US-based heart monitor technology developer Eko has collected $20m in a series B round backed by vehicles of manufacturing conglomerate 3M, telecommunications group NTT and electronic liquidity provider XTX.
The round was led by venture capital firm Artis Ventures and also included medical centre Mayo Clinic, investment firm Seraph Group and venture capital firm Digitx Partners.
3M and XTX leveraged their respective corporate venturing arms – 3M Ventures and XTX Ventures – while NTT participated through NTT Venture Capital, its US-focused venture capital fund.
Founded in 2013, Eko has created a machine learning-powered platform to regularly monitor patients for signs of cardiac disease.
The technology combines an electrocardiogram with a digital stethoscope device that can be used to check heart rate and breathing, and can be administered by the patient from their home.
Eko will put the funding toward its commercialisation and research and development plans, which include work alongside Mayo Clinic on algorithms for identifying weak heart pump function, helping to quickly select an evidence-based response to reduce risk of complications.
Eko previously raised $5m in a March 2018 series A round led by Artis with contributions from Strategic Partners, DreamIt Ventures, 1812 Ventures, Founders.org and other undisclosed investors, according to media reports.
The company had already closed a $2m round in 2015, according to Forbes, however further details could not be ascertained.