Sleeptech ‘BRlab’ raises 7 billion won in new funding
BRLab, a South Korean digital healthcare and sleeptech company, announced on Feb. 20 that it has received KRW 7 billion in funding.
The funding was led by Daol Investment, KB Securities, Insight Equity Partners, Tigris Investment, Now IB Capital, BDC Labs, Yukyung PSG, Aju IB Investment, and Cosign Investment.
“Although this financial investment exceeded our funding goal, we have finalized the amount of KRW 7 billion for further strategic investments from major companies. We are currently in the process of receiving strategic investments from major companies we are collaborating with and plan to finalize SI investments in the first half of 2023,” said BRLab.
To date, the company’s cumulative investments have totaled approximately KRW 9 billion, and the new investments, which exceeded the target, are significant in that they actively stimulate the investment market, which has been frozen by the deteriorating economy.
BRLab is a digital healthcare and sleep tech company that was started by the Seoul National University College of Medicine and the Biosignal and Information Research Institute, which has been studying vital signs and sleep. The company has more than 20 years of cumulative research on sleep. More than 65 researchers have published more than 150 international journal articles and registered more than 45 patents through research based on more than 20,000 hours of polysomnography data.
Our sleep platform works naturally, without the need for users to wear or control any equipment, making it a natural part of their daily routine. It is characterized by the ability to continuously measure sleep data while leading a normal daily life, leading to a significant improvement in sleep quality based on high accuracy. The reason behind the success of attracting 7 billion won in new investment is its market competitiveness based on its technology.
Our main technologies include ‘non-binding biometric information and sleep signal monitoring technology’ and ‘parasympathetic nerve activity and deep sleep enhancement and disease improvement technology’, which have the highest level of accuracy and validity compared to similar technologies reported in academia. In addition, data-based user state estimation and cognitive behavioral protocols (AI coaching) are also among the key technologies that have been verified through years of research.
BRlab is currently creating products and services utilizing vital signs and sleep monitoring and improvement technologies with various domestic and international partners. In the first half of 2023, we plan to launch consumer and wellness products and services utilizing our monitoring and improvement technology, and we are in the process of obtaining IRB approval in February and KC, FCC, and CE certifications for the monitoring and improvement module to certify medical devices by indication.
In addition, as a long-term project, BRLab is advancing the research on cognitive function improvement through deep sleep enhancement published in the Sleep journal (Choi et al., Weak closed-loop vibrational stimulation improves the depth of slow-wave sleep and declarative memory consolidation, Sleep, 2021) to improve cognitive function and prevent dementia in the short and long term.
“As the sleep tech market has grown globally in recent years, there are many new technologies and companies, and there is a lot of hype and noise,” said Lee Jong-min, CEO of BRLAB. “We plan to continue to create meaningful products and services for users and society with domestic and foreign partners based on our high-quality technology.
- BigWave Robotics Connecting Buyers and Suppliers of Robots Raises 9.8 Billion KRW in Series A Funding
- KITA-KDB to host global startup fair ‘NextRise’ in June
- Livestock piece investment platform ‘ban cow’ raises KRW 5.8 billion in Series A funding
- Style commerce platform ‘ABLY’ raised 50B won funding
- Resell platform ‘Kream’ is close to unicorn with 50 billion KRW in funding
- Korea to Participate as the ‘Country of the Year’ in VivaTech 2023, Europe’s Biggest Start-up Event
- Kakao Mobility acquires UK-based Splyt… Targeting overseas markets
- ONDA to Provide PMS Solution to Vietnam’s Livie, Entering Global Hotel Market
- Fine stay curation platform ‘Stayfolio’ acquires AROUND FOLLIE
- Autonomous robotics platform Neubility raises 3 billion won from Samsung Venture Investment
