Medipixel Secures KRW 17 Billion in Series B Funding for AI Cardiovascular Solution
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The South Korean medical AI startup, Medipixel, has secured KRW 17 billion in Series B funding with participation from investors such as Premier Partners, Company K Partners, IMM Investment, SBI Investment, IBK, along with existing investors like Quad Investment Management and Dayli Partners.
Medipixel has developed ‘MPXA,’ an AI solution that automatically identifies vascular stenosis in cardiovascular angiography and provides a numerical display of the severity. This innovation received approval from South Korea’s Ministry of Food and Drug Safety in 2021 and obtained FDA certification in the United States in March this year.
Notably, ‘MPXA’ completes the entire analysis process in just 1-2 seconds, serving as a real-time aid for doctors during procedures like stent placement. Medipixel has also finished the development of an upgraded product with advanced capabilities, ‘MPFFR,’ which can analyze a wide range of vascular angles and provide functional cardiovascular diagnoses. The launch of ‘MPFFR’ is imminent.
CEO Song Kyu-seok expressed the significance of this investment, stating, “Despite challenging investment conditions, our relentless pursuit of cutting-edge technology and future potential in the cardiovascular field has been widely acknowledged. This significantly strengthens our journey toward becoming a global leader in the cardiovascular industry.”
Medipixel is on the verge of finalizing a $4.5 million (approximately KRW 6 billion) supply agreement with India’s Innvolution Group, a manufacturer of cardiovascular angiographic medical devices. The company also has ambitious plans for expansion into other Southeast Asian countries, including Singapore and Malaysia.
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