Idoven, a Madrid, Spain-based health tech company advancing early detection and precision medicine for cardiovascular diseases, raised $19.8m in funding.
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 intends to use the funds to further develop its AI platform to identify arrhythmias and cardiac abnormalities, as well as accelerate hiring to advance early diagnosis and precision medicine of cardiovascular diseases.
Led by CEO Dr. Marina Manuel Breysse, Idoven is a health technology company for cardiovascular diseases. Its AI-powered platform, Willem, delivers substantial improvements to the speed, consistency and accuracy of electrocardiogram (ECG) interpretation and prediction. The proprietary AI algorithms, which work with existing ECG devices, are also being applied to develop disease biomarkers towards patient identification, risk stratification and prognosis, as well as drug cardiac safety monitoring.
The solution is cloud-based and hardware-agnostic, able to analyse ECGs of any duration and from any device, and is made available to customers via API. Idoven’s technology is hardware agnostic. This ensures that algorithms are trained on the most complete database of signals, from 1-lead smartwatch ECGs to 12-lead hospital ECGs and long-duration ambulatory ECGs.