CardioSignal raises €2.2 million in seed round to enable unmatched accessibility in heart disease detection using smartphone technology
CardioSignal is developing a disruptive mobile application-based technology to improve the detection of heart disease. CardioSignal is a brand and a product by Precordior, a Finnish health technology company. Utilizing sensitive motion sensors in modern smartphones, the CardioSignal application detects heart motion with high accuracy.
Heart disease is the number one killer in the world, and the prevalence of heart conditions such as atrial fibrillation is rising. However, there are currently no scalable ways to screen for these conditions in a way that would be accessible to the individual. This is placing a growing burden on healthcare systems globally, costing the EU economy alone over €210 billion a year. New approaches are needed to enable early intervention and improved outcomes for individuals.
CardioSignal’s first proof-of-concept for accurate heart disease detection is atrial fibrillation. In clinical testing, the technology was found to have 96% accuracy. At this level of quality, the burden of false positives is extremely small in two consecutive measurements. False positives have been a challenge for many wearable digital solutions, such as wrist devices.
“Opportunities to deliver healthcare digitally are expanding rapidly, and the progress is especially fast in cardiology. What makes our position unique in this market is our capability to harness an everyday device, a smartphone, to accurately detect severe heart disease. This type of accessibility can shift the focus from treating complications and end-stage disease to prevention, early detection, and improved outcomes. I am very excited to welcome new investors on this journey,” says Juuso Blomster, cardiologist and CEO of CardioSignal.
Backed by a decade of research and algorithm development, CardioSignal has already introduced the application as a CE-certified class IIa medical device in Europe. With plans to expand to other types of heart disease and other market areas, primarily the United States, the company’s funding round was led by Maki.vc, with participation from a syndicate of private investors in Silicon Valley, Cardio by Design LLC (USA).
“Detecting serious heart issues early can save lives. The CardioSignal solution and the company’s focus on scientific research and collaboration with several universities have impressed us. They are well positioned to fundamentally change the way heart disease is diagnosed,” says Ilkka Kivimäki, founding partner at Maki.vc.
“Our phone is not just a device that we use; it has become a place where we live our lives. So why wouldn't it help us to prevent serious illness, live healthier, even save lives? Building a world-class product with a top-notch user and customer experience is key in growing this app to its full potential. We formed Cardio by Design LLC with the purpose of operationally supporting CardioSignal in building a successful entry to the United States, and to provide access to networks that boost global growth,” says startup advocate Risto Lähdesmäki, who heads the syndicate of US investors from San Francisco and who joined as an executive board member of CardioSignal
About CardioSignal
Developing a mobile application for heart disease detection. Currently, the application detects atrial fibrillation.
CE-certified class IIa medical device in Europe.
Several innovations in heart-motion monitoring methods, with more than 30 patents in this area.
Originally an academic spinoff from the University of Turku.
Headquarters: Turku, Finland.
The CardioSignal application is supported by the EU with €2M in funding (Horizon 2020 SME Instrument Phase 2) in support of innovative small and medium-sized companies.
More information: www.cardiosignal.com.
Further information
Juuso Blomster, CEO, juuso.blomster@cardiosignal.com
Juulia Simonen (Communications) juulia.simonen@cardiosignal.com, tel. +358503059018
About CardioSignal
We develop groundbreaking solutions for the detection of heart diseases. CardioSignal is a mobile application and a certified medical device for the detection of atrial fibrillation. Originally an academic spinoff, the company’s patented technology is built on a decade of research and algorithm development. CardioSignal is a brand and a product by Precordior. www.cardiosignal.com
