SEOUL, South Korea, August 19, 2022 — A healthcare firm from South Korea called AIRS Medical, a part of the Born2Global Centre, recently declared that it had secured almost USD 20M in Series B funding. The startup’s Series A investment round included new investors Q Capital Partners and Hanwha Life and additional funding from Klim Ventures.
To improve the clinical experience for both patients and healthcare providers, the startup AIRS Medical was co-founded by alums of Seoul National University in October 2018. It uses digitalized AI-based diagnostic testing and robotics technology.
Awarded for their deep learning MR image reconstruction solution, AIRS Medical won the 2019 and 2020 fastMRI Challenges, which were jointly organized by Facebook AI Research (FAIR) and NYU Langone Health. Following these victories, the startup developed and successfully marketed its technology, known as SwiftMRTM, and has been using it to help the more significant healthcare industry.
Hye-Seong Lee, CEO of AIRS Medical, stated:
“We believe we can alter the healthcare ecosystem by solving the present dependency on analogue machines by replacing them with data-driven medicine. We will bring our cutting-edge diagnostic solutions to the global market through the Series B funding we’ve acquired.”
More about AIRS Medical:
In order to improve patient experience and increase institutional efficiency in areas where a lack of productivity restricts therapeutic value, Seoul, Korea-based AIRS Medical Inc., formed in October 2018, is a medical AI startup.
SwiftMRTM is MRI reconstruction software powered by AI that improves MR images recorded under varied settings, leading to more accurate data and a better patient experience. The software received endorsements from the US FDA and the Korea Ministry of Food and Drug Safety (MFDS) in 2021. SwiftMRTM has been used for more than 130,000 MRI scans since its official commercial introduction in Korea in the fourth quarter of 2021, or an average of 30,000 exams per month.
With the assistance of Born2Global and the KOSME-MATTER US Market Adoption Program and following the successful implementation of the software’s business model in the local market, AIRS Medical is now offering its software in other regions of the world.
AIRS Medical purchased artiQ in March 2022. This AI and robotics-based firm matched AIRS Medical’s goal of creating a future free of disease. Through the acquisition, AIRS Medical effectively expanded its technology portfolio, including venipuncture automation, to include in-vitro diagnostics. In the future, AIRS Medical hopes to provide successive diagnostic test solutions that reinvent the cost structure of the medical business by utilizing its superior technology and clinical knowledge.
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