Welt Raises 14 Billion KRW to Accelerate SleepQ Commercialization and Global Reach


Korean-based company Welt, which develops digital therapeutics, has secured 14 billion KRW (approximately $12 million USD) in Series C funding. This round was led by Envisioning Partners, with participation from the Korea Development Bank(KDB), IMM Investment, Shinhan Venture Investment, and Handok.

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Welt’s insomnia digital therapeutic, SleepQ, which received approval from Korea’s Ministry of Food and Drug Safety last April, began its first prescriptions in Korea on June 12th. The company expects provisional registration this year and has started full-scale commercialization with Handok. Handok, a strategic investor, also participated in the Series B round and continues its involvement in Series C.

Welt is also planning to accelerate its global expansion, starting with Germany this year. The company has established research agreements with major German medical universities and is preparing for local clinical trials. In February, Welt became the first Asian company to partner with the German Digital Health Association. Europe, particularly Germany and France, has already set reimbursement rates for digital therapeutics, with 600,000 prescriptions issued in Germany alone.

Ji-eun Cha, a partner at Envisioning Partners, stated, “There is a growing societal demand for digital healthcare solutions that go beyond supplementary health tools to provide ultimate treatment. Welt is expected to enhance the accessibility of cognitive-behavioral therapy by providing clinically validated digital therapeutics, thereby reducing the social costs associated with medication side effects, treatment abandonment, and failure.”

Seong-jin Kang, CEO of Welt, commented, “This investment will significantly accelerate our domestic commercialization efforts, as well as the research and development of our pipeline and global expansion. The experience and insights of our new investors will greatly contribute to Welt’s growth.”

Welt, a spin-off from Samsung Electronics, is recognized as one of the fastest-growing companies in the digital therapeutics industry. Including this latest funding, the company has raised a total of 28 billion KRW (approximately $24 million USD) and plans to proceed with selecting an underwriter for its IPO.

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  1. […] Welt Raises 14 Billion KRW to Accelerate SleepQ Commercialization and Global ReachKorean-based Welt raised 14 billion KRW in Series C funding, aiming to commercialize its SleepQ therapeutic and expand into Europe starting with Germany. […]

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