CAMBRIDGE, Mass., Feb. 10, 2021 /PRNewswire/ -- Rhino Health today announced it has closed a $5 million Seed financing round to improve AI-based healthcare solutions. The Rhino Health Platform connects hospitals and AI developers, providing access to a large, continually updated, distributed dataset from a diverse group of patients. Built on the foundation of Federated Learning, Rhino Health powers AI models that deliver consistent results and improve the standard of care. Ultimately, this improves health outcomes for large populations of patients and creates equitable access to advanced AI-based diagnostics and treatment pathways.
LionBird Ventures led the financing round, which also includes Arkin Holdings and several angel investors who bring extensive experience across healthcare, imaging technology, software and biotech.
"Today, the transformative promise of AI-based healthcare solutions is held back by lack of access to a large dataset from a diverse patient population collected in different places and updated over time," said Ed Michael, Managing Partner at LionBird Ventures. "Rhino Health is changing that. By connecting the hospitals that have extensive clinically relevant data with the innovative companies that are developing new AI-based solutions, Rhino Health will accelerate access to advanced healthcare across increasingly diverse patient populations."
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Rhino Health and NVIDIA are collaborating to bring the benefits of Federated Learning into the clinical setting. Rhino Health co-founder and CEO Ittai Dayan, MD, previously co-led the EXAM Study with NVIDIA researchers, which utilized Federated Learning, a distributed learning technique that can train machine learning models while protecting patient privacy. With the Rhino Health Platform, using NVIDIA Clara, the companies are empowering the clinical community to build robust AI models across different geographies, institutions, medical devices and patient demographics. Rhino Health is now a member of the NVIDIA Inception program.
For hospitals and health systems, Rhino Health makes it easy to collaborate in data-driven studies and AI research initiatives as well as with companies developing healthcare AI solutions. Patient privacy is always protected, as data never leaves the system of origin. For the companies developing AI-based medical devices and software applications, Rhino Health provides access to an unprecedented quantity and quality of clinically relevant real-world data.