Olive Diagnostics, an IoMT MedTech startup that uses AI for 100% passive urine analysis, has announced it has joined the Google for Startups Growth Academy. The program is designed to help promising startups accelerate their growth using the best of Google products and services while being able to access global best practices and connect with product experts, fellow founders, and potential investors through Google’s startup community.
Olive Diagnostics are the pioneers of the Olive KG, the world’s first hands-free, non-invasive, AI-based optical device for 100% passive and seamless urinalysis, which mounts on any toilet. The unit performs high-quality analysis of important parameters in the patient’s urine in each urination without user intervention. In September last year, Olive Diagnostics announced that it received the EU CE Marking to use the Olive KG as a medical device, with orders from two European organizations soon following.
Olive Diagnostics joined the Growth Academy: Health program cohort on January 16, with the initiative concluding at the end of this month. The program connects Israeli health startups to Google’s products, people, and best practices to support them in their product market fit and connect them to relevant stakeholders in their target market. Olive Diagnostics has joined other selected startups to have the exclusive opportunity to hear from and meet top leadership from Alphabet’s health mentors across Google Health, Fitbit, and Verily.
Google for Startups Growth is on a mission to support later stage thriving, diverse, and inclusive startup communities around the world. As a participant in the program, Olive Diagnostics receives access to insights on brand communication strategy, product, and UX development, Google Ads optimization, and tailored one-on-one sessions with Google health experts.
Yuval Passov, Head of Google for Startups Israel, stated: “Our team at Google for Startups Israel is proud to welcome Olive Diagnostics on board to our Growth Academy – Health program, together with eight other ground-breaking health startups. Olive’s AI-powered device allows early detection of various diseases, allowing their users around the world to prevent medical issues before they even suspect that there is a problem. Olive’s participation is a great example of our support for startups that are solving the world’s important health challenges with agility, innovative technology, and determination. We can’t wait to see the positive impact they will have on the health and well-being of people everywhere and look forward to seeing their progress during the ongoing cohort.”
“Being part of this exclusive program is a testament to the work Olive Diagnostics has done in the field of IoMT. This builds on the validation of the CE Marking for our vision and technology to transform medical care with access to non-invasive prevention,” said Guy Goldman, CEO and co-founder of Olive Diagnostics.
“This vote of confidence from Google reinforces our commitment to providing solutions that aid patients and healthcare providers in detecting diseases earlier using advanced technologies. We’re democratizing pro-active healthcare for all, and being part of Google for Startups will add further impetus to our growth plans,” he added.
Olive Diagnostics was founded in 2019 by Guy Goldman (CEO) and Corey Katz. The startup’s team includes experts in Biochemistry, Chemistry, Physics, Data Analytics, Optics, and business development for the health and wellness markets. Olive Diagnostics is also in the FDA pre-submission phase for the United States.
The company has raised seed financing of $7.3 million, after recently raising an additional $1.5 million from existing investors and private investors. The investors in the pre-seed stage include Israeli HMO Maccabi Healthcare Services, Mayo Clinic, eHealth Ventures, Amgen Ventures, The Israel Innovation Authority, alongside private European and American private investors.
Olive recently announced a partnership with Mekorot, Israel’s national water company. Olive will develop for Mekorot a mobile optical kit to detect chemical and biological compounds in lakes and natural water sources. The development agreement also includes an investment by Mekorot in Olive Diagnostics. Use of the technology will improve the monitoring of different water sources, thereby enabling timely detection and treatment of hazardous contaminants in the water source.