Sweetch is an Israeli medtech startup which offers a hyper-personalized engagement platform for chronic conditions. The company has raised $20 million in a Series A round of funding led by Entrée Capital.
Founded in 2013, Sweetch boasts that it is the first behavioral science company to leverage AI & EI (emotional intelligence) through its digital therapeutics solutions. Its hyper-personalized engagement platform enables health ecosystem players to build continuous relationships and engage with every individual patient, at scale.
According to Psychology Today, emotional intelligence – also known as emotional quotient as in IQ – refers to a person’s capability in identifying and controlling their emotions, in addition to the emotions of others. Emotional intelligence is usually said to comprise the following kills: specifically emotional awareness, or the ability to recognize and name your emotions; the ability to utilize those emotions and apply them to things like problem solving; and the facility to control emotions as in regulating your emotions when necessary and helping others to do the same.
So it is no wonder that emotional intelligence is a important factor in the treatment of chronic pain. There is obviously a significant psychological component in how we deal with pain and suffering.
Israel is known as the startup state or Startup Nation. The country has had multi-billion dollar exits for numerous software and security companies. But Startup Nation is also known for its medtech startups. Israel has always been a center for medical research and innovation. Now put that together with its startup culture and you have medtech nation.
And the medtech firms are second only to the cybersecurity startups in bringing in the big bucks. Just last month KAHR, an Israeli medtech startup specializing in cancer immunotherapy which is developing novel multifunctional immuno-recruitment proteins, brought in $46.5 million in new financing. And the Israeli Startup Carbyne, which offers emergency response technology brought in $20 million led by Global Medical Response, the largest private emergency medical services provider in the USA. Aimed at redefining emergency collaboration amid the public health crisis, Carbyne will be working closely with Global Medical Response to develop advanced and widely applicable interactive communication solutions for the health and medical sectors, as well as to construct new dedicated domestic resources.
“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,” said Yoni Nevo, CEO of Sweetch. “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.”