WEBIT Founders Games

inHEART

inHEART
Startup Name: inHEART
Country: France
Date Founded: /9/2017
Financial Stage: Post Seed
Area: Health
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inHEART is a French and US deep tech startup. The company develops web-based, cloud-based, and AI-based software solutions for cardiologists. inHEART leverages medical images, electrocardiograms, and clinical data to deliver a digital twin of the patient’s heart for cardiac arrhythmia treatment support and prediction of and screening for cardiac diseases in the general population. inHEART uses its vast amount of annotated clinical data to train powerful predictive AI for the prevention of and screening for sudden cardiac death, stroke, and heart failure. These solutions are about to be released starting in 2024.
inHEART solves the following problems: (1) Reduces tachycardia ablation procedure time by 60% and improves ablation effectiveness by 25% based on early clinical evidence, (2) allows for prevention of acute complications in chronic structural heart diseases, and (3) enables screening of the general population for risks of cardiac disease.
There is only one direct competitor in cardiac ablation therapy support – ADAS3D. This company sells a software license to workstation software, which must be used at the clinical site, instead of a web-based, AI-based service as inHEART. inHEART’s business model is much better applicable to real-life clinical workflow. In prevention and screening, inHEART is a worldwide leader without competitors.
The business model is pay-per-use and annual or monthly subscriptions. The commercial success in the first year of sales validates the business model (700k€ revenue and 30 clinical sites under contract).
Our customers are cardiologists. inHEART grows its user base through KOLs, conferences, clinical papers, TV interviews, sponsorships, webinars, social media, etc.
inHEART has received regulatory approval in the EU and US and started commercializing its cardiac arrhythmia support solution in 2021. The company also initiated a multicenter randomized controlled trial which will be completed in 2024. The company will reach more than 2m€ revenue in 2023 with its cardiac arrhythmia support solution. inHEART will release a solution for sudden cardiac death (SCD) risk stratification with scar quantification per 2020 AHA/ACC clinical guidelines in Q2 2024. AI and simulation-based SCD prediction will be released in Q4 2025. AI and simulation for heart failure and stroke prediction will be released in Q4 2026.

Financing Stage:

Seed:
Raised money:  3700000 EUR
Valuated at:  11200000 EUR
Investor:  Elaia
Closing Date:  05/2020
Post seed:
Raised money:  2750000 EUR
Valuated at:  14100000 EUR
Investor:  Elaia
Closing Date:  01/2023
Current Revenue:
Current Year:  2300000 EUR
1 year ago:  700000 EUR
2 years ago:  200000 EUR
3 years ago:  0 EUR
Next year expected revenue:
6000000 EUR
Development Stage:
Post-revenue
Аre you in currently in an open Investment round?
Yes
What is the company valuation for this round by the lead investor?
14100000 EUR
What is the amount of financial commitments you have so far?:
1000000 EUR
What would be ideal amount of financing via the Founders Games?:
500000 EUR
Who is the lead investor for your round?:
Elaia
Team member 1: Todor Jeliaskov
Position: Chairman & CEO
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Bio: Todor Jeliaskov brings over 20 years of experience solving customers’ needs and generating returns for investors and shareholders at large, complex enterprises and startup organizations across continents and various industries. Before inHEART, Todor Jeliaskov was CEO of NuVera Medical, acquired by Biosense Webster (Johnson & Johnson) in November 2020. NuVera developed the next-generation intracardiac imaging technology for cardiac interventions - 4D ICE. Todor Jeliaskov previously served as VP at GE Ultrasound. At GE, Todor Led the largest diagnostic ultrasound probe business in the World with seven sites across North America, Europe, and Asia, close to 200k probes annually, $500m in revenue, and millions of customers. Todor Jeliaskov started his career at Siemens Medical Solutions. He holds a Ph.D. in Electrical Engineering and an MBA degree.
Team member 2: Jean-Marc Peyrat
Position: CTO
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Bio: Jean-Marc Peyrat, PhD, MBA, is the CTO and co-founder of inHEART, a spin-off from IHU Liryc and Inria. He has more than 10 years of international experience as a research scientist in medical imaging and robotic surgery. He worked in top-tier academic and industrial labs including Inria (Sophia Antipolis, France), Dassault Systèmes, Siemens Corporate Research (Princeton, NJ, USA), Siemens Molecular Imaging (Oxford, UK) and the Qatar Robotic Surgery Centre (Doha, Qatar). Jean-Marc graduated with a Ph.D. in Computer Science from Université de Nice - Sophia Antipolis and with a M.S. in Biomedical Engineering from Ecole Centrale Paris. Passionate about the translation of ideas into products, he complemented his scientific education and experience with a MBA at HEC Paris during which he participated to the inception of inHEART. Jean-Marc has been awarded several prizes including the Prix Félix CentraleSupélec Innovateur 2018, the HEC MBA Prize in 2017, and the Prize for Excellence in Innovation from Université Côte d’Azur.
Team member 3: Pierre Jais
Position: Co-Founder
Bio: Pierre Jaïs is Professor at the Cardiology Hospital, Pessac, France, working with Michel Haissaguerre in the Rhythmology & Cardiac Stimulation Department. He co-manages the LIRYC Institute (Electrophysiology and Heart Modelling Institute) and leads the MUSIC EQUIPEX both aiming at improving knowledge and treatments of electrical dysfunctions of the heart, with extra focus on imaging for MUSIC. He is a regular contributor to national and international symposia and has written many articles, mainly on electrophysiology and RF catheter ablation, particularly focusing on atrial arrhythmias. He published more than 600 papers and he is in the 1% most cited scientist in Thomson Reuters ranking. He was awarded the Medtronic prize for the electrical treatment of atrial arrhythmias in 1997, the Nativelle prize for his work on left atrial flutters in 2001, and with his team at Pessac he was awarded the Prix Eloi Collery de l’Académie Nationale de Médecine in 2008 for his work on atrial arrhythmias, diagnosis and treatment by RF catheter. He received the "Best Paper Award for Clinical Science" by Circulation in 2009. Finally, he was awarded the Lamonica Prize of the Académie des Sciences in 2011 and Robert Debré in 2015. He is currently working on catheter ablation for atrial and ventricular arrhythmias with special focus on advanced imaging integration and modelling to guide ablation procedures.
Team member 4: Hubert Cochet
Position: Co-Founder
Bio: Hubert Cochet, MD, PhD is Professor of Radiology and Medicine at the University of Bordeaux, Head of cardiac imaging at Bordeaux University Hospital, Head of the Multi-modal Data Science research team and Director of the department of Healthcare Technologies within the IHU LIRYC Institute. He is the author of over 200 peer-reviewed publications in the fields of imaging, cardiology and computer sciences, and has been the PI of multiple research programs funded by the French National Research Agency (ANR EQUIPEX MUSIC, ANR MIGAT) or the ERC (ERC ECSTATIC). His research focuses on (i) advanced imaging methods for myocardial tissue characterization; (ii) AI methods for image/signal processing; (iii) image-based computational modeling for in silico arrhythmia simulation; (iv) multimodal characterization of cardiac arrhythmia by combining imaging with invasive and non-invasive electrophysiological mapping; and (v) guidance of ablation therapy with the use of imaging.