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Contxto – There’s no denying that chatbots are trending. Just take a gander at what HRtech Emi Labs from Argentina and mental health startup Youper from Brazil have recently accomplished with their AI-powered solutions.
Also hailing from Brazil is a healthtech by the name of TNH Health. In a recent round led by Valor Capital Group and health-focused entrepreneurs, the startup just wrapped up a Series A worth US$2 million.
The new capital will reportedly go towards further marketing the chatbot, not to mention a potential U.S. expansion. Moreover, funds will help the team expand services beyond mental health but also include chronic illnesses and pregnancy support.
Founded in 2013, TNH Health’s chatbot (also known as Vitalk) communicates with users about their health concerns, especially when it comes to mental health issues. For increased accessibility, however, everything takes place over Facebook Messenger, Whatsapp, web, SMS, Android, as well as iOS channels.
Within its mental health focus are specialties in anxiety, stress, in addition to depression. To accomplish this, a team of clinicians including psychologists, nurses, doctors, data scientists, and designers created the platform.
While the tool is called Vitalk, the digital couch goes by the name Viki. This virtual assistant provides supplemental support to users. That’s to say, it doesn’t try to replace traditional therapy. Rather, TNH Health’s platform adds another level of precaution when it comes to preventing further issues from developing.
“Vitalk is not a replacement for a medical appointment, nor therapy, and it is certainly not a diagnosis, but it is a great way of resolving day-to-day health and wellness issues to prevent problems down the line,” said CEO Michael Kapps.
Many parts of Latin America still lag behind other parts of the world when it comes to healthcare technology. At the same time, however, this deal marks progress when it comes to regional AI-powered solutions.
“It is impossible to address the gaps in primary care and mental health in Brazil without applying technologies like artificial intelligence,” added Kapps.
Healthtech in Brazil
According to Liga Ventures, today there are over 260 health startups in Brazil. Considering that the healthcare industry is the seventh-largest in the world with more than US$42 billion spent annually, sources say that the Brazilian market could benefit from disruption.
The fact of the matter is that over US$18 billion goes to waste due to inefficiencies. On top of this, there are also high-costs, relentless bureaucracy, as well as unequal access. Safe to say that startups such as TNH Health are here to stay.