Ultromics secures £41m Series C funding to expand AI solution

Ultromics, a provider of AI-driven cardiology solutions, has raised $55 million (£41m) in Series C financing to scale its technology across the US.

Founded out of the University of Oxford, Ultromics offers the first FDA-cleared AI technology to help clinicians detect HFpEF and cardiac amyloidosis, two of the most elusive forms of heart failure.

The company is now using its funding to expand across the US to bring that capability to the hospitals and echo labs that see the highest volume of at-risk patients.

Ultromics is also expanding its pipeline to include additional cardiac conditions, new distribution channels and deeper partnerships with health systems and clinical leaders.

Ross Upton, PhD, chief executive and founder of Ultromics, said: “The reality is, hospitals already have the data, they just haven’t had the tools to extract the more subtle diagnostic signals from it.

“By analysing routine echocardiograms with AI, we’re helping clinicians identify high-risk patients earlier, enabling intervention before disease progresses.

“We’ve spent years building our platform to fit into clinical workflows, with no extra hardware and no new friction, and this funding helps us scale that across the US at a moment when health systems are actively looking to combat the growing heart failure crisis.”

Ultromics uses AI to extract hidden disease signals from standard echocardiograms, enabling earlier, more accurate detection of complex heart conditions, without requiring new hardware or disrupting clinical workflows.

Its EchoGo platform supports diagnosis of HFpEF and cardiac amyloidosis. Trained and validated on one of the largest real-world echo datasets globally, EchoGo generates real-time probability scores to help cardiologists identify high-risk patients earlier than traditional methods.

Ultromics has already analysed more than 430,000 echocardiograms to date. In clinical studies, EchoGo improved the detection of HFpEF by 73.6% when compared with standard clinical risk scores.

The round was co-led by L&G, Allegis Capital and Lightrock, with continued support from Oxford Science Enterprises, GV, Blue Venture Fund and Oxford University.

Major US health systems, including UChicago Medicine’s venture investment vehicle (UCM Ventures), and UPMC Enterprises also participated in the round.

Alastair Stewart, head of investments, venture capital at L&G, said: “Ultromics has established itself as an early-mover in the large and underserved cardiovascular disease market, having developed one of the first commercially available AI-powered diagnostic echocardiogram technologies.

“This successful Series C round is a testament to the massive opportunity for cutting-edge technology to transform how clinicians can detect and treat serious cardiovascular diseases that impact millions of people every year.”

Ultromics gained FDA Breakthrough Device Status for its AI platfom in 2023.