Xtra Vision AI, the healthcare startup that aims to revolutionize access to health protection tools with an AI platform for musculoskeletal services, announces that it has closed an investment round worth $ 3.5 million that sees the participation of Italian Angels for Growth and Italians in VC Partners.
“To tell the truth,” CEO and co-founder Pierangelo Raiola explains to Startupbusiness, “we had already closed this seed round in November 2023, but given the growing interest from investors, especially Italians, we have decided to extend it and we are also already working on the Series A round, of which I hope to be able to share the news soon.”
In addition to IAG and IVC, the round also saw the participation of the US fund SaxeCap, the German fund Yabeo, the US fund Gaingels, the Italian fund Lumen Ventures, the investors Sam Hendel, co-founder of Data Miner, Sean Glass, partner of Evidence Ventures, the Holiding Wellness company headed by the Alessandri family, Claudio Costamagna, former top manager of Goldman Sachs, and sportsmen Gigi Buffon and Giorgio Chiellini.
Xtra Vision AI is based in New York, was founded at the end of 2021 by Pierangelo Raiola together with his brother Michelangelo and Ajay Naik, today it has a staff of about 15 people and actively collaborates with 20 clinics in the USA because in the increasingly interconnected landscape of the digital world, immediate access to healthcare has become a priority, however, for the vast majority of the world’s population, access to musculoskeletal services (MSKs) remains an unattainable luxury and that’s exactly where Xtra Vision AI comes in.
More than 1.5 billion people worldwide lack access to the musculoskeletal services they may need. Most of the resources currently available are focused on treating chronic injuries that require long months of care, thus neglecting the urgencies of those facing acute conditions and in need of timely and targeted care.
Xtra Vision AI stands out for its solution that identifies itself with the agent named Nora health which is an AI-powered digital gateway that offers instant access to healthcare services and self-management solutions for everyone. Xtra Vision AI’s screening platform enables rapid identification of patients with acute musculoskeletal conditions, directing them to the most suitable care pathway. In addition, Xtra Vision AI offers an auto-triage navigator for the low-pain market, a robust AI-based support that provides personalized guidance, and auto-triage for MSK conditions.
With more than 350,000 digital applications in the health sector and approximately 90,600 physical therapy clinics and physical rehabilitation centers in the United States alone, the market for MSK solutions is vast and constantly expanding. Xtra Vision AI has already demonstrated considerable traction, with 20 active customers covering over 350 thousand users. The startup promises to be the main platform
onboarding for MSK services in healthcare.
“Today for us the reference market is the USA – adds the CEO – but we are already working to internationalize towards Australia, India and Europe, also for this reason we are building the advisory board and we are structuring ourselves also aware that in the last 4 months we have seen exponential growth with our AI agent which has been used by over 250 thousand people”.
Xtra Vision AI is at the forefront of developing advanced AI-based technologies for the healthcare industry, with a particular focus on musculoskeletal well-being. The startup is developing the next generation of virtual front door to simplify, accelerate, and optimize healthcare onboarding and monitoring, offering services such as generative symptom control, computer vision exams, and remote patient monitoring.
Paolo Maresca and Gianfranco Giannella, IAG champions in this investment say in a note: “Xtra represents a unique opportunity in the digital health landscape. Their AI-powered solution addresses a global gap in access to musculoskeletal services, offering timely and targeted care to those in need. We are proud to support founders Pierangelo and Michelangelo Raiola in this mission, and we are confident that, with our support, Xtra will continue to transform the way people access and manage their health.”
Raiola concludes: “We are thrilled to welcome IAG on our journey towards internationalization and to have an investor with an aligned vision. A special thanks goes to Luigi Di Piazza, Gianfranco Giannella and Paolo, who strongly believed in us and continue to provide us with valuable operational insights. Thanks to them, we can accelerate our journey and take an even more targeted approach to the needs of patients, a key element of the success of our startup. This partnership allows us to scale our innovative solutions thanks to artificial intelligence and computer vision, where accessing the visit becomes a matter of minutes instead of weeks. We are confident that we have a significant impact on the delivery of healthcare globally. Together, we are paving the way for a future where quality care is easily accessible to all. Creating a win-win scenario for both patients and healthcare companies.”
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