Briefing

Swift Medical raises US$8M to advance AI-driven system for wound care

Virgo Investment Group and BDC’s Women in Technology fund co-led the investment round in the Toronto-based startup. Both are previous investors, including in a Series B round that raised US$35 million in 2021. (The Logic)

Briefing

Swift Medical raises US$8M to advance AI-driven system for wound care

By David Reevely

Jan 25, 2024

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Talking point: Swift named a new COO, Shannon Allen, on Tuesday; medtech veteran Brian Litten took over as CEO last March to lead the firm’s expansion into the United States. The company also added a new chief commercial officer and chief information officer in August. Wound care is a multibillion-dollar business around the world, from healing after surgery to preventing life-threatening infections in diabetics. Swift’s Skin and Wound tool tracks patient wounds—including in hospitals, nursing homes and home care—and uses artificial intelligence on smartphone photos to identify high-risk cases and monitor progress. Another of Swift’s previous investors is Relay Ventures, which is also an investor in The Logic.

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