Personal MedSystems GmbH, a Berlin, Germany-based developer of products and services for mHealth cardiac care, raised €5m in Series B financing.
Backers included new investors KPN ventures, Sino German High-Tech Fund and NRW.Bank, which adds to existing investors seventure, the KfW banking group and High-Tech Gründerfonds (HTGF).
The company, which expects to raise further €0.7m from existing investors, intends to use the funds for sales growth and continued innovation on its technology and data platform.
Founded in 2008 by Dr. Markus Riemenschneider and Felix Brand, Personal MedSystems, known under its brand CardioSecur®, offers mHealth services and products for people with cardiac symptoms, while at the same time building a smart data platform for predictive values.
CardioSecur® currently offers an instant cardiac monitoring service for private use. It is a smartphone-based, personalized ECG device of high clinical-grade quality (15-lead ECG).
When logged into the app, the user receives a recommendation on what to do next in less than a minute, and also has the option of sharing ECG data with his or her personal physician for further use.