US-based semiconductor company Qualcomm’s corporate venturing unit has helped Alivecor, a US-based maker of mobile applications for heart monitoring, raise $10.5m.
Qualcomm Ventures and its Qualcomm Life Fund, a $100m life fund to invest in wireless technology for medical devices, were joined in the series B round by US-based bank Burrill & Company and venture firm Khosla Ventures, the two of which led the round. Also investing in the round was the Oklahoma Life Sciences Fund.
In August last year $3m Qualcomm Ventures and Burrill were joined by Oklahoma Life Sciences Fund in the series A round for AliveCor.
Steven Burrill, chief executive of Burrill & Company, said: "AliveCor’s unique innovation offers the ability to decrease the cost and increase the global availability of advanced cardiac monitoring. Heart health remains a huge cost to the healthcare system. Burrill & Company is pleased to be a part of this round and AliveCor’s exciting next stage of development."
Michael Kourey, an operating partner at Khosla Ventures and former chief financial officer of video conferencing company Polycom, is joining AliveCor’s board.