Unique German health app attracts investors
The Berlin-based start-up Ada Health has just received more EUR 40 million in funding from a range of investors. The innovative app, called Ada, is driven by artificial intelligence (AI).
Analysts refer to Amazon's intelligent personal assistant Alexa, to describe Ada. They say it's "a little like an Alexa for health." Through a chat interface, users can input their symptoms. With that information and personal data already entered by the user, such as age, weight, gender and allergies, the app then provides an "assessment report" and links them to real life doctors as well.
Ada is the product of cooperation between researchers and developers in Berlin, London, and Munich. Since the start-up was founded in 2011, the size of its staff has grown to 100. At the end of 2016, Ada became available in app stores. The company's CEO, Daniel Nathrath says it was downloaded more than one million times in the first six months it was online. The company says that by the end of October, about 1.5 million people had used it, in the US, Canada, and the UK, for example.
The latest investors are Access Industries, June Fund and Berlin-based Cumberland VC. The Vice Chairman of Access Industries, Guillaume d'Hauteville, explains what makes Ada attractive, "They have developed a unique and highly effective health management solution driven by a team with deep medical and AI expertise and years of technology development." The company says it will use the funds to set up a new office in the US and expand into new markets.
In a recent interview with Tech Crunch, Nathrath said,"The future of healthcare lies in a much more patient-centric model where individuals have actionable insights at their fingertips, and doctors and artificial intelligence work together to support patients throughout their healthcare journey."