Medtech startup HeartHero said this week it raised $1.5 million in a seed investment round to support the development of its next-gen automated external defibrillators.
HeartHero is developing a portable, “easy-to-use” AED with intentions of making the device affordable to the general populace.
The Denver-based company said the $1.5 million was over its initial funding goal, and that funds in the round came from a venture capital firm, angel investors and grant funding.
“Now that we have closed our seed round of funding, we are one step closer to empowering millions to save their loved ones from a cardiac arrest. As a medical professional who has seen too many people die from SCA, I am thrilled that our investors believe in our product and our mission. The AED market is ripe for disruption, and we plan to do just that,” HeartHero founder & CEO Gary Montague said in a prepared statement.
HeartHero said it received a $250,000 grant earlier this year from the Colorado Office of Economic Development and International Trade, and that it leveraged the grant to attract an additional $250,000 investment from Canadian family office PIC Investment Group.
“PIC is pleased to add HeartHero to our Minority Investment Portfolio of Companies. My own personal experience with a family member’s cardiac issues has underscored the importance of getting this product into the hands of everyone at risk,” PIC chief of equity investment Laurie Dmytryshyn