Lunit, a leading Korean medical AI company, has raised KRW 200 billion in funding to accelerate its global expansion. The funding will be used to support the development of new products, expand into new markets, and hire new employees.

Lunit plans to use the funds as follows:

• Investments in affiliated companies: KRW 90.7 billion to expand into global markets and establish a corporate venture capital (CVC). The CVC will focus on long-term revenue generation, strategic mergers and acquisitions (M&A), and investments in global medical AI startups.
• Product development and new product development: KRW 50.7 billion to improve existing products and develop new products.
• New business development: KRW 40 billion to explore new business opportunities based on medical AI.
• Hiring overseas employees: KRW 20.4 billion to hire overseas employees for global expansion.

Lunit’s largest shareholder, Chairman Baek Seung-wook, and CEO Seo Beom-seok, as well as other key executives, will participate in the rights issue at 100%. This shows the company’s commitment to global expansion and growth.