Investment to fuel the expansion of commercial efforts and validate tech-enabled offerings through additional clinical studies.
Health technology company CardioSignal has successfully raised $10 million in Series A funding, bringing its total funding to $23 million. The funding round was led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc. Dr. David J. Kim, managing director of DigiTx, is set to join CardioSignal’s board of directors.
Revolutionizing Heart Disease Detection
CardioSignal employs gyroscope and accelerometer motion data from smartphone sensors to analyze precordial micro-vibrations caused by cardiac motion. Placing the smartphone on a patient’s chest for one minute allows for the analysis of digital cardiac biomarkers. The collected data is then processed in the cloud using machine learning, providing results within one minute.
The newly acquired funds will be allocated towards conducting additional clinical studies to further validate the technology and expand the company’s commercial endeavors.
Dr. Juuso Blomster, CEO and founder of CardioSignal, expressed the company’s mission, stating, “CardioSignal is dedicated to bringing accessible early detection of heart diseases to healthcare professionals and their patients by leveraging motion sensors in smartphones. The raised funding will facilitate the launch of our new capability—detection of heart failure—and the completion of clinical validation in the detection of aortic stenosis. We are initially targeting European markets, followed by the United States.”
Advancements and Collaborations
Embedded sensors within smartphone technology, coupled with data transfer capabilities, have been identified by researchers as instrumental in noninvasive health monitoring, reducing personal healthcare-related expenses.
CardioSignal, a product of Turku-based Precordior founded in 2016, initially began as a smartphone app designed to detect atrial fibrillation. In 2019, Novartis entered into a partnership with Precordior to further develop smartphone-enabled heart disease-detection technology, specifically for detecting heart failure.
The company’s technology has since played a significant role in numerous research studies, leading to partnerships with industry giants such as Boehringer Ingelheim and Roche Diagnostics. In 2020, CardioSignal secured €2 million ($2.17 million) in funding, followed by an additional €2 million the following year.
CardioSignal is poised to continue its trajectory of innovation, with the latest funding injection driving advancements in heart disease detection and expanding its global market presence.
