draw. The device is fully autonomous, meaning that it can be operated by anyone with minimal training.
According to Inovytec, the InoDraw has already been tested in several hospitals in Israel and has received positive feedback from healthcare professionals. The device is currently undergoing clinical trials in Europe and is expected to receive regulatory approval in the coming months.
The €12 million funding round was led by Dutch investment firm LSP and Israeli venture capital firm MEDX Ventures Group. The funding will be used to further develop the InoDraw and expand its commercialization efforts.
“We are thrilled to have the support of such experienced investors,” said Kantor. “This funding will allow us to bring the InoDraw to market and help save lives in emergency situations.”
The InoDraw is the latest example of the growing trend towards autonomous medical devices. As AI and robotics technology continue to improve, we can expect to see more devices like the InoDraw that are capable of performing routine medical procedures without the need for a healthcare professional.
“We believe that the InoDraw represents the future of emergency medicine,” said Kantor. “Our device has the potential to save lives and improve patient outcomes in a variety of settings.”
Via The Impactlab