Series B$20Mled by Asahi Kasei Medical, Rapha Capital9/27/2026

Asahi Kasei Medical and Rapha Capital Co-Lead FIZE Medical's $20M Series B First Close

The Modi'in, Israel-based developer of connected urinary monitoring systems has closed the first tranche of a Series B, with AI Funding tracking $20M in cumulative funding across one round.

FIZE Medical has announced the first close of a $20 million Series B financing, co-led by Asahi Kasei Medical and Rapha Capital.

The Israeli company builds medical monitoring technology for hospitals, focused on automating urine output and intra-abdominal pressure measurement in acute care environments. Its systems are aimed at clinicians managing critically ill or surgical patients, where fluid balance and kidney-related indicators require close tracking.

FIZE Medical positions that automation as its differentiator: replacing manual urinary monitoring workflows with connected, continuous measurement intended to improve data availability at the bedside. That framing puts the company in the patient-monitoring segment of AI healthcare, rather than in diagnostics or drug discovery.

The round was announced on Sept. 17, 2026, and was co-led by Asahi Kasei Medical and Rapha Capital, both of which are listed as investors in AI Funding's database. The database records the Series B as the company's only tracked financing round, with cumulative funding listed at $20 million. FIZE Medical is headquartered in Modi'in, Israel.

The announcement did not disclose how the company intends to deploy the proceeds, nor did it include a valuation or any statement of revenue.

For context on where the deal sits in the broader market, AI Funding's tracked data places FIZE Medical among AI healthcare companies raising in the tens of millions this year. Larger tracked raises in the sector include IM8 at $1.0 billion, Neko Health and Neko at $700 million each, Alan at $460 million, Function Health at $450 million, and Chai Discovery at $400 million — a reminder that capital in healthcare AI is heavily concentrated at the top of the market.

For FIZE Medical, the significance of the Series B first close lies less in its size relative to those mega-rounds than in the identity of its co-leads. Asahi Kasei Medical, a strategic investor with a footprint in healthcare, alongside the venture firm Rapha Capital, gives the company backing from both an industry and a financial source as it scales a hardware-and-software monitoring product sold into acute care settings.