The corporate venturing unit of US-based technology company Qualcomm and US-based merchant bank Burrill & Company have helped US-based heart testing company AliveCor raise $3m.
Qualcomm Ventures and Burrill were joined by Oklahoma Life Sciences Fund in the series A round for AliveCor, which makes mobile applications for heart monitoring.
A promotional video for AliveCor’s product, which trials a case designed for Apple’s iPhone, was broadcast on YouTube in December last year and has had more than 250,000 visits since.
The company will begin manufacturing its device after it completes clinical trials, and it is expected to retail for less than $100.