Cordio Medical, a medical speech processing platform, has secured $18 million in a strategic investment round led by Ceros Financial Services and Peregrine Ventures.
Cordio Medical’s HearO product converts a smartphone into a medical-grade device. The smartphone app is backed by sophisticated and proprietary algorithms allowing monitoring and early detection of fluid accumulation related to Congestive Heart Failure (CHF) condition deterioration. After a speech sample is collected from the patient’s mobile device, the HearO cloud-based server analyses the results. If CHF deterioration is discovered, a healthcare professional immediately notifies the patient with an alert.
Ceros Capital Markets, the investment banking division of Ceros Financial Services that focuses on fundraising for early-stage medical technology companies, and Peregrine Ventures, Israel’s first dedicated healthcare fund, led the latest funding to support a clinical validation study, health and academic partnerships, and sales team recruitment. The ongoing retail and distribution (R&D) of current and future versions of HearO® and clinical operations will be in Israel and the EU.
