Ultromics, an AI-enabled cardiovascular imaging solutions provider, raised $33 million in a Series B funding round. The Blue Venture Fund led the round with Optum Ventures, GV, and existing investor Oxford Sciences Innovation.
The company said the latest funding would accelerate its use of AI-enabled echocardiograms to improve patient outcomes.
According to the data by the company, cardiovascular disease is the leading cause of mortality in the world, with an estimated 17 million deaths each year. “Echocardiograms uploaded to the cloud and analyzed by artificial intelligence are set to revolutionize cardiac disease treatment pathways by helping more people understand their risk of heart disease earlier and with greater accuracy,” said Ross Upton, CEO, and co-founder of Ultromics.
Ross Upton added: “This funding with leading U.S.-affiliated venture capital funds will allow Ultromics to dramatically accelerate the use of AI-enhanced Echo into studies that currently use more expensive and less accurate imaging techniques.”
Founded in 2017, Ultromics offers two core software platforms, EchoGo Core and EchoGo Pro. The platforms will quickly deliver highly accurate assessments of heart function that support the diagnosis of coronary artery disease, heart failure, and amyloidosis, the company said.
EchoGo Core and EchoGo Pro are used by several organizations, including Mayo Clinic and the Oregon Health and Science University.
“Cardiovascular disease is the leading cause of morbidity and mortality in the United States, and Ultromics offers groundbreaking AI solutions for more accurate diagnosis,” said Dr. Emir Sandhu, Managing Director at the Blue Venture Fund.
“Ultromics’ software significantly improves the ability of clinicians to leverage low-cost ultrasound imaging to address cardiovascular disease, one of the greatest healthcare burdens of our generation,” said Dr. Vijay Barathan from Optum Ventures.
Ross Upton added: “This Series B funding round will propel our company forward to a place that transforms disease pathways and saves more lives.”
Medical Imaging companies raised $86 million in the first half of 2021. Recently, Aidoc, an AI-powered medical imaging company, announced a $66 million investment round, bringing its total funding to $140 million.