Israeli Speech-Processing Startup Cordio Medical Raises $18M
Cordio Medical, the Israeli speech-processing startup that monitors the heart patients by smartphone, announced on Monday it has raised an $18 million funding round.
The company, founded in 2013, has developed an app that allows the early detection of fluid accumulation related to Congestive Heart Failure (CHF) condition deterioration.
Its HearO technology analyzes a speech sample from the patient’s mobile device and alerts a healthcare professional immediately if it finds their condition is deteriorating.
The company, based in Or Yehuda, seeks to go to market in the U.S. in early 2024 with final approval from the FDA.
Its technology learns and monitors the unique speech pattern of each patient, augmented with machine learning capabilities.
The patient speaks into a smartphone that allows near real-time monitoring and early detection of a worsening heart condition.
The investment by Ceros Financial Services and Peregrine Ventures will support clinical studies, partnerships, operations, and R&D, the company said.
“More than 5.7 million Americans are afflicted with congestive heart failure (CHF), making it one of the most prevalent and costly conditions in the US,” said Tamir Tal, CEO of Cordio Medical.