Cardiomatics attracts new investors

Aug. 27th, 2021

The technology of measuring electrical heart function has come a long way – from 19th century capillary electrometers and galvanometers to today’s miniature electronic devices. The arithmetic processing of measurement data, which reveals the true waveform, has also evolved from manual calculations to specialized software. However, until recently, one element of electrocardiography remained constant – the final analysis and interpretation of the recording required human labor and experience. Today, this element of diagnostics is also being improved and automated, and one of the leading companies dealing with this issue is Cardiomatics, founded in 2017 by Rafal Samborski and Mariusz Mąsior, and a part of INNOventure investment portfolio since 2019. Through the use of artificial intelligence and cloud solutions, Cardiomatics significantly speeds up diagnostics, enables the analysis of very long ECG records, relieves the workload of specialists, and thus increases the availability of this test for patients.

Cardiomatics solutions are used in Germany, Denmark, Switzerland, Great Britain and Poland. The algorithms are developed in cooperation with the Medical University of Warsaw. Currently a version of the system designed for ECG examination of children is being developed. The company also cooperates with the University Hospital in Basel. Cardiomatics solutions are also used in research on cardiovascular aspects of Covid-19, conducted at Herlev and Gentofte Hospital in Denmark. In total, the system is used in more than 700 medical facilities and has enabled the diagnosis of tens of thousands of patients.

The company has just obtained PLN 12.5 million of financing. PLN 4 million comes from the National Centre for Research and Development. The remaining PLN 8.5 million comes from a seed round. The main investor is the Czech fund KAYA VC, a subsidiary of Enern group. The fund already has in its investment portfolio, among others, Czech unicorn Rohlik and DocPlanner and Booksy, which belong to the highest valued Polish startups. Other investors are: Spanish fund Nina Capital, specializing in medical companies, Polish Innovation Nest, specialized with companies operating in the software sector, and Italian fund Nova Capital.