Other investors joining the round are Partech Ventures, SGInnovate and Startup Health.
Founded in 2017, eko.ai has developed a machine learning platform to automate the manual process of measuring and interpreting echocardiograms, which is known as ultrasound images of the heart.
The company said it will use the funding to grow its development team and accelerate commercial operations in the US and Europe.
“With this funding, we can further develop our innovative solutions with the ultimate goal of democratising echocardiography – the safest and most commonly used tool to image the heart,” said Carolyn Lam, co-founder of eko.ai.
The startup claimed its potential applications and tools could range from expanding the use of echocardiography in clinical care to improving the performance of cardiovascular clinical trials, especially for the early detection and prediction of heart disease.
eko.ai has had commercial and academic research collaborations with partners such as AstraZeneca, Brigham and Women’s Hospital, Samsung Medical Center’s Heart, Vascular and Stroke Institute and the University of Alberta, it said.
“Nurturing innovative home-grown companies in deep tech industries including healthcare remains a cornerstone of our investment priorities and together with like-minded investors, eko.ai will have a booster shot to transform medical diagnostic imaging and delivery of care to cardiovascular patients,” said EDBI’s CEO and president Chu Swee Yeok.
eko.ai was co-founded by James Hare, a serial entrepreneur and investor, Dr Carolyn Lam, a senior consultant cardiologist at the National Heart Centre Singapore and professor at Duke-National University of Singapore, and Dr Yoran Hummel, founder and former general manager of the Groningen Imaging Core Laboratory of the University Medical Center Groningen.
“The combination of Carolyn’s deep domain knowledge, James’ commercial acumen and his experience as a founder are truly unique and compelling,” said Pieter Kemps, a principal at Sequoia India.