Slovak medtech Powerful Medical receives €7.5M from EIC

Bratislava-based medical device manufacturer Powerful Medical has received a €2.5 million grant and a follow-on €5 million investment from the European Innovation Council (EIC). The funding will help the startup to revolutionize its heart attack diagnostics with AI.

• Co-founded in 2017 by Martin Herman, Robert Herman, Simon Rovder, and Viktor Jurasek, Powerful Medical develops PMcardio, an AI-powered ECG interpretation platform. It enables healthcare professionals to detect acute heart attacks along with 38 other cardiac abnormalities. The medical device analyzes any image of a 12-lead ECG and compares it against previous patient records using AI.
• According to the startup, its systematic approach aims to redefine care coordination within the healthcare system. The integration of PMcardio into existing hospital workflows streamlines the triage process with an AI-augmented patient assessment pathway to provide early and precise diagnosis.

The impact of our technology is not limited to the immediate treatment of heart attacks; it extends into the future well-being of patients. Our AI models in development focus on ECG-based screening for heart failure as early as asymptomatic patients presenting for a routine check-up to their GP and early recognition of sudden cardiac death predictors, ensuring patients have the best chance for a healthier, longer life,

Dr. Robert Herman, Chief Medical Officer at Powerful Medical, states.

• The startup was backed by the European Innovation Council, part of the European Union’s Framework Program for research and innovation Horizon Europe, which aims to identify, develop, and support innovative, high-risk projects from Europe. The grant and subsequent investment will help fulfil the company’s plans for commercialization and further expansion.

In 2022, Powerful Medical raised €6.2 million in a seed round to accelerate global expansion and develop its product. Investors were CB ESPRI Impact One, bpd partners, Venture To Future Fund, and several business angels. Here are the details: