DiACardio raises $1.95 mln in post-seed funding

Israeli-based DiACardio raised $1.95 million in a post-seed financing round led by China’s Shengjing Group. Other investors in the round include CE Ventures and AltaIR as well as existing backers Agate-Mac Fund and Capital Point Ltd. DiACardio offers software that automates the process of evaluating ultrasounds of the heart, also known as echocardiograms.

PRESS RELEASE

Beer Sheva, Israel – DiACardio, a software company that fully automates the process of evaluating the “Ultrasound of the Heart”, announced today it has raised $1.95 million in a post seed financing round led by Shengjing Group.

Among the leading investors are new investors CE Ventures and AltaIR, as well as existing investors including Agate-Mac Fund and Capital Point Ltd. This investment will enable the Company to expand its automated toolbox to other areas of the heart that need automation and expand their business in the US, Europe and the emerging markets.

DiACardio, a software company, has revolutionized the practice of the “Ultrasound of the Heart” evaluation. Based on a new image processing method the company invented, unique and innovative algorithms evaluate the function of the heart fast, accurately and automatically. The software is FDA and CE approved and initial sales have been successfully obtained.

The Company won 1st place at the Shengjing Global Innovation Awards 2015, winning $200K, and 1st place at the ICI Awards 2015 for innovation in Cardiology.

The Company started as an incubator company in 2010, by 5 founders:

Arnon Toussia-Cohen, Chairman: Former CEO of RADCOM (NASDAQ: RDCM) and successful serial entrepreneur. Brings to DiACardio three decades of experience in management, marketing, R&D and business creation.

Hila Goldman-Aslan, CEO: Following years of leading High-Tech companies with a focus on MedTech, Hila joined DiACardio as a Co-Founder and CEO and brings to DiACardio experience in management, business development, fundraising and start-up company leadership.

Michal Yaacobi, Inventor & Director of R&D: Brings to DiACardio a strong clinical background together with expertise in ultrasound image processing and algorithm development. M.Sc. in Biomedical-Engineering.

Dr. Noah Liel-Cohen M.D., Inventor: Head of the Echocardiography Unit at Soroka University Medical Center in Beer Sheva. Research specialties include evaluation and quantification of left ventricular function, mitral valve structure and function. Involved in multiple clinical trials.

Prof. Hugo Guterman, Inventor: Professor of Electrical and Computer Engineering at Ben-Gurion University.

The Company is based in Beer Sheva’s Hi-Tech park and has 10 employees.