Announcing Seed Funding Round
October 3, 2023 — Funding
UMC Utrecht spin-out Cordys Analytics secures investment for further development of AI-powered software platform for early and improved detection of heart disease
UTRECHT, Netherlands – LUMO Labs, ROM Utrecht Region and Utrecht Health Seed Fund are investing 900,000 euros in Cordys Analytics. The startup is a Dutch healthtech spin-out from the University Medical Center Utrecht (UMCU) and incubated at UtrechtInc.
Cordys Analytics’ AI-powered software platform for electrocardiogram analysis (AI-ECG software) offers a new and innovative solution to detect heart disease earlier and more accurately. By harnessing the power of advanced deep-learning techniques, this software identifies subtle patterns and abnormalities in ECG data that traditional diagnostic methods often miss.
The software supports healthcare professionals in making informed decisions and minimising hospitalizations and complications associated with untreated heart conditions. The vendor-agnostic software seamlessly connects various healthcare organisations and ECG devices, making it a versatile tool for healthcare professionals working in different clinical settings and regions across the globe.
Its cloud-based architecture provides operational benefits, such as real-time data analysis, remote accessibility and scalability. The proprietary interface makes it user-friendly.
"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," said Cordys Analytics CEO John van den Berg. "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."
“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,” said 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 our investment focus perfectly.”
"At ROM Utrecht Region we strongly believe in the potential impact of the algorithms developed by Cordys Analytics," said Adinda Woelderink, Investment Manager of 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."
“We are excited to invest in Cordys Analytics and team towards redefining the way ECG analysis and processing is done,” said Timo Koopmans, Investment Manager of Utrecht Health Seed Fund. “The team is well positioned to bring its technology to market so patients and healthcare providers alike can benefit.”
About Cordys Analytics
Cordys Analytics is a Dutch healthtech start-up that specialises in developing AI-powered software for analysing electrocardiograms (ECGs). The company originates as a spin-out from the University Medical Center Utrecht (UMCU) through researchers and co-founders René van Es and Rutger van de Leur and focuses on the use of advanced deep learning techniques to provide valuable new insights to healthcare professionals in making informed decisions. In 2023 Cordys Analytics entered into a long-term collaboration agreement with the UMCU, strengthening its ties with the institution where it originated. In that same year it became a member of the incubator community UtrechtInc where it has its offices.
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