DEAL TALKS: Andrus Oks of Tera Ventures talks about leading the $1.7 million seed round investment into Transformative AI
This time our DEAL TALKS meets Andrus Oks, the Founding Partner of Tera Ventures and we talk about their recent investment into Transformative AI – a healthcare startup whose software predicts sudden cardiac arrest.
Here’s what Andrus said:
1. What makes Transformative unique?
Transformative’s world-class team is amazing. Their patented algorithm predicts sudden cardiac arrest with 94 percent accuracy. Predictions occur at least 2 minutes in advance, with some warnings as early as one hour in advance. These results exceed all published results. With ECG data from thousands of patients, they have the largest and most diverse database of its kind. Thanks to research agreements with leading hospitals in North America, Europe, and Asia, they are acquiring more data continuously to improve on this performance.
2. How is the investment used?
Transformative will use its seed funding to obtain FDA clearance for its technology and support the technology’s commercial launch.
3. Impact and diversity
Transformative is operating in the United Kingdom, the United States, and Estonia. Their technology will revolutionize in-hospital cardiac telemetry monitoring - this represents not only a massive business opportunity but also an opportunity to save thousands of lives each year.
Key advisors of the deal
Ellex Raidla was the legal advisor, represented by Antti Perli.
Further info:
Andrus Oks
Founding Partner
Tera Ventures
andrus@tera.vc
- Read more HERE