AlgoDx, a Stockholm, Sweden-based company which focuses on supporting disease detection and prediction with machine learning algorithms, closed a 6 MSEK (€600k) seed funding.
The round was led by Nascent Invest with participation from angel investors Fredrik Sjödin and Tomas Mora-Morrison, co-founder of Cambio Healthcare Systems. In conjunction with the funding, Tomas Mora-Morrison, will also chair the company’s new Board.
Founded in 2018 and led by David Becedas, CEO, AlgoDx has recently launched its first product, ExPRESS, which has been developed to autonomously predict sepsis in hospitalized patients using data from electronic healthcare records.
The company intends to use the new funds to further scale the clinical validation of ExPRESS to demonstrate the benefits of autonomous sepsis risk monitoring in patients being treated at Intensive Care Units. AlgoDx is associated with Uppsala University.