YCombinator Drop-Out, Future Cardia, Raises $5M to Challenge the Biggest MedTech Corporations in the World
Newsfile Corp.
4 min read
Tampa Bay, Florida--(Newsfile Corp. - March 26, 2022) - At Future Cardia, they have developed a solution that is poised to help the problem of long-term heart monitoring. It could help as many as 6 million heart failure patients delivering a safe, effective, and automatic monitoring system.
According to Future Cardia CEO Jae Bang, it could help change everything.
"Right now, patients with an underlying cardiac condition are stuck between the ER, or waiting it out," Bang says. "And both decisions have massive consequences."
A false alarm will send a patient into the ER for tests and ongoing monitoring - a massively expensive treatment option.
"If it's an emergency, you're in even bigger trouble," Bang says. "That's the situation patients are in, and either way, they are paying the price for it."
Current Solution
The industry gold standard for Heart Failure monitoring has been to implant a device inside the heart in a cardiac cath lab procedure. - which works well but is incredibly expensive, complex, and therefore has a low adoption rate.
And the wearables are ideal for 1-3 weeks, but beyond that, they suffer from low accuracy, low compliance and limited data. That's why they are not used in clinical settings.
Neither option presents a viable long-term solution for Heart Failure patients.
New and Improved Solution
Future Cardia allows patients to avoid making these life-altering decisions by providing remote monitoring poised solutions with quantifiable and actionable data.
This device is equipped with multi-sensor and wireless technology that connects to a smartphone, and then the data is pushed to a cloud based A/I for the clinicians to review it.
This means the physician is always aware of the patients' condition --- and in the event of an emergency, it becomes much easier to provide reliable critical care when it matters most.
The device is designed to fit under the skin on a patient's chest. Inserting the device can be done simply during a two-minute outpatient procedure. From there, setup can be completed in minutes, and there is no need for follow-up appointments or ongoing device maintenance.
Once Future Cardia has been implanted, the patient no longer has to worry about monitoring their arrhythmia or heart failure. The device works for them, sending daily updates to their physicians.
The team at Future Cardia is completing its research and development phase, and they expect to be ready for patient use by the end of the year. It has been an exciting time, and their work has already gained the attention of notable partners including Johnson & Johnson's JLabs and Stanford University's StartX and famed Ycombinator.
They dropped out of YC in Summer 2021 - turning down $5 million and a life-changing opportunity, in order to maintain the clarity of their vision. And the results have been nothing less than extraordinary.
In addition to important partnerships with some of the leading technology and investment groups, Future Cardia has already raised over $5 million from over 5000 investors through crowdfunding and super angels.
Because for Bang, this is not only about fundraising, and it is not only an opportunity to create a life-changing device. It is a chance to change everything, to help a group of people who desperately need a solution.
"In the hospital, they have great nurses and doctors caring for them, but when they go home, they are basically on an island on their own," Bang says. "We need to come up with a solution for these patients, not in the hospital, but at home where they are most vulnerable."
By all accounts, Jae Bang fits the ideal image of a bankable entrepreneur in Silicon Valley. With an MBA from one of the most elite schools in the country and an extensive background in corporate and startups, including two MedTech startups that went IPO, Bang was the kind of guy venture capitalists love to write checks to - an expert with experience. And now he had an idea that could revolutionize healthcare in America.
With everything on the line, Bang made a decision that would shape the future of his business - and the future of heart healthcare - for good.
About Future Cardia
Future Cardia is the creator of an insertable cardiac monitor for a long-term heart failure monitoring solution to disrupt the $5B market and to set the stage for connected implants. Their approach is a simple 2-minute office procedure that brings simplicity, accuracy, and high compliance for long-term monitoring and existing insurance coverage.
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