Cardiosense, Chicago-based digital health company leveraging artificial intelligence and multi-sensor devices to enable early detection of cardiovascular disease, announced that it has raised $15.1 million in Series A funding.
The round was co-led by Broadview Ventures and Hatteras Venture Partners, with participation from Laerdal Million Lives Fund, OSF Ventures, UnityPoint Health Ventures, and Portal Innovations.
The capital will be used to support team expansion, accelerate product development, and fund an expansive heart failure study.
"We're excited to have our new investors join our mission of combating preventable cardiovascular disease," said Amit Gupta, Cardiosense co-founder, and CEO. "Recent data has underscored both the need and potential impact of actionable patient monitoring solutions, and this capital allows us to accelerate the clinical development of our platform."
The company's first clinical application focuses on improving the management of congestive heart failure (CHF), a condition that affects more than 6 million people in the US and is expected to cost the healthcare system more than $70 billion annually by 2030.
The company plans to launch a nationwide clinical study in 2023 to further refine and validate the algorithm over a diverse population of CHF patients.
Company: CardiacSense Inc.
Raised: $15.1M
Round: Series A
Funding Month: December 2022
Lead Investors: Broadview Ventures and Hatteras Venture Partners
Additional Investors: Laerdal Million Lives Fund, OSF Ventures, UnityPoint Health Ventures, and Portal Innovations
Company Website: https://cardiosense.com/
Software Category: Physiological Waveform AI Platform
About the Company: Cardiosense is building a physiological waveform AI platform to develop predictive biomarkers to detect and manage cardiac disease. The Company has developed a suite of novel digital tools, multi-sensor devices, and analysis algorithms to detect early signs of cardiovascular disease, inform personalized therapy, and improve patient outcomes. Earlier this year, Cardiosense was awarded FDA breakthrough device designation for its early heart failure detection algorithm.
Source: https://www.prnewswire.com/news-releases/cardiosense-inc-completes-15-1-million-series-a-financing-to-advance-artificial-intelligence-platform-for-heart-disease-301698419.html