Finnish healthtech startup CardioSignal raises $10m Series A funding to detect major heart diseases without specialized medical hardware

Finnish healthtech startup CardioSignal raises $10m Series A funding to detect major heart diseases without specialized medical hardware

Published: 24-01-2024 12:13:00 | By: Pie Kamau | hits: 2278 | Tags:

Healthtech company CardioSignal, has announced the closing of $10 million in Series A funding, led by DigiTx Partners, with participation from Sandwater and existing investor David J. Kim, 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. 

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. The analysis takes place utilizing a smartphone placed on the patient’s chest for a one-minute measurement. A clinically validated algorithm analyzes the motion data in a secure cloud service and provides immediate results. 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. 

Juuso Blomster, Founder and CEO, CardioSignal: ''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.''

Currently, CardioSignal’s technology produces digital biomarkers validated in clinical studies for Atrial fibrillation (A-fib) and Heart failure, with additional development ongoing for Aortic stenosis, Coronary artery disease, and Pulmonary artery hypertension. The CardioSignal application is already available in 15 countries as a class IIa medical device for detecting signs of Atrial fibrillation.

The societal impact of the technology is accelerating heart disease detection for millions who are currently underdiagnosed or at risk of developing a serious condition. The ability to access care through smartphones solves critical issues in healthcare reach. Healthcare inequities is a major reason why cardiovascular diseases are the #1 killer in the world.

David J. Kim, Managing Director, DigiTx Partners: ''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.''