Boston-based tech company raises $8M to develop AI-powered CVD software
Elucid, a Boston-based healthcare technology company focused on improving care for cardiovascular disease (CVD), has raised $8 million in Series A financing.
Elucid will use the funding to continue work on its AI-based software designed to detect signs of CVD.
“This latest round of financing will enable us to continue advancing our unique technology for non-invasive estimation of cardiovascular event risk, myocardial ischemia and therapeutic response,” Blake Richards, CEO of Elucid, said in a statement. “This funding is validation of the market need for technology like Elucid’s to enable more accurate diagnosis of cardiovascular disease and patient-specific treatment decisions.”
“Our team continues to develop our portfolio of products based on the power of our ideas. This latest round of funding enables us to deliver key aspects of our vision,” added Andrew Buckler, founder, president and chief technology officer of Elucid. “Understanding the nature of vascular disease and taking on some of the challenges which have previously held the field back allow Elucid to reduce stressful procedures for patients while simultaneously improving the diagnostic power available to the clinicians seeking to help improve outcomes.”
MedTex Ventures and Global Health Impact Fund led the funding round. Additional investments coming from Checkmate Capital, IAG Capital, BlueStone Venture Partners, University of Michigan - Wolverine Venture Fund, Willamette Valley Capital LLC and Angel Physicians Fund.
In the same statement, Elucid announced that Jason Bottiglieri has been hired as the company’s new chief commercial officer and Murali Ayyapillai has been brought in to be the new vice president of engineering. Both Bottiglieri and Ayyapillai have more than 25 years of industry experience.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.