Cardiomatics raises $3.2M in seed round from KAYA VC, others

SaaS News - Cardiomatics raises $3.2M in seed round from KAYA VC, others (source: SaaS Industry)
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Cardiomatics has raised $3.2M in a seed round funding led by KAYA VC to expand the use of its ECG analyzing technology via cloud-based AI tools

Poland’s Cardiomatics, a provider of cloud-based AI tools for cardiology, has raised $3.2 million in a seed round led by KAYA VC to expand the use of its ECG analyzing automation technology, reports state.

On its official LinkedIn handle, Cardiomatics thanked KAYA VC and additional investors, Nina Capital, Innovation Nest and Nova Capital, who participated in the round, and stated that the investment would accelerate the development of its solution and drive market expansion. 

We believe that it will ultimately also contribute to enhancing the value of digital ECG diagnostics globally.

Cardiomatics stated

The seed round investment includes a $1 million non-equity grant from the Polish National Centre of Research and Development. 

Cardiomatics, founded in 2017, aspires to bring AI to cardiac diagnostic and treatment. In a statement to TechCrunch, the company stated that its tool enables cardiologists to optimize their workflow to treat more patients and allows general practitioners and others to offer ECG analysis to patients without the need to refer them to specialist hospitals.

The data set that we use to develop algorithms contains more than 10 billion heartbeats from approximately 100,000 patients and is systematically growing. The majority of the data-sets we have built ourselves, the rest are publicly available databases

Cardiomatics stated.

The company would use the proceeds from the funding to invest in product development, expand its business activities in existing markets and gear up to launch into new markets, it told TechCrunch.

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. We prepare the product to launch into new markets too. Our future plans include obtaining FDA certification and entering the US market.

Cardiomatics stated.
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