Health Care Financing

Telehealth Startup Antidote Health Secures $12 mln In Seed Funding

Antidote Health, a New York-based telehealth startup, has closed a seed funding round to secure $12 million in funding, allowing it to make quality healthcare accessible to all Americans.

The round was led by iAngels, Well-Tech Ventures, and Flint Capital, also counting with participation from angel investors. Antidote Health had previously raised $1 million in pre-seed funding back in July of 2020. Shelly Hod Moyal, iAngels Founding Partner, said about the round:

“If there is any one industry for which COVID-19 highlighted the major gaps and necessary advances, it is the need for access to telehealth. In the wake of a global pandemic, and as an Israeli who can take for granted access to national healthcare, it is mind-boggling that as many as 1 in 4 Americans do not have access to equitable and affordable healthcare. We are proud to lead Antidote Health’s financing round, and to play a role in their journey to level the field for all Americans to receive adequate telemedicine,”

The B2C startup is aiming to build an AI-based virtual Health maintenance organization (HMO) to provide uninsured and underinsured Americans with a means to connect with doctors in a remote manner, rectifying the lack of access to healthcare that has characterized the world’s largest economy.

The funding will allow Antidote health to expand in the United States and boost its marketing initiatives to reach a wider audience. With over 50 doctors and 30 employees, the startup is headquartered in New York but also runs a Research & Development center in Israel. Moyal said about the strategic location of the startup’s R&D center:

“Israel is not only a leading country in digital health, but in technology as a whole, as can be witnessed by the record breaking year we are experiencing. This expertise and ability to simplify processes coupled with Fintech advances that allow for payment from the palm of your hands has made way for Antidote Health’s solution to an age-old issue.”

With 24/7 virtual acute and primary care services already available in New York, New Jersey, Florida, Michigan, and North Carolina, the telehealth startup has seen increasing success by offering plans for as low as $29 without compromising quality.