Docbot raises $4M in series A funding, appoints new CEO

Artificial intelligence company Docbot raised $4 million in series A funding and selected Andrew Ritter as its CEO, according to a May 24 press release.

Docbot is based in Irvine, Calif., and was founded in 2016. Its UltivisionAI device uses artificial intelligence to detect gastrointestinal diseases. Series A funding was provided by Khosla Ventures, Bold Capital Partners, Collaborative Fund and Boutique Venture Partners. The money raised during series A brings the company to a total of $8.5 million raised since Docbot's inception. The additional funding will go toward clinical trials and seeking FDA clearance.

Mr. Ritter received his MBA from Philadelphia-based University of Pennsylvania and has more than 16 years of experience in GI diseases. Docbot's founding CEO, Andrew Ninh, will continue as the company's chief strategic officer overseeing business development, strategic partnerships and innovation.

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