Medtech start-up See-Mode raises $1 million to save lives of stroke victims

  • See-Mode provides accurate and reliable stroke prediction and treatment planning
  • Stroke is the second leading cause of death and the leading cause of preventable disability
The See-Mode team in Singapore (left) and Australia (right)
The See-Mode team in Singapore (left) and Australia (right)

SINGAPORE, February 19th 2019 — See-Mode Technologies, a medical imaging start-up using artificial intelligence and computational modelling, today announced a USD 1 million seed financing round led by Singapore’s Cocoon Capital alongside SGInnovate and Australia-based Blackbird Ventures. See-Mode is an alumnus of talent investor, Entrepreneur First, in Singapore.

See-Mode was co-founded in 2017 by Dr. Milad Mohammadzadeh and Dr. Sadaf Monajemi, both biomedical engineering PhDs. The company is developing a suite of medical software based on the team’s proprietary mix of computer vision, artificial intelligence and computational modelling. See-Mode equips clinicians with the tools needed to accurately and efficiently predict and preemptively treat stroke with a potential to save millions of lives globally. See-Mode has clinical collaborations in Singapore with the National University Hospital, Changi General Hospital and the National Neuroscience Institute of Singapore. The company is also starting a multi-centre clinical study with leading hospitals in Australia and USA.

“See-Mode is a perfect example of how artificial intelligence is driving next-generation healthcare that will lead to a drastic increase in life expectancy alongside significantly reduced treatment costs”, said Will Klippgen, Managing Partner at Cocoon Capital. “We are very impressed with the multidisciplinary background of the team and how they came up with a solution that is already creating strong interest in all corners of the world”, added Mr. Klippgen who recently joined See-Mode’s board of directors.

While stroke is the second leading cause of death and the first cause of preventable disability in the world, its treatment planning mostly relies on tracking conventional risk factors. According to the World Health Organization, 15 million people suffer stroke worldwide each year. Of these, 5 million die and another 5 million are permanently disabled. Using the power of deep learning, computational modelling, and cloud computing, See-Mode’s medical software suite enables doctors to obtain critical stroke risk factors that are currently inaccessible in clinical practice. This is achieved by analysing routinely collected ultrasound, CT, and MRI images without needing additional imaging or changing the existing workflow.

Through See-Mode’s suite of medical software, clinicians can save time, objectively interpret ultrasound images, and assess blood flow patterns in patients based on a routine CT scan or MRI.  Furthermore, See-Mode provides doctors with the ability to detect vulnerable plaques, setting the precedence for creating better stroke screening and treatment planning.

“Entrepreneur First invested in Sadaf and Milad as two talented individuals. We’ve always believed in the potential for deep tech companies created by outstanding individuals to build breakthrough technology companies which change the world. That’s what See-Mode is doing by giving hospitals a new way to strike back at the heart of one of the world’s most crippling medical conditions – strokes. We’ve backed them from the beginning, and are excited to see the success that comes next”, said Alice Bentinck, Co-founder of Entrepreneur First.

“Artificial Intelligence has many potential uses, but one of the most compelling is in the area of healthcare. Giving medical professionals the ability to better predict possible problems before they happen in an effort to lessen the risks of those problems is a powerful goal,” said Steve Leonard, Founding CEO of SGInnovate. He added: “See-Mode’s combination of machine vision and fluid dynamics is creating a new set of tools that doctors can use for the diagnosis of a person’s risk of stroke. The SGInnovate team has believed in the founders of See-Mode from the very beginning and we are proud to support their vision of improving clinical outcomes relating to stroke for patients around the world.”

“This venture, further backed by Australia-based Blackbird Ventures, has been making steady strides towards getting their products to the market, and is working closely with hospitals in Singapore and Australia”, said Niki Scevak, Partner at Blackbird Ventures. He added: “See-Mode is ushering in a new world where we can harness the collective intelligence of the medical community and ensure that it is able to be employed systematically via computers on every patient whose life has been affected by a stroke.“

ABOUT SEE-MODE TECHNOLOGIES
See-Mode Technologies Pte. Ltd. is an early-stage, medtech startup utilising artificial intelligence, computer vision and computational modelling to equip clinicians with a revolutionary solution to an age-old problem – accurate and reliable stroke prediction and treatment planning. Find out more at see-mode.com


ABOUT COCOON CAPITAL
Cocoon Capital Management Pte. Ltd. is a Singapore-based venture capital firm focusing on early-stage, technology companies across Southeast Asia with assets under management of SGD40m. The fund invests in enterprise tech companies within the medtech, fintech, insurtech and other deep tech verticals. It has done a total of 12 investments till date and differentiates itself by working closely with its portfolio companies to unleash their potential. Investments include Hapz.com, Poundit.com, SensorFlow.com, Hiip.asia, Dexecure.com, Lendela.com and See-Mode. Learn more at cocooncap.com

ABOUT ENTREPRENEUR FIRST
Entrepreneur First (EF) is a talent investor founded in London in 2011 by Matt Clifford and Alice Bentinck to support the world’s most ambitious individuals to build globally important companies. EF’s bespoke programme, the first of its kind in the world, invests time and money in outstanding individuals, helping them to find a co-founder, develop an idea and create a high-growth technology company from scratch. To date, EF has helped over 1,200 individuals build more than 200 companies, with a total valuation of US$1.5 billion. EF’s companies have been funded by many of the leading venture investors in Europe, Asia and Silicon Valley. EF itself is backed by some of the world’s best investors, including the founders of LinkedIn, DeepMind and PayPal and runs cohorts in London, Singapore, Hong Kong, Berlin, Paris and Bangalore.

ABOUT SGINNOVATE
SGInnovate believes that Singapore has all the resources and capabilities needed to tackle ‘hard problems’ that matter to people around the world. As part of their Deep Tech Nexus Strategy, it is focused on adding tangible value to the Singapore deep tech startup ecosystem in two key areas – development of human capital and deployment of investment capital. With the support of its partners and co-investors, SGInnovate backs deeply technical founders through equity-based investments, access to talent, and support in building customer traction. Their efforts are prioritised around transformational technologies such as Artificial Intelligence, Blockchain and MedTech which represent impactful and scalable answers to global challenges. SGInnovate is a private-limited company wholly owned by the Singapore government. For more information, please visit www.sginnovate.com

ABOUT BLACKBIRD VENTURES
Blackbird Ventures is a venture capital firm whose mission is to supercharge Australia’s most ambitious founders. Blackbird has a portfolio of over 65 companies including some of the most successful Australian startups such as Canva, Zoox, Safety Culture and CultureAmp. Their offices are in Sydney and Melbourne. Learn more at blackbird.vc

ABOUT ENTREPRENEUR FIRST
Entrepreneur First (EF) is a talent investor, founded in London in 2011 by Matt Clifford and Alice Bentinck to support the world’s most ambitious individuals to build globally important companies. EF’s bespoke programme, the first of its kind in the world, invests time and money in outstanding individuals, helping them to find a co-founder, develop an idea and create a high-growth technology company from scratch. To date EF has helped over 1,200 individuals build more than 200 companies, with a total valuation of US$1.5 billion. EF’s companies have been funded by many of the leading venture investors in Europe, Asia and Silicon Valley. EF itself is backed by some of the world’s best investors, including the founders of LinkedIn, DeepMind and PayPal and runs cohorts in London, Singapore, Hong Kong, Berlin, Paris and Bangalore.

Will Klippgen

Will is a Managing Partner with Cocoon Capital and brings over 12 years of early-stage investment experience in over 25 digital startups. In 1997 he founded Zoomit.com which became a third of Kelkoo.com, Europe's largest price comparison portal, sold to Yahoo in 2004.

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