AI Hearing Aid Startup Fortell Raises $163 Million to Challenge Industry Incumbents
Founder Matthew de Jonge says six years of work led to a device aimed at making hearing aids as accepted as glasses, backed by Founders Fund, Thrive Capital and Valor Equity.
Fortell, a startup building AI-powered hearing aids, has raised $163 million from investors including Founders Fund, Thrive Capital and Valor Equity, according to a report by TechCrunch.
The company was founded by Matthew de Jonge, who told TechCrunch that his motivation stemmed from a personal question: why people often have to be persuaded to wear hearing aids, while no one needs convincing to wear glasses. De Jonge said this question drove him to spend six years developing Fortell's technology.
According to TechCrunch, Fortell aims to use artificial intelligence to compete in a hearing aid market that has long been dominated by a small number of established manufacturers. The report described the funding round and investor backing as part of an effort to challenge what TechCrunch characterized as a monopoly-like structure in the industry.
Details about Fortell's specific technology, product timeline, or valuation were not fully disclosed in the available source material. TechCrunch's report was presented in video format accompanying the article.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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