Medtech Company CardioSignal secures $10 million in series A round funding. This round was led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc. David J. Kim, M.D., managing director of DigiTx, will be joining the board. To-date, CardioSignal has raised $23 million.
The Series A investment will fund additional clinical validation of CardioSignal’s breakthrough technology and the expansion of its commercial efforts.
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CardioSignal develops digital technologies and software-as-medical-devices to provide early detection of heart diseases, and provides the first and only technology to detect several major heart diseases with high accuracy using just one clinical modality without any specialized medical equipment.
CardioSignal’s technology harnesses gyroscope and accelerometer motion data from smartphones to measure specific rotational movements of the heart that can be used to accurately detect abnormal heart function.
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The company has 52 patents covering its method and clinical algorithms, which are based on gyrocardiography and have been heavily researched and documented in more than 20 peer-reviewed scientific publications.
Cardiologist Dr. Juuso Blomster, founder and CEO of CardioSignal said, “More than 20 million people die each year from cardiovascular diseases. This 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,”
David J. Kim, managing director of DigiTx Partners said, “CardioSignal has the potential to meaningfully impact heart disease on a global basis. Besides the ability to detect various heart diseases, which continue to be one of the common causes of death, CardioSignal has lowered the barrier to the adoption of its technology by making it readily available to all individuals who have smartphones. We can reach millions of at-risk patients and make a real impact,”
About CardioSignal
CardioSignal is a brand and a product by Precordior Ltd, an ISO 13485 and 27001 certified health technology company formed in 2017 and headquartered in Turku, Finland. Subsidiary CardioSignal Inc is based in Palo Alto, CA, USA. CardioSignal develops groundbreaking solutions for the detection of heart diseases using digital cardiac biomarkers.
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