UTRECHT, Netherlands – 3 oktober 2023
LUMO Labs, ROM Utrecht Region and Utrecht Health Seed Fund are investing 900,000 euros in Cordys Analytics. The startup is a Dutch healthtech spin-out from the University Medical Center Utrecht (UMCU) and incubated at UtrechtInc.
Cordys Analytics’ AI-powered software platform for electrocardiogram analysis (AI-ECG software) offers a new and innovative solution to detect heart disease earlier and more accurately. By harnessing the power of advanced deep-learning techniques, this software identifies subtle patterns and abnormalities in ECG data that traditional diagnostic methods often miss.
The software supports healthcare professionals in making informed decisions and minimising hospitalizations and complications associated with untreated heart conditions. The vendor-agnostic software seamlessly connects various healthcare organisations and ECG devices, making it a versatile tool for healthcare professionals working in different clinical settings and regions across the globe.
Its cloud-based architecture provides operational benefits, such as real-time data analysis, remote accessibility and scalability. The proprietary interface makes it user-friendly.
“We are thrilled to have these investors on board. By joining their networks, we are well positioned to further expand our software platform and make it essential for clinical use,” said Cordys Analytics CEO John van den Berg. “Through our research collaboration with the UMCU, we will develop and refine AI-ECG algorithms and software and integrate our diagnostic services into the workflow of doctors and other healthcare professionals.”
“Integrating the unequalled potential of AI in healthcare for early detection and prevention not only has a tremendous impact on the quality of life of individual patients, but it also contributes to a more sustainable, affordable healthcare system,” said Andy Lürling, Founding Partner at LUMO Labs. “Cordys’ software has these qualities and – because it is vendor-agnostic – these benefits can scale wide and far. This fits LUMO Labs’ investment focus perfectly.”
“At ROM Utrecht Region we strongly believe in the potential impact of the algorithms developed by Cordys Analytics,” said Adinda Woelderink, Investment Manager at ROM Utrecht Region. “The amount of data generated within cardiology offers a unique opportunity for AI-powered ECG analysis to be supportive in workflows and optimised detection of ECG abnormalities.
“The Cordys team has all that is needed to bring this innovative solution further into the healthcare practice.”
“We are excited to invest in Cordys Analytics and team towards redefining the way ECG analysis and processing is done,” said Timo Koopmans, Investment Manager of Utrecht Health Seed Fund. “The team is well positioned to bring its technology to market so patients and healthcare providers alike can benefit.”
About Cordys Analytics
Cordys Analytics is a Dutch healthtech startup, founded in 2023, specialising in AI-powered software to analyse electrocardiograms (ECGs). The company is a member of UtrechtInc
and is a spin-out from the University Medical Center Utrecht (UMCU).
TTT.ai is a knowledge and investment consortium consisting of Dutch universities and LUMO Labs. Formed in 2020, the consortium’s aim is to advance the availability and relevance of artificial intelligence innovations within society. The consortium was awarded a subsidy of eight million euros for pre-seed funding and knowledge transfer to startups. This is a subsidy from the Netherlands Enterprise Agency’s (RVO) Technology Transfer (TTT) scheme. The investment in Cordys Analytics is the sixth investment under the TTT.ai scheme.
About LUMO Labs
LUMO Labs creates opportunities for impact-driven software and smart hardware startups. The current LUMO Fund II is an impact-driven multi-stage capital fund (pre-seed up to and
including series A). It includes a two-year venture builder program to support its portfolio companies in gaining financial success as well as social traction and impact.
LUMO Labs funds startups that align with at least one of the three United Nations Sustainable Development Goals: Sustainable Cities & Communities, Good Health & Well- Being and Quality Education. Its investment focus includes Artificial Intelligence/Data, Blockchain, Internet of Things, Robotics and Drones and Virtual Reality/Augmented Reality.
LUMO Labs media contact
Andy Lürling, Founding Partner
About ROM Utrecht Region
The Healthy Urban Living Proof of Concept (HUL- PoC) Fund invests in the major transition sectors that are important for tomorrow's economy: Digital, Health, and Sustainability. The fund is commissioned by the ERDF and local governments from the Utrecht area.
Together with private investors, we invest in companies developing highly innovative products that we wish to see in our ideal future society and have the ambition to become scalable businesses
ROM Utrecht Region media contact
Adinda Woelderink, Investment Manager Life Sciences & Health
About Utrecht Health Seed Fund B.V.
Utrecht Health Seed Fund supports science-driven innovation in the field of Life Sciences and Health, with a strong economic tie to the province of Utrecht. In a stage of technological development where funding is often scarce, Utrecht Health Seed Fund aims to provide the capital needed to bridge the gap towards follow-on funding.
Utrecht Health Seed Fund media contact
Timo Koopmans, Investment Manager