A Lithuanian medical technology start-up Ligence has secured a EUR 3 million investment

Ligence has attracted an investment of EUR 3 million, which will be used to develop its cardiac diagnostics solutions. Simpact Ventures, a Polish venture capital fund manager, was the lead investor in this round. Lithuanian venture capital firm Coinvest Capital, the European Innovation Council, Estonian venture capital firm Lemonade Stand, business angel syndicate NGL and private investor Rita Sakus contributed to this round.

According to Arnas Karužas, CEO of Ligence, this investment is a validation of the company’s strategic direction. This technology – cardiac ultrasound is crucial and will enable the provision of accurate and rapid diagnosis of heart disease. Ligence is developing software used in cardiac echoscopies that automates image analysis through artificial intelligence and allows cardiologists to make accurate decisions.

The company’s software is used in Lithuania and other European countries. Clinical trials are conducted in the USA, Germany, the Netherlands, Poland and Lithuania.

The COBALT team, led by Partner Akvilė Bosaitė, provided legal support to the European Innovation Council Fund at all stages of the investment.