Personal MedSystems, the German company behind mobile ECG test CardioSecur, has raised a Series B round of €5 million.
New investors in the round include KPN Ventures, Sino-German High-Tech Fund (a joint fund supported by China’s Donghai Securities and Germany’s High-Tech Gründerfonds), and NRW Bank.
The Frankfurt-based company added that it expects to raise a further €700,000 from existing investors seventure, KfW, and High-Tech Gründerfonds (HTGF).
The funds will be used for further development of the CardioSecur mHealth platform and EGC device for monitoring cardiac symptoms as well as investing in sales and growth.
“CardioSecur is the only technology worldwide that provides instant feedback on heart symptoms when and wherever they occur,” explained Dr Markus Riemenschneider, cofounder of Personal MedSystems. The app claims to provide care and treatment recommendations to patients as well as a means to transfer ECG data to their physicians.
According to cofounder Felix Brand, Personal MedSystems anticipates that it will garner greater market share following this Series B round.
“Broad availability of CardioSecur’s extensive ECG service makes our smart data platform ever larger day by day, serving as the basis for generating predictive values for serious cardiac events in the future and helping to reduce healthcare costs to society,” he said.
New investors KPN will be helping to launch CardioSecur in the Dutch market, said KPN managing director Herman Kienhuis.
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