AliveCor, developer of a low-budget electrocardiogram (ECG) recorder that works in conjunction with a variety of mobile platforms (including iPhone, iPad, and Android devices), has raised $3 million in Series A funding, the company announced this morning.
The financing round was led by Burrill & Company along with Qualcomm, acting through its venture investment arm, Qualcomm Ventures, and the Oklahoma Life Science Fund.
AliveCor’s credit card-sized wireless device is capable of turning iOS and Android smartphones and tablets into low-cost heart monitors that can be used by patients at home and by physicians and other healthcare providers in a clinical setting. See video below for a demo of the iPhone version.
Note that the device isn’t for sale yet – AliveCor’s products haven’t yet been cleared as a medical device in the United States. It’s also unclear exactly how much it will cost, but earlier coverage by the Wall Street Journal mentioned a $100 price point.
The company says it will now use the capital to complete clinical studies currently ongoing at the Oklahoma University Health Sciences Center, pursue those necessary regulatory approvals, and gear up for commercial launch of its electrocardiogram recorder.