Volvo Cars Tech Fund invests in MDgo

Tel Aviv is not just Israel’s largest city, it is also a technology hub bursting with new and exciting start-ups. In other words, it is perfect scouting territory for our Volvo Cars Tech Fund, whose venture capital experts scour the planet for new investments. Their latest investment is called MDGo.MDGo specialises in what they call medical artificial intelligence. The firm is developing a smart, advanced machine learning algorithm that will combine real-time data generated by a car during an accident with medical knowledge. This should allow it to make pretty accurate predictions about the type of injuries that emergency personnel are likely to encounter at the scene of the accident. Those predictions would then be made available to those same medical professionals via a cloud-based platform. In other words, medical personnel would arrive better prepared, potentially reducing the likelihood of complications and (by extension) serious injuries or fatalities.

“MDGo’s technology aims to do something that is close to our hearts, which is saving lives,” says Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund. “Their mission as a company seamlessly connects with ours at Volvo Cars, so we are happy to support the continued development of MDGo.”

MDGo has been growing its business in recent years with the help of DRIVE, a so-called ‘accelerator’ based in Tel Aviv for young companies in the mobility sector. Volvo Cars has been involved with DRIVE since 2017, which is comparable to the Mobility XLab initiative in Gothenburg, Sweden.

Co-Founder and CEO of MDGo, Itay Bengad: “MDGo and Volvo share the same value – safety first. We are delighted that Volvo has identified our capabilities in the use of car data to deliver advanced connected services that can offer new value to passengers, all the way from lifesaving to vehicle design and insurance claim automation. Together we could bring tremendous impact to the connection between the automotive, healthcare, and insurance worlds and change the way safety is planned and executed.”