KARDI AI

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KARDI AI is a solution that combines AI with low-cost wearables to deliver medical-grade patient heart monitoring from home. The solution uses a wearable paired with a mobile app that communicates with patients and streams their cardiac monitoring data to the cloud, which helps to monitor and diagnose patients’ hearts continuously. The startup is solving such issues in current cardiac monitoring methods outside of healthcare facilities as price, limited doctor supply, unreliability, and time consumption.

Founded by a team made up of renowned cardiology experts led by Stephen Burke, an experienced entrepreneur with proven success, the startup is currently in the market validation stage and successfully gaining early traction, acquiring paying customers as well as expanding cardiologists network, who are distributing the MyKARDI kits.

KARDI AI is looking for a seed round of EUR 1.1m at EUR 6.89m pre-money valuation with EUR 400k-600k already soft-committed from existing investors and a new Czech family office. The startup is looking for funding to achieve Medical Device (MDR) class 2a certification, improve AI performance and capabilities that will enable the app to give patients a quick situational assessment of their heart as well as reach 3k paying customers, EUR 40k MRR, and expand the cardiologist network in Czechia to >100.

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DECK: link here

FINANCIALS: link here

Q&A Zoom Session recording: link here

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We will be allocating slots as follows:

1. DEPO LPs (Angels Fund II and Grouport)

2. DEPO Angels paying members

3. DEPO Angels syndicate members

Further information:

1. The minimum investment is EUR 5,000

2. We might have to cut back if we are oversubscribed.

3. Accepting allocations until January 30th, 2023


💡 If interested, please email: petr.sima@depoventures.cz or mark your interest directly HERE 

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About Kardi AI

Team

Stephen Burke - CEO and Co-Founder - 25+ years of experience in technology companies mostly in investor-backed or bootstrapped start-ups, senior roles in US, European and Asian companies (Verkaro, Sciant Labs, Taxeo, SnapShot, eRevMax, htng, Knowcross Solutions). His previous company Sciant was acquired in 2021.

Tomas Skala - Chief Medical Officer and Co-Founder - 18+ years of cardiac electrophysiology experience

David Skala - CPO and Co-Founder - 4+ years as business and integration architect manager at Accenture, 9+ years experience in project management and business consultancy (Wall Street Systems)

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Pro Rata rights Included for Syndicate Investors: Yes

Information rights: Yes

Estimated fees: setup costs EUR 10,000, Carry 20% Fees include SPV setup and management, and the DD process

Investment vehicle: Czech SPV (s.r.o.)

Syndication and SPV management: DEPO VENTURES s.r.o.

Allocation: EUR 200k

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General Question

Cardiac arrhythmia affects 2-3% of the world’s population and is expected to more than double due to longer life expectancies and improved diagnostic methods. Current methods of cardiac monitoring are expensive, in limited supply (1k-1.5k patients per doctor and 1-5 Holters per doctor), and don't align with patient needs. Due to the long waiting times to get Holter monitoring and scheduling periods involved, monitoring is generally not available during episodic or sudden acute attacks. Doctors are as well unable to obtain important data from the periods when patients are in peak distress or asymptomatic. Moreover, PPG sensors in wearables monitor for only a few seconds and thus are highly unreliable. Currently, there is a gap in the market and a need for a system capable of long ECG monitoring (screening for Atrial Fibrillation (AF)), available at times of patient need (diagnostic aid), usable for other arrhythmias than AF, with automatic analysis.

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