AI All Bio-HealthCare Funding Startup News in Korea (Korean Startup News)

Promedius Secures KRW 11.2 Billion in Series A Funding for Medical AI Advancements

2024-03-12 < 1 min read

Promedius Secures KRW 11.2 Billion in Series A Funding for Medical AI Advancements

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The South Korea-based medical AI startup Promedius has recently secured an additional investment of KRW 11.2 billion in a Series A funding round, pushing the total cumulative investment to over KRW 13.5 billion.

This funding round was led by Stassets Investment, a specialized venture capital firm in the biotech and healthcare sector, with participation from Korea Investment Partners, Woori Venture Partners, Crit Ventures, and others. Additionally, strategic investments were made by DK Medical Systems, a leading X-ray equipment manufacturer in Korea, and Big Move Ventures, the corporate venture capital arm of Bumin Hospital, promising broader collaboration in the healthcare field.

Spun off from the Medical Image Intelligence Lab at Seoul Asan Medical Center, Promedius focuses on developing and commercializing AI technology that automatically analyzes the risk of osteoporosis in patients using chest X-ray images.

While the conventional DXA examination, the standard diagnostic method for osteoporosis, provides precise measurements of bone density, it faces global accessibility challenges. In response, Promedius aims to early identify individuals at risk of osteoporosis using easily obtainable chest X-rays, facilitating timely DXA examinations for early diagnosis and treatment, ultimately preventing fractures.

Promedius CEO Bae Hyun-jin expressed excitement about the Series A2 investment, stating, “With this investment, we can enhance our AI solutions for the early detection and management of musculoskeletal and metabolic diseases, including osteoporosis.” He added, “We will strive to globally implement the company’s vision of ‘Delaying aging through AI.'”

[Korean Medical AI Startup News]

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