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22 September 2017

Cardihab nudges investors for $1.35m

Multi-university venturing fund Uniseed has invested $500,000 in smartphone cardiac monitoring developer Cardihab.

Author: Callum Cyrus, reporter

Cardihab, an Australia-based patient management platform aimed at sufferers from a cardiac arrest, has spun out from research institute Commonwealth Scientific and Industrial Research Organisation (Csiro) with $1.35m in funding from investors including venture fund Uniseed.

Uniseed supplied $500,000 for the round, which also included the Slingshot Venture Fund and undisclosed cardiology groups.

Founded in 2016, Cardihab is the first spinout to be based on research conducted by the Australian eHealth Research Centre (AEHRC), a Queensland state-government partnership with Csiro.

The spinout has built a smartphone app for cardiologists to remotely monitor heart attack survivors through rehabilitation. A trial run in Australia indicated survivors were more likely to engage with, adhere to and complete Cardihab’s program than traditional face-to-face rehabilitation.

In 2016, Cardihab received an undisclosed amount from the Slingshot Venture Fund, which generally equips startups with A$50,000 ($40,000) cash in return for 7% to 10% equity.

Simon McBride, chief technology officer of Cardihab, said: “Today’s investment gives us the platform on which to build the company and make a difference to the lives of millions of Australians.”

Uniseed invests in spinouts from Csiro, University of Queensland, University of Sydney, University of Melbourne and University of New South Wales.

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