Utrecht-based Cordys Analytics, a healthtech spin-off from the University Medical Center Utrecht (UMCU), announced on Tuesday that it has secured €900K from LUMO Labs, Utrecht Region, and Utrecht Health Seed Fund.
“We are thrilled to have these investors on board. By joining their networks, we are well positioned to further expand our software platform and make it essential for clinical use,” says John van den Berg, CEO of Cordys Analytics.
“Through our research collaboration with the UMCU, we will develop and refine AI-ECG algorithms and software and integrate our diagnostic services into the workflow of doctors and other healthcare professionals,” adds van den Berg.
Cordys Analytics: Improving early detection of heart disease
Founded in 2022, Cordys Analytics specialises in AI-powered software to analyse electrocardiograms (ECGs).
The platform detects heart disease earlier and more accurately by leveraging the power of advanced deep-learning techniques. The software identifies subtle patterns and abnormalities in ECG data that traditional diagnostic methods often miss.
It helps healthcare professionals make informed decisions, reducing hospitalisations and complications from untreated heart conditions.
The software is vendor-agnostic and can be integrated with various healthcare organisations and ECG devices, making it versatile for healthcare professionals working in different clinical settings and regions globally.
LUMO Labs focuses on impact-driven software and smart hardware startups in Artificial Intelligence/Data, Blockchain, Internet of Things, Robotics and Drones, and Virtual Reality/Augmented Reality.
The current LUMO Fund II is an impact-driven multi-stage capital fund (pre-seed up to and including series A).
It includes a two-year venture builder programme to support its portfolio companies in gaining financial success as well as social traction and impact.
“Integrating the unequalled potential of AI in healthcare for early detection and prevention not only has a tremendous impact on the quality of life of individual patients, but it also contributes to a more sustainable, affordable healthcare system,” says Andy Lürling,Founding Partner at LUMO Labs.
“Cordys’ software has these qualities and – because it is vendor-agnostic – these benefits can scale wide and far. This fits LUMO Labs’ investment focus perfectly,” adds Lürling.
“At ROM Utrecht Region we strongly believe in the potential impact of the algorithms developed by Cordys Analytics,” says Adinda Woelderink, Investment Manager for ROM Utrecht Region.
“The amount of data generated within cardiology offers a unique opportunity for AI-powered ECG analysis to be supportive in workflows and optimised detection of ECG abnormalities,” adds Woelderink.