Volvo Cars Tech Fund, the investment arm of Volvo, has backed Israel-based medical AI startup MDGo, incorporated as Endovitech, the former announced Monday. The financial terms of the investment were not disclosed. Calcalist’s Hebrew version first reported on the investment and a planned joint product last month.
Founded in 2017 and based in northern Israeli city Haifa, MDgo developed a system for analyzing injuries incurred by passengers during a car accident using the car’s existing internal sensors and connectivity capabilities. The system automatically sends its report to hospitals and emergency medical services.
MDgo’s technology is currently being piloted by Israel’s national emergency medical service Magen David Adom, and last month, the company announced a partnership with Seoul-headquartered carmaker Hyundai.
Also on Monday, Volvo announced it has backed another Israeli autotech startup, UVeye, a Tel Aviv-based company developing vehicle inspection technologies.
Meir Orbach / CTech
{Matzav.com}
