Teton.ai, a healthtech start-up based in Copenhagen, has secured $5.3M in funding for its AI-supported nursing companion. The companies solution provides nurses with real-time monitoring tools and assists with paperwork. The AI assistant uses smart cameras to scan wards for updates and patient activity, which is then fed back into a web app to keep nurses informed of any changes.
To support the roll-out of the company’s product in Denmark and beyond, the company has now raised $5.3M led by Plural VC. Several angel investors, including Frontline Ventures, Finn Murphy, also participated in the round.
According to reporting by Sifted, Teton was founded in February 2020 and spent its first two years developing its technology and training its AI on a ward at Nykøbing Falster Hospital in Denmark. Teton then began selling its nursing companion in 2022. The company’s solution is currently in use in two hospitals and two care homes in Denmark. The company says that the tech can reduce a nurse’s workload by 25%, according to its own research.
Mikkel Wad Thorsen, Co-founder and CEO of Teton, explains: “Countries across the world are facing problems with staff shortages in both hospitals and the wider care sector. This problem is only getting bigger with pressures mounting to provide high-quality care to a growing ageing population. Our AI solution, which has privacy integrated into the design, gives nurses more time to take care of patients and residents, without burdening their workload. We’re excited about the impact this will have globally and look forward to working with the Plural team to help us scale up and expand in the next few years.”
Taavet Hinrikus, who led the investment round at Plural, adds: “Growing demand from an ageing population and shortage of supply of trained staff are the two big issues creating challenges in healthcare systems around the world. In line with Plural’s ambition to solve hard problems, we see huge potential for Teton.ai as a European-founded company building an AI-assisted technology platform to support nurses to provide better patient care. Teton’s mission is vital and we are thrilled to be working closely with Mikkel, Esben and the team.”