Cardiovascular artificial intelligence medtech firm Bay Labs said today it raised $5.5 million in a Series A round to support clinical validation and further development of its cardiovascular imaging tech.
The round was led by existing investor Khosla Ventures and joined by newly invested Data Collective, Greenbox Venture Partners, Minneapolis Heart Institute Ventures and Georges Harik. As part of the funding round, Khosla Ventures general partner Ben Ling and DCVC operating partner Armen Vidian will join the San Francisco-based company’s board of directors.
“Bay Labs’ unique application of AI with ultrasound has the potential to enable medical professionals to provide faster and better care to patients. We are excited to increase our investment in Bay Labs to revolutionize ultrasound,” Khosla Ventures general partner Ben Ling said in a prepared statement.
“We are impressed with the strength of the Bay Labs AI engine to bring consistently high-quality ultrasound images and key data to physicians when they need it most – at the point of care, and we are especially excited to see such early enthusiasm from some of the world’s leading physicians. We see tremendous potential for this intelligent, data-rich technology to impact how and when physicians direct patient care to dramatically improve outcomes,” DCVC operating partner Armen Vidian said in prepared remarks.
Bay Labs AI-assisted cardiovascular imaging tech is being designed to help diagnose and manage heart disease. The system uses deep learning technology to help perform and interpret echocardiograms with the goal of improving treatment of heart disease.
The company said it has partnered with the Minneapolis Heart Institute and Allina Health, Northwestern Medicine, Duke University School of Medicine and Stanford University cardiologists to develop the deep learning algorithms for its system.
“We’re gratified by the continued support from our existing investor Khosla Ventures and we welcome our new investors — all of whom share our vision about how deep learning technology can address two key problems in diagnostic cardiology: acquisition and interpretation of echocardiograms. We welcome Ben Ling and Armen Vidian as board members and look forward to their strategic contributions to our efforts to enable providers in achieving high-quality cardiac imaging results to improve patient care,” Bay Labs co-founder & CEO Charles Cadieu said in a press release.