Idoven Raises $19.8M in Funding

idoven

Idoven$19.8m was raised for a Madrid, Spain-based company that develops precision medicine for heart disease.

The funding consists of a $12.9m Series A round co-led by global software investor Insight Partners and Northzone with participation from Wayra. The round is also supplemented by $6.9m in grant and equity funding awarded by the European Innovation Council (EIC) Accelerator. A prominent list of angel investors joined the round, including Ron Vianu, Founder and CEO of Covera Health; Brad Fluegel, Former SVP, Chief Healthcare Commercial Officer and Strategy Officer at Walgreens; and Vlad Lata, Founder and CEO of Avi Medical,  among others. The round was also joined by existing angels, including Iker Casillas, captain of Spain’s World Cup-winning football team and UNDP ambassador, and former senior executives from Amazon and Apple, Diego Piacentini and Sebastian Gunningham. This round follows a $2m seed round raised 12 months ago from business angels, Wayra and the Accel Starter program.

The company plans on using the funds to develop its AI platform for diagnosing arrhythmias or other cardiac abnormalities. It also intends to accelerate hiring in order to improve early diagnosis and precision medicine for cardiovascular diseases.

Led by CEO Dr. Marina Manuel Breysse, Idoven is a health technology company for cardiovascular diseases. Willem is an AI-powered platform which delivers significant improvements in speed, consistency, accuracy, and predictability of electrocardiogram (ECG), interpretation and prediction. The AI algorithms are compatible with existing ECGs and can be used to identify, stratify, and predict disease.

The cloud-based, hardware-agnostic solution can analyse ECGs from any length and from any device. It is also made available via API to customers. Idoven’s technology is hardware agnostic. This means that algorithms are trained using the most comprehensive database of signals from 1-lead smartwatches to 12-lead hospitals ECGs and long duration ambulatory ECGs.

FinSMEs

23/06/2022

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