Ultromics—a medical firm that develops AI tech focused on diagnosing cardiac issues—announced $55 million in raised funds on Thursday, as per an official press release by the company.
Part of a Series C financing, the round was led by the following partners: L&G, Allegis Capital, and LightRock, coupled with support from Oxford Science Enterprises, GV, Blue Venture Fund, and Oxford University.
Ultromics says its tool can diagnose two forms of heart failure
Based on years of clinical study and a dataset of hundreds of thousands of data scans, Ultromics’ AI diagnostic tool can help clinicians discover cardiac conditions such as HFpEF and cardiac amyloidosis, two forms of heart failure recognised as being particularly hard to diagnose among medical professionals.
“The reality is, hospitals already have the data, they just haven’t had the tools to extract the more subtle diagnostic signals from it. By analyzing routine echocardiograms with AI, we’re helping clinicians identify high-risk patients earlier, enabling intervention before disease progresses,” said Ultromics CEO and founder Ross Upton.
“We’ve spent years building our platform to fit into clinical workflows, with no extra hardware and no new friction, he also added.
The medical innovation is called the EchoGo platform. The company says the product is FDA-approved, covered by Medicare, and is currently live in key U.S. hospitals. As a company, Ultromics traces its roots to the University of Oxford. The firm has previously collaborated with the NHS and the Mayo Clinic.
Other recent instances of AI-focused firms securing money to develop their products include LegalOn, which raised $50 million in a Series E funding round.