Press release
L&G invests to scale AI-powered cardiology solution to tackle undiagnosed heart failure
The company is commercialising a breakthrough technology in the detection of heart failure.
31 Jul 2025
Full press release
L&G announces an investment in Ultromics, a British AI-powered health technology company that uses breakthrough diagnostic tools to detect heart failure.
The investment is part of Ultromics’ $55m Series C funding round, which was co-led by L&G, Allegis Capital and Lightrock, with continued support from Oxford Science Enterprises, GV, Blue Venture Fund and Oxford University. Major US health systems, including UChicago Medicine’s venture investment vehicle, UCM Ventures, and UPMC Enterprises also participated in the round.
Ultromics is a pioneer in AI-driven cardiology solutions, serving healthcare providers including hospitals and clinics by integrating its technology into existing medical imaging workflows.
The company addresses a large and underserved cardiovascular disease and heart failure market. In the US alone, heart failure impacts 6.7m people1 and is the leading cause of hospitalisation, especially those with harder-to-detect forms of heart failure like HFpEF and cardiac amyloidosis.
Ultromics is a commercial stage spinout of Oxford University founded in 2017 by Ross Upton, with initial intellectual property developed and licensed out of Oxford University Innovation and supported from the early stages by Oxford Science Enterprises.
The investment is made by L&G’s asset management business, building on its strategy of investing in UK university spinouts developing innovative solutions across knowledge-intensive industries such as healthcare, deep tech and clean energy.
Ultromics has rapidly expanded its platform capabilities and US market presence during the past year. In 2024, Ultromics received US Food and Drug Administration (FDA) approval for EchoGo Amyloidosis, a software-only medical device used for the detection of cardiac amyloidosis, an underdiagnosed type of heart failure. This was followed in 2025 by the launch of EchoGo Score, a new feature that adds AI-driven probability scoring to the core EchoGo Heart Failure product, complementing its existing suite of heart failure solutions. The company’s clinical advances continue to be supported by US reimbursement, strengthening Ultromics’ US scale.
The proceeds of the funding round will be used to accelerate US commercialisation, improve product automation, and expand its product to new cardiac disease areas beyond heart failure.
Alastair Stewart, Head of Investments, Venture Capital, L&G: “Ultromics has established itself as an early-mover in the large and underserved cardiovascular disease market, having developed one of the first commercially available AI-powered diagnostic echocardiogram technologies. This successful Series C round is a testament to the massive opportunity for cutting edge technology to transform how clinicians can detect and treat serious cardiovascular diseases that impacts millions of people every year.”
Ross Upton PhD, CEO and Founder, Ultromics: “The reality is, hospitals already have the data, they just haven’t had the tools to extract the more subtle diagnostic signals from it. By analysing routine echocardiograms with AI, we’re helping clinicians identify high-risk patients earlier, enabling intervention before disease progresses. We’ve spent years building our platform to fit into clinical workflows, with no extra hardware and no new friction, and this funding helps us scale that across the U.S. at a moment when health systems are actively looking to combat the growing heart failure crisis.”
References
1Centre for Disease Control, May 2024.
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