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Cardiomo Care

Wearable real-time cardiac monitor with AI engine

USA, California
Market: Medicine
Stage of the project: Operating business

Date of last change: 11/01/2019
Min investment
$  200.000
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Total required
$ 2.500.000
Rating
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Idea

Cardiomo provides a revolutionary 'continuous' cardiac monitoring wearable that tracks vital signs (ECG, heart rate, breath rate, skin temperature) using new generation bio sensors and AI to detect cardiac events with 99.63% accuracy, and provide early life-saving alerts.

Current Status

Paying customers (550)
Pilots - Luz Saude (Portugal), ArcelorMittal (Kazakhstan), Heart Center, Dobrobut (Ukraine) 2018
Partnership - Telefonica (Germany) 2018
Mass production of devices
Android and iOS apps are officially out
Professional dashboard for healthcare practitioners is created
Professional dashboard for enterprise is created
Report for doctors is created
Team completed
Investment $750,000

Market

Our market approach is mix of B2B and B2B2C, directly to the medical providers, and to end-users through channels such as Insurers, Telcos and Pharmacies.

Problem or Opportunity

As the global CVD death toll is 17 million people annually and keeps growing, early detection could save millions of lives.
The major problem with CVD detection is that 73% of people with cardiovascular diseases fail to notice or neglect early symptoms of their disease, hence turning to doctors too late or not at all.

Solution (product or service)

Our product is a waterproof wearable patch, which is suitable for long periods of wearing with a battery lasting for 10 days.  The data is channelled via a proprietary mobile app to a secure cloud and is analyzed using AI engine trained on existing and ever-growing data sets to enable early warning for heart diseases.

Competitors

These are our competitors: VitalConnect https://vitalconnect.com
iRhythm http://irhythmtech.com
AliveCor https://www.alivecor.com

Advantages or differentiators

We are uniquely positioned to enable preventive care, continuous cardiac monitoring. Most solutions available today are offline or short period or complicated or if on-line can measure 20% of vitals and not medical grade.
Advantages:
1. Smart decision for doctors - event annotations for faster diagnosis
2. Preventive care for patient - live cardiac monitoring over longer periods
3. Event prediction - detect likely medically actionable events before they occur
4. Patch is reusable - single patch can be reused again or by multiple patients
5. Battery life - 10 days rechargeable battery
6. Medical Grade data that is usable by the doctors

Business model

Revenue streams
Healthcare Providers (B2B – hospitals, caregivers)
Health Insurers (B2B – private, employees)
Sport & Geriatric (B2B2C – specialized retail chains)

Money will be spent on

Uses: FDA 501K and CE Mark approval, Serial Manufacturing, Growing the Team, and Market Entry.

Team or Management

Incubation/Acceleration programs accomplishment

Starta Accelerator, 2016 (USA, New York)
Vienna Business Agency, 2017, (Austria)
Protechting, 2018 (Portugal)
Plug and Play Health Program, 2018 (USA, Sunnyvale)

Won the competition and other awards


1. CES 2017, exhibitor
2. CES 2018, exhibitor
3. Finalist of HackOsaka 2017 innovation conference, Japan
4. Wearable Technologies Show, 2017 (London, the UK) Highly Commended in Digital Health Technology Nomination
5. 7 Top Health Startups at Pioneers Festival, 2017 Austria
6. 50 Top Startups at Cube Fair Tech, 2017 Germany
7. 5 Top Startups in Preventive Medicine & Digital Patient Pathways at Health.Pioneers, 2017, Netherlands
8. Special American Business Internship Training Program by Department of Commerce, USA, 2017
9. Winner of TechCrunch Meet up 2017, Poland
10. finalist of Falling Walls, 2017 (Ukraine)
11. Grant from BNP Paribas, 2017 (Ukraine)
12. Winner of Engineering Startup Competition, 2017, grant from Noosphere Ventures (Ukraine)
13. Winner of Techstars pitch competition at CES 2018 (USA)
14. HIMSS AND HEALTH 2.0 EUROPEAN CONFERENCE, speaker, Session: Turning Citizens Into Health Consumers, 2018, Sitges, Barcelona

15. Finalist of The American Heart Association HEALTH TECH COMPETITION, 2018, Chicago (USA) (https://heartpitch.org)
16. Woman of the Year 2018 in Ukraine, Business Startup Nomination
17. grant from CRDF Global - winner of CRDF Global Bootcamp, 2018 (Ukraine)
18. winner of 2018 Global Startup Competition by Brinc, (San Francisco, USA)
19. The Medical Innovation Summit, 2018, top startups, Cleveland, USA

20. Shortlisted for the Top 10 CEO in Healthcare at Healthcare Technology Conference, 2018 (Las Vegas, USA)
21. Winner of the CBRN CoE Pilot Competition and grant for the SEEE region, 2019, Belgium http://cbrn-coe-compet.org
22. TNW Conference 2019, five best companies in the Health & Wellness, Netherlands
23. Health Hub Vienna Selection Day, 2019 (Austria)
24. Future Healthcare Conference 2019, (UK), Innovator
25. HIMSS AND HEALTH 2.0 EUROPEAN CONFERENCE, speaker, HEALTH 2.0 SHOWCASE: AI SOLUTIONS FOR PROVIDERS, HELSINKI, FINLAND, 2019
26. Winner of IOT/WT Innovation World Cup® Innovators at IWC Series @ WT | Wearable Technologies Conference 2019, San Francisco USA
27. a finalist for The Women-in-Tech Awards 2019 in the US, Manufacturing and IoT nomination, Chicago
28. finalist of Women Startup Challenge Europe HealthTech, 2019, https://www.womenwhotech.com

29. Top15 Finalists for the 8th MEDICA App COMPETITION, powered by BayerG4A and Roche Diagnostics https://www.medica-tradefair.com/en/Forums_Conferences/Forums/MEDICA_CONNECTED_HEALTHCARE_FORUM/MEDICA_App_COMPETITION
30. MEDICA CONNECTED HEALTHCARE FORUM in section DIGITAL PREVENTION – From chronic disease management to wellness solutions 
https://events.medica.de/en/event/mchf-digital-prevention-reducing-chronic-diseases-to-wellness

Invention/Patent

registered trade mark (USA, Europe, China, Ukraine)
provisional patents (USA)

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Photo 1 - Cardiomo Care

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address