Powerful Medical
28. September 2022

Powerful Medical raises 6.2 million EUR in Seed funding

We’re proud to announce that we’ve just raised €6.2 million in our Seed funding round, marking a significant milestone in Powerful Medical’s journey. We’re immensely grateful to our investors – Venture To Future Fund (VFF), CB ESPRI Impact One, bpd partners, and several angel investors – for putting their faith in us as a company and in our vision of revolutionizing cardiovascular care.

The use of artificial intelligence in medicine is only in its infancy, and we’re excited to be pioneering this field. In order to keep innovating and pushing the boundaries of MedTech, we knew we needed to partner up with enlightened investors who fully understand the potential of artificial intelligence and machine learning in the medical industry.

We’ve found strong partners in our new investors and are excited to welcome them on board.

Their funds will help us further our company vision and set us on a journey to strengthen our market potential, expand globally, and monetize PMcardio – our flagship, AI-powered medical solution for interpreting ECGs and precisely diagnosing cardiovascular diseases.

What we’ve achieved so far

Before we talk about the future, let us summarize what we’ve achieved so far:

Received the top-notch certifications

PMcardio is the world’s first CE-certified AI-powered platform for diagnosing and treating cardiovascular diseases. Our entire team worked tirelessly for the past year to get our product officially certified by TÜV SÜD, one of the world’s most trusted product certification companies, ensuring the highest level of performance and safety.

We became an ISO 13485 certified medical device manufacturer for AI-powered diagnostics and treatment, and successfully certified PMcardio as a Class IIb Medical Device under the EU Medical Device Regulation 745/2017 (MDR).

The photoghraph of the five co-founders of Powerful Medical

Launched Early Access Program

Even though PMcardio will be officially introduced on the market at the beginning of 2023, our educational app, PMcardio-edu, has already sparked a massive interest among healthcare professionals.

Before the official roll-out of our certified version 2.5, we introduced an exclusive Early Access Program. Medical professionals worldwide can sign up and be among the first to use PMcardio, secure a reduced price (yearly 50% discount), and have exclusive access to our webinars and networking events.

Perfected our AI

On the backend, PMcardio is powered by our proprietary Cardio AI Cloud that is trained on over a million ECG records.

When it comes to saving lives, speed matters – that’s why our AI Team worked around the clock over the past months, improving not only the diagnostic performance of our Cardio AI Cloud but also notably speeding up our algorithms – providing lifesaving diagnostics in less than a heartbeat.

Our AI-based predictions were benchmarked against prospectively annotated interpretations of 15 physicians representing the current state-of-the-art ECG diagnostics. Our Cardio AI Cloud outperformed primary care physicians on all seven evaluated metrics, demonstrating an overall statistically significant diagnostic superiority.

An image of 6 graphs showcasing PMcardio's diagnostic performance compared to cardiologists and general practitioners

PMcardio can now accurately detect 38 cardiac diagnoses from a single ECG input.

The app also provides precise, guideline-adherent treatment recommendations that help physicians make immediate medical decisions and correctly refer patients to secondary care.

Hired a world-class team

We wouldn’t have been able to grow as much if it wasn’t for the amazing team of people we’ve built (and are still building!).

Our team is currently 50+ strong and consists of physicians, data scientists, AI experts, software engineers, and other world-class professionals at the top of their respective fields.

Powerful Medical is backed by 28 high-profile cardiologists led by our expert Scientific Board, including experts such as Dr. Leor Perl, Prof. Dr. Robert Hatala, PhD, or Dr. Jozef Bartunek, PhD.

What’s ahead of us

Currently, our teams are working diligently towards completing the 2.5 version of our PMcardio app.

Our team is also working hard on new research that will allow doctors to predict the risk of death and evaluate the most effective treatment process for patients with heart failure. Heart failure is a great threat, especially among the aging population. Often caused by myocardial infarction, it represents one of the biggest challenges in cardiology.

With regards to patients with myocardial infarction, PMcardio will not only detect whether a patient has a heart attack but also which artery causes it and what the patient’s prognosis is. “We’re also working on algorithms that will be able to predict a patient’s probability of developing a heart attack ahead of time from a single ECG input,” says our co-founder and Chief Medical Officer Robert Herman.

And our journey doesn’t stop there. In the near future, we’re planning to gradually roll out our solution across European markets before securing FDA approval and expanding to the US.

To conclude

Cardiovascular diseases are the leading cause of death worldwide. This is why we’ll keep pushing the boundaries to assist medical professionals on the path to saving lives. We would like to express our deepest gratitude to all our investors and the entire Powerful Medical team for being part of our journey.

Powerful Medical raises 6.2 million EUR in Seed funding
Powerful Medical raises 6.2 million EUR in Seed funding

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Powerful Medical

Powerful Medical leads one of the most important shifts in modern medicine by augmenting human-made clinical decisions with artificial intelligence. Our primary focus is on cardiovascular diseases, the world’s leading cause of death.
Powerful Medical leads one of the most important shifts in modern medicine by augmenting human-made clinical decisions with artificial intelligence. Our primary focus is on cardiovascular diseases, the world’s leading cause of death.
About PMcardio:

PMcardio is the market leader in AI-powered diagnostics, addressing the world’s leading cause of death – cardiovascular diseases. The innovative clinical assistant empowers healthcare professionals to detect up to 40 cardiovascular diseases. In the form of a smartphone application, the certified Class IIb medical device interprets any 12-lead ECG image in under 5 seconds to provide accurate diagnoses and individualized treatment recommendations tailored to each patient.

About Powerful Medical:

Established in 2017, Powerful Medical has embarked on a mission to revolutionize the diagnosis and treatment of cardiovascular diseases. We are a medical company backed by 28 world-class cardiologists and led by our expert Scientific Board with decades of experience in daily patient care, clinical research, and medical devices. The results of our research are implemented, developed, certified, and brought to market by our 50+ strong interdisciplinary team of physicians, data scientists, AI experts, software engineers, regulatory specialists, and commercial teams.

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