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Business Wire
3 days ago
- Business
- Business Wire
DESKi Closes $6M Seed Round to Bring AI-Powered Heart Scans to Market
BORDEAUX, France--(BUSINESS WIRE)--DESKi, a healthtech company developing AI-powered diagnostic tools in collaboration with clinicians and researchers, today announced the close of a $6 million seed round to support the U.S. and global market launch of its FDA-approved cardiac imaging software, HeartFocus. 'This funding moves us one step closer to a world where early heart disease detection is possible at any point of care,' said Dr. Bertrand Moal, MD, PhD, CEO and co-founder of DESKi. The seed round was led by Racine², an impact-focused fund managed by Serena and Makesense, with participation from BNP Paribas Développement, Épopée Gestion, Good Only Ventures, Better Angle, and NACO, the Nouvelle-Aquitaine regional fund advised by M Capital. This group of leading European health and impact investors brings not only capital but deep alignment with DESKi's vision to democratize access to early, AI-enabled cardiac care on a global scale. This milestone builds on growing momentum for HeartFocus, which recently received FDA clearance, along with a Predetermined Change Control Plan (PCCP) that makes it easier to update and expand the software over time. Clinical studies also showed that even first-time users, guided by HeartFocus AI, can capture diagnostic-quality heart scans. 'This funding moves us one step closer to a world where early heart disease detection is possible at any point of care,' said Dr. Bertrand Moal, MD, PhD, CEO and co-founder of DESKi. 'It allows us to continue improving HeartFocus and ensures that more providers can access the tools they need to deliver life-saving diagnoses.' Heart disease remains the leading cause of death in the U.S. and around the world, yet access to echocardiography is often limited by a shortage of trained specialists. HeartFocus bridges this gap with real-time AI guidance that enables any healthcare professional to perform cardiac ultrasounds after just a few hours of training, making early diagnosis possible even in primary care, rural clinics, and other resource-limited settings. 'With Heartfocus, DESKi is tackling one of the most urgent challenges in healthcare: how to make life-saving diagnostics available far beyond the walls of a hospital,' said Léa Zaslavsky, Partner at Racine². 'We are proud to lead this round and support the company's evolution from clinical validation to real-world impact.' 'We invest in solutions that improve the patient journey for better care at better costs,' said Sophie Pierrin Lepinard, Director of Partnerships at BNPParibas Développement. 'We believe HeartFocus is uniquely positioned to transform how cardiovascular disease is detected and managed worldwide, with faster access, and we're excited to continue supporting the team as they bring innovation to a variety of care settings.' 'Épopée is honored to support this milestone and contribute to the international expansion of a high-impact ultrasound solution' said Camille Le Roux Larsabal, VC Partner at Épopée Gestion. For more information, visit About HeartFocus HeartFocus is a revolutionary, AI-driven heart exam software that empowers any healthcare professional to perform world-class echos from any device, anywhere. Created in 2023 by French brothers Bertrand and Olivier Moal, HeartFocus leverages proprietary and ground-breaking algorithms trained on over 10 million data points and validated through clinical trials. Bertrand, a Medical Doctor with a PhD in biomechanical engineering, and Olivier, a Berkeley and EPFL engineering alum, were moved by the devastating impact of cardiovascular disease exacerbated by increasingly overburdened healthcare systems. Driven by the belief No heart can wait™, HeartFocus provides a life-saving solution for heart patients, facilitating early detection and disease prevention. In 2024, HeartFocus was awarded the coveted France 2030 Award by the French Ministry of Health and is currently partnered with several US and European app platforms and Software Development Kit providers to bring the technology to healthcare providers globally. HeartFocus is the latest offering by DESKi, a provider of innovative AI products developed in conjunction with medical practitioners and researchers. For more information visit About Serena and Racine 2 Serena is one of Europe's leading venture capital funds, with 1 billion euros under management. In February 2025, the fund was recognized among the Top 5% value-add seed investors by Dealroom. Founded in 2008, Serena invests at early stages, from seed to series A, and supports innovative and ambitious entrepreneurs' success to serve a better world. Born of the profound conviction that a venture capital fund should be at the service of its portfolio companies, Serena has set up the largest operational platform team in Europe and the most active startup community, the Serena Squad, with more than 550 active C-levels. Serena focuses on AI, SaaS, Climate Tech, Deep Tech, and Impact. Serena has invested in more than 100 startups with several international success stories such as Dataiku, Malt, The Fork, Electra, Descartes Underwriting, Accenta, Lifen, and AramisAuto. Combating climate change, protecting biodiversity, promoting sustainability, diversity and inclusion are at the heart of Serena's DNA. Racine 2 is an impact investment fund operated by makesense and Serena for MGEN. With €85 million, it supports innovative and ambitious companies that generate a positive impact on society and its environment. The fund focuses on 4 areas: physical activity and sports, sustainable lifestyles, education for all, and preservation of the environment and health.
CBC
28-05-2025
- General
- CBC
Independent engineering report says city's response to water main rupture met professional standards
A report conducted by the Association of Professional Engineers and Geoscientists of Alberta, says pre-stressed concrete cylinder pipe, or PCCP, was to blame for the Bearspaw South Feeder Main failure.
Los Angeles Times
19-05-2025
- Business
- Los Angeles Times
Los Angeles Investment Firm PCCP Acquired 76-building Portfolio for $540 Million
PCCP LLC, a Los Angeles-based investment firm with $25.3 billion in assets under management, acquired a portfolio of 76 Bay Area apartment buildings across San Francisco and Oakland from Veritas Investments Inc. and Ivanhoe Cambridge Inc. for approximately $540 million, according to public records. The portfolio consists of 1,770 units and traded for approximately $305,000 per unit. Financing included $430 million of senior debt that was financed by German American Capital Corp. PCCP was founded in 1998 and handles equity investments, debt financing and advisory services for commercial real estate properties. The company has offices in four cities and more than 140 total employees. Information for this article was sourced from PCCP.
Business Upturn
14-05-2025
- Business
- Business Upturn
Indian Hume Pipe reports Rs 558 crore FY25 profit, announces special dividend on land sale
The Indian Hume Pipe Company Ltd (IHP) on Wednesday reported a net profit of ₹558.05 crore for the financial year ended March 31, 2025, sharply higher than ₹77.63 crore in the previous year. The profit includes a one-time exceptional gain of ₹545.22 crore from the sale of freehold land in Yelahanka, Bengaluru to Godrej SSPDL Green Acres LLP for ₹559 crore. As part of the proceeds utilisation, the company has recommended a special dividend of ₹4 per share, in addition to a regular dividend of ₹1.80 per share, taking the total proposed dividend to ₹5.80 per share (290%), subject to shareholder approval. Q4 earnings impacted by lower operating income For the fourth quarter (Q4FY25), IHP reported total income of ₹395.23 crore, slightly lower than ₹407.29 crore in the same quarter last year. EBITDA for the quarter stood at ₹59.10 crore, down from ₹77.07 crore a year ago. Net profit surged to ₹499.26 crore from ₹43.67 crore in Q4FY24, primarily due to the land transaction gain. Excluding the exceptional item, profit before tax for the quarter was ₹38.62 crore, compared to ₹58.06 crore in the corresponding period. Order book strength and manufacturing expansion The company received new orders worth ₹1,325.37 crore during FY25, with nearly 48% of the order value attributable to in-house manufacturing components like PCCP and BWSC pipes, leading to expectations of improved margins and reduced working capital needs. To meet growing demand, IHP expanded capacities at its Walwa and Dhule plants in Maharashtra, commissioning both by March 2025 at a combined capex of ₹46 crore, funded entirely through internal accruals. The enhanced annual capacity of 1,29,060 MT is expected to yield sales potential of ₹240 crore. As of May 8, 2025, the company's order backlog stood at ₹4,002.48 crore, up from ₹3,698.17 crore a year ago. IHP is also the L1 bidder in four projects worth ₹769.43 crore. Completion of large infrastructure projects IHP successfully completed 12 water infrastructure projects during the year across Uttar Pradesh, Rajasthan, Gujarat, Tamil Nadu, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh, with a combined contract value of ₹2,437.74 crore. Real estate ventures progress in Pune The company shared updates on two real estate joint ventures: Dosti Greenscapes (Hadapsar, Pune): 9 towers launched out of 13, covering over 8.4 lakh sq ft of usable carpet area; 1,025 units launched across four phases. Kalpataru Blossoms (Vadgaon, Pune): Three towers under development with 2.8 lakh sq ft of RERA carpet area and over 4.3 lakh sq ft of usable carpet area. As of May 8, 2025, 538 units had been booked in Dosti Greenscapes (₹416.85 crore value), and 92 units booked in Kalpataru Blossoms' Plot A (₹172.03 crore value), with IHP's share amounting to ₹158.40 crore and ₹55.91 crore, respectively. Capital allocation and future outlook From the Bengaluru land deal proceeds, ₹376 crore has been kept as fixed deposits with SBI for future capex and as collateral security, while ₹92 crore has been parked in money market mutual funds, partially earmarked for working capital reduction and the proposed special dividend payout of ₹21.07 crore.
