July 31, 2020
Mathys & Squire’s medical software client, Transformative AI, raises $1.7 million seed round
We are delighted to announce that our client, medical software company Transformative AI, has raised a $1.7 million seed round. The investment, which was led by Tera Ventures and included funding from the Wellcome Trust and InHeath Ventures, will support Transformative AI in obtaining FDA clearance for its first product.
Transformative AI was formed in 2016 through Entrepreneur First’s startup programme, and since then the company has expanded to operate in the US, the UK and Estonia. Its predictive patient monitoring software allows healthcare providers to respond to life-threatening medical events before they occur, through the use of cutting-edge machine learning techniques.
This recent investment from Tera Ventures is the latest step in a journey of substantial growth for Transformative AI and will assist the company in developing and perfecting their life-saving products.
The team at Mathys & Squire, led by partner Dani Kramer, has worked with Transformative AI since its inception, and has been involved in the filing of a number of patent applications directed towards the prediction of cardiac events.
Commenting on the investment news, Dani said: “We are thrilled that Transformative AI has successfully raised this significant sum to invest further in its technology. Transformative AI’s technology in early intervention is vital in light of the fact that millions of people die globally from sudden cardiac arrest every year. We’re delighted to be working with the team at Transformative AI in protecting their proprietary technology, to support their mission in the development of vital sudden cardiac arrest prediction technology.”
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