U.K. software developer Ultromics has raised 28 million euros, which it plans to use to further develop artificial-intelligence (AI)-supported echocardiograms.
The company was founded in 2017 as a research spin-off from the University of Oxford in England. It has developed two platforms for assessing heart function: EchoGo Core and EchoGo Pro. Both are already being used by U.S. organizations, including the Mayo Clinic in Rochester, MN, and the Oregon Health and Science University in Portland.
The funding round was led by the Blue Venture Fund -- a collaboration of Blue Cross Blue Shield firms, the Blue Cross Blue Shield Association, and Sandbox -- with participation from Optum Ventures and existing investor Oxford Sciences Innovation, the company said.
