Lithuanian cardiac diagnostics startup Ligence, which automates cardiac ultrasound analysis, has secured €3 million in early-stage seed funding, led by Simpact Ventures with support from Coinvest Capital and the European Innovation Council (EIC). The new capital will enable the startup to enhance its AI-driven software and expand its clinical trials.
- Founded in 2019 by Dovydas Matuliauskas, Ligence develops AI-powered software for cardiac echocardiography that automates image analysis to assist cardiologists in making accurate clinical decisions.
- The platform simplifies the diagnostic process by offering precise measurements, automated reporting, and a vendor-neutral cardiac viewer, improving clinical workflow efficiency and diagnostic accuracy. Ligence’s software delivers fast, reliable results that match the expertise of experienced cardiologists, enabling clinicians to spend more time with patients.
- The software is already being used across Europe and is currently being tested in Morocco. Clinical trials are underway in the United States, Germany, the Netherlands, Poland, and Lithuania.
Details of the deal
- The early-stage seed investment round was led by Simpact Ventures, a Warsaw-based venture capital firm managing PLN 130 million, which invests in impact-driven tech startups in Central and Eastern Europe that create positive social and/or environmental impact.
"Impact investing is an investment strategy that seeks to generate not only a financial return but also a measurable benefit for society or the environment. Ligence aims to improve the availability and accuracy of heart disease diagnostics, reducing clinical workload and allowing doctors to spend more time with patients," Claims Wojciech Majewski, partner at Simpact Ventures.
- The round also saw participation from Vilnius-based VC Coinvest Capital, the European Innovation Council (EIC), which allocates over €1.4 billion to support deep tech research and high-potential startups, Tallinn-based Lemonade Stand, the business angels syndicate 9NGLS, and Rita Sakus.
"The investors' confidence once again shows that the company's strategic direction is the right one: the world's biggest killer - cardiovascular disease - and one of the key tests to diagnose it, cardiac ultrasound, deserve more attention," Arnas Karužas, CEO of Ligence, commented.
- With the capital raised, the startup plans to enhance its AI-driven software, expand clinical trials, and scale its operations to improve the accessibility, accuracy, and efficiency of cardiac ultrasound diagnostics.
