Signal 1 will commercialize technology created at Unity Health’s St. Michael’s Hospital and TD’s Layer 6 unit. Montreal-based Inovia Capital led the seed round, with Toronto-based Radical Ventures also participating; TD contributed US$4 million. (The Logic)

Talking point: Tomi Poutanen, the incoming CEO of Signal 1, has been TD’s chief AI officer since the bank bought his startup Layer 6 in January 2018. He’s also a co-founder and partner at Radical, which has made several other health-tech investments, including firms applying AI to drug discovery, clinical trials and medical records. Signal 1’s first product is ChartWatch, which predicts hourly whether a patient could deteriorate rapidly and warns hospital staff if the risk is high. The firm says it has reduced mortality rates at St. Michael’s, which has been using Chartwatch since October 2020. Mara Lederman—a professor at the University of Toronto’s Rotman School of Management and former lead at the Creative Destruction Lab—is Signal 1’s other co-founder and COO, while Unity’s analytics executive Muhammad Mamdani serves as its clinical advisor.