Indian co-founded CardioInsight Technologies raises $6 Million

Bangalore: CardioInsight Technologies, a developer of electrocardiographic mapping technology, recently closed a $6 million in Series B round of venture funding. Draper Triangle Ventures, Case Technology Ventures, Dr. Michel Haissaguerre, an international electrophysiologist, and company management all participated in the funding round.

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"This infusion of capital will accelerate commercialization of our transformative mapping technology, allowing doctors to more accurately, quickly and effectively diagnose and treat cardiac arrhythmias and congestive heart failure," said Steve Arless, CardioInsight's CEO. The U.S. based CardioInsight got its start in 2006 with $750,000 in funding from Draper Triangle Ventures, the Pittsburgh office of Midwestern venture capital fund Draper Fisher Jurvetson, JumpStart, the nonprofit venture development organization in Cleveland and the technology transfer office of Case Western Reserve University, also in Cleveland. The company also received about $350,000 in 2008 from the Global Cardiovascular Innovation Center, a consortium led by the Cleveland Clinic.

CardioInsight's electrocardiographic mapping technology gathers electrical information about the heart from an electrode 'vest' placed on a patient's body and combines it with images from a CT scan to provide 3D maps of the electrical activity of the heart. Unlike conventional methods, CardioInsight's technology is non-invasive and provides beat-by-beat whole heart mapping. The company's technology springs from research conducted over the past two decades by former Case researcher Yoram Rudy. The university spun out the technology to CardioInsight in 2006 by Charu Ramanathan and Ping Jia. Charu is also the CardioInsight's Vice President of business and clinical development.