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Fortell raises $163 million to develop AI hearing aids that filter real-time audio
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AI startup Fortell has secured $163 million in funding to build hearing aids that use real-time sound analysis to prioritize important audio over background noise.
The company aims to disrupt a market where five firms control 97% of products and innovation has been slow. By moving away from simply increasing all volume, the technology attempts to solve a specific usability friction in hearing aid adoption.
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Fortell raised $163 million from investors including Founders Fund, Thrive Capital, and Antonio Gracias.
The technology uses AI to identify important sounds in real time and reduce the volume of unimportant audio.
The startup is targeting an industry characterized by a five-company monopoly and a lack of insurance coverage.
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Fortell is introducing a shift in how hearing aids process audio. While traditional devices typically increase the volume of all sounds simultaneously, this new approach uses AI to understand the surrounding environment. The system is designed to isolate important sounds and turn down the rest in real time.
The company is entering a highly consolidated market where five companies control 97% of the product landscape. This monopoly is compounded by systemic barriers, such as the fact that insurance typically does not cover the cost of these devices.
Matthew de Jonge spent six years developing this technology to address the gap between the seamless adoption of glasses and the friction associated with hearing aids. The project is now backed by significant capital to challenge the slow pace of innovation in the sector.
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