AI hearing aid startup Fortell raises $163M to challenge industry giants
Fortell, an AI hearing aid startup, has raised $163 million from investors including Founders Fund and Thrive Capital. The company aims to build hearing aids that intelligently filter sounds, focusing on important audio rather than amplifying everything. Founder Matthew de Jonge discusses disrupting a market dominated by five companies.
Fortell's $163 million round includes backing from Founders Fund, Thrive Capital, and Valor Equity Partners CEO Antonio Gracias, signaling strong investor confidence in AI-driven medical wearables. Founder Matthew de Jonge spent six years developing the technology before this funding milestone. The startup enters a market where five established companies control roughly 97% of production, and where insurance typically does not cover device costs, leaving many users to pay out of pocket. De Jonge's founding motivation stemmed from observing that people readily wear glasses but resist hearing aids, highlighting a stigma and usability gap the company hopes to address through smarter sound filtering rather than simple amplification.
This funding could pressure entrenched hearing aid manufacturers to accelerate innovation, potentially benefiting millions with hearing loss who currently avoid bulky, amplifying devices. If Fortell's AI filtering proves effective, it may reduce social isolation among older adults and normalize hearing assistance as a mainstream wearable. However, high costs and lack of insurance coverage could limit access, meaning the technology's societal impact may depend on whether pricing eventually drops or reimbursement policies shift.