Mills & Reeve advise VC fund on investment in AI cardio pioneer

Ultromics has developed the first FDA-cleared AI technology to help clinicians detect two of the most elusive forms of heart failure – HFpEF and cardiac amyloidosis.

The latest funding will enable Ultromics to expand across hospitals in the US which see the highest volume of at-risk patients, aiming to make AI-enhanced diagnostics a default step in the cardiac workup. The company is also further developing is pipeline to include additional cardiac conditions, new distribution channels and deeper partnerships with health systems and clinical leaders.

The round was co-led by Lightrock, L&G and Allegis Capital, 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.

The team, led by partner Edward Sloan, advised Lightrock on the funding. They were also supported by Mintz Levin’s Health Law Group advising on US regulatory aspects. 

Ultromic said that heart failure is rising, costs are mounting, and millions of patients are still going undiagnosed, especially those especially those with harder-to-detect forms. In the US heart failure drives over $30 billion in annual healthcare costs, a number projected to exceed $70 billion by 2030. Clinicians often rely on subjective interpretation of echocardiograms, leading to missed or delayed diagnoses even when patients are actively seeking care. Up to 64% of HFpEF cases go undiagnosed, and cardiac amyloidosis is frequently mistaken for more common forms of heart disease, leaving patients untreated until symptoms worsen or irreversible damage occurs.  

Ultromics’ technology, which has been reimbursed by Medicare, addresses this diagnostic blind spot by using 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 FDA-cleared EchoGo® platform supports diagnosis of HFpEF and cardiac amyloidosis.

Ross Upton, PhD, CEO 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.”

Umur Hursever, partner at Lightrock, added: “Heart failure and cardiac amyloidosis impact millions of lives and strain healthcare systems, despite new approaches that have the potential to significantly improve patient outcomes. There is a critical need for scalable solutions that enable earlier, more accurate diagnosis and elevate the standard of care. Ultromics’ AI-driven technology is already making a real-world impact, improving diagnostic accuracy, supporting clinical decisions, and expanding access to specialist care.”

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