Cardiomatics has raised around €3.2 million in seed funding led by Central and Eastern European VC KAYA. Nina Capital, Nova Capital, and Innovation Nest also participated in the round. The seed raise also includes a $1 million non-equity grant from the Polish National Centre of Research and Development.
Founded in 2017, Cardiomatics is changing the way how doctors carry out ECG analysis using AI. The tool works by analysing a heart’s electrical activity to provide information about heart rate and rhythm with the software generating reports in minutes. This enables cardiologists to optimise ECG analysis and help make them more efficient in one of the most difficult and time-consuming areas of diagnostics. Moreover, this would empower doctors to remote care and carry out cardiac diagnoses even when they can’t see a patient in person without needing to refer them to specialist hospitals.
By the AI tool, over 3 million hours of ECG signals have been already analysed commercially by more than 700 customers in 10+ countries including Switzerland, Denmark, Germany, and Poland.
Cardiomatics will use the funding to invest in product development, business activities in existing markets, and prepare the product to launch into new markets. “Proceeds from the round will be used to support fast-paced expansion plans across Europe, including scaling up our market-leading AI technology and ensuring physicians have the best experience.” – the start-up said.
More information available here.
Image credit: Cardiomatics