Cardiomatics raises PLN 12.5m to develop artificial intelligence for ECG analysis
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Cardiomatics, a company developing an AI tool used to analyse ECGs, has raised PLN 12.5m in funding. Up to PLN 8.5m came from a seed round led by KAYA VC, a Czech fund, which has in its portfolio, among others, Rohlik, Booksy and DocPlanner. Additional PLN 4m funding came from the National Centre for Research and Development. Nina Capital (Spain), Innovation Nest (Poland) and Nova Capital (Italy) funds also participated in the round.
Cardiomatics, founded in 2017, develops artificial intelligence methods which makes it easy for medical staff to analyse the electrocardiogram (ECG). Specifically, doctors can use this tool to detect and analyse cardiac abnormalities that may be indicative of cardiovascular disease. Obtaining the report is done without involving a specialist, which is very helpful, since ECG analysis nowadays still relies heavily on manual work by doctors based on their years of experience. So far, since its launch in 2018, the system has commercially analysed tests from tens of thousands of patients in various European countries, while since January the system has also been used by patients in Poland thanks to the cooperation with the network of American Heart of Poland clinics.
It is worth noting, that Cardiomatics has obtained a medical device certificate for cloud software with AI elements. The solution does not require any changes to the equipment in the medical facility and works with most ECG recorders available on the market. The software is also compliant with the Health Insurance Portability and Accountability Act (HIPAA). Cardiomatics will use the funds for further product development, strengthening its position in key markets and preparing the product for further international expansion. Today the software is used by, among others, the University of Basel, the University of Copenhagen and the Medical University of Warsaw.
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