Idoven continues to drive early detection of cardiovascular disease, thanks to the recent closure of a new investment round worth of €18.5 million. The objective: revolutionize cardiovascular diagnostics with its Artificial Intelligence platform.
The financing consisted of a Series A round of €12 million co-led by the global software investment fund Insight Partners, which has companies like Twitter, Calm or Trivago in its portfolio; and by Northzone, known among other investments for being one of the first investors of Spotify and Spring Health. The round has had the participation of Wayra, Telefónica’s innovation hub.
Existing Idoven business angels have also participated, such as Iker Casillas and the former top executives at Apple and Amazon, Diego Piacentini and Sebastian Gunningham. This round is complemented by 6.5 million euros in grants and capital granted by the prestigious EIC Accelerator program of the European Innovation Council.
Idoven will allocate this new funding to continue the development of its Artificial Intelligence platform with the aim of identifying arrhythmias and cardiac anomalies, as well as to accelerate the hiring of the best talent in order to advance its mission of early diagnosis and precision medicine. of cardiovascular diseases globally.
In this sense, the cardiovascular diseases are today the leading cause of death in the world and represent an economic cost of 9,000 million euros a year throughout Spain, which translates into 7% of national health spending, according to data from the Spanish Heart Foundation (FEC). An amount that rises to 192,000 million in the whole of the European Union (EU). For this reason, the technology developed by Idoven represents an advance and an opportunity to improve the management of this challenge at a global level thanks to the substantial improvements in the speed, consistency, precision and prediction of the interpretation of electrocardiograms (ECG) of any duration that offers this artificial intelligence platform.
Dr. Manuel Marina Breysse, cardiologist, co-founder and CEO of Idoven, has stated that: “Our AI software has been learning cardiology for years from more than 49,000 patients, and today it helps diagnose heart disease anywhere, anytime, dramatically increasing the ability to identify people who need care. Our vision is to transform the way cardiovascular diseases are detected, and to generate a global impact that helps thousands of doctors and millions of patients around the world.”
The AI that saved Casillas’ life
Idoven’s software, through a cloud-based solution, already identifies 86 electrical alterations of the heart, which represent 90% of the most common heart problems. In addition, Idoven continues to build its platform hosting one of the world’s largest ECG databases for AI development through collaboration with world-class research institutions, such as the pan-European MAESTRIA consortium involving collaboration with 17 leading research centers in Europe and the United States financed with 14 million euros from the prestigious Horizon 2020 funds.
For his part, Iker Casillas, deputy director general of the Fundación R. Madrid and ambassador to the United Nations, refers to Idoven as “the artificial intelligence that has saved my life.” After suffering a heart attack during training at the age of 38, Casillas and his foundation have partnered with Idoven to promote the early detection and intervention of cardiovascular diseases, especially among the most vulnerable groups, such as Children with Down syndrome and patients with congenital heart disease or at high risk of sudden cardiac death.
Scott Barclay, a partner at Insight Partners responsible for healthcare investments, said: “The future of medicine requires deeply validated artificial intelligence that is deployed through an API to help clinicians, and this is especially important in cardiology, given the importance of heart health and the rise of monitoring technology. . Idoven has an opportunity to improve healthcare and save lives, at scale. This is the essence of the kind of software-driven technology and empathy that Insight looks for in early healthcare investments.”.
