MedTech startup raises $1.7 million for US push
Cambridge-born medical software business Transformative AI has raised a $1.7 million seed round.
Trade Mark and patent attorney Mathys & Squire reveals that the investment in its client was led by Tera Ventures and included funding from the Wellcome Trust and InHeath Ventures. The funding will support Transformative AI in obtaining FDA clearance for its first product.
The team at Mathys & Squire, led by partner Dani Kramer, has worked with Transformative AI since its inception, and has been involved in the filing of a number of patent applications directed towards the prediction of cardiac events.
Transformative AI was formed in 2016 through Entrepreneur First’s startup programme and has since expanded to operate in the US, the UK and Estonia.
Its predictive patient monitoring software allows healthcare providers to respond to life-threatening medical events before they occur, through the use of cutting-edge machine learning techniques.
The founders represent Cambridge brain power at its finest. CEO Josh Oppenheimer is a Cambridge MBA; CTO Marek Sirendi holds a PhD in Physics from Cambridge while CSO Marek Rei holds a PhD from Cambridge. He is also a visiting lecturer at Cambridge while COO Weijia Li is another Cambridge MBA.