Funding of $19.8 million was raised by Idoven, a Madrid-based tech company that specializes in precision medicine and early detection for cardiovascular 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 to use the funds for further development of its AI platform to detect arrhythmias, cardiac abnormalities, and accelerate hiring to advance precision medicine and early diagnosis of cardiovascular diseases.
Led by CEO Dr. Marina Manuel Breysse, Idoven is a health technology company for cardiovascular diseases. Willem, an AI-powered platform that Idoven has developed, offers significant improvements in the speed, consistency, and accuracy of ECG interpretation and prediction. These AI algorithms work with existing ECG devices and are being used to create disease biomarkers for patient identification, risk stratification, prognosis and drug safety monitoring.
The solution is cloud-based and hardware independent, able analyse ECGs at any time and from any device. Customers can access it via API. Idoven’s technology is hardware agnostic. This allows algorithms to be trained from the largest possible range of signals, including 1-lead smartwatch ECGs, 12-lead hospital ECGs, and long-duration ECGs for ambulatory use.