Finnish health tech company CardioSignal has announced that it has raised $10 million in Series A funding for their tech to promote early detection of heart diseases, with the investment intended to help scale the solution and pursue further clinical validation.
The company’s patented technology uses one clinical modality without the need for specialised medical equipment and “enables a digital cardiac biomarker for several major heart diseases”. It functions by harnessing gyroscope and accelerometer motion data from a smartphone placed on a patient’s chest “to measure specific rotational movements of the heart that can be used to accurately detect abnormal heart function”. Data collected in this way can then be analysed using an algorithm in a cloud service, which the company states allows for “immediate results”.
To date, clinical studies have validated the digital biomarkers for atrial fibrillation and heart failure, and the company is currently working on expanding this to aortic stenosis, coronary artery disease, and pulmonary artery hypertension.
Dr Juuso Blomster, founder and CEO of CardioSignal, comments that the funding “enables us to scale a detection and remote monitoring solution for primary care doctors and their patients. Currently, primary care has very limited tools to detect heart diseases, like heart failure patients who are often already experiencing symptoms. We can support the shift in cardiovascular care from treating complications to earlier detection and prevention.”
The funding round was led by DigiTx Partners with existing investor Maki.vc. and participation from Sandwater. CardioSignal shares that David J. Kim, M.D., managing director of DigiTx, will be joining the board.
In other funding news, medical device company EndoQuest Robotics from Houston, Texas, has announced the successful closure of a $42 million C-1 preferred financing round, with the strategic funding set to help advance its flexible endoluminal robot which is designed to support minimally invasive procedures.
