Seoul-based healthcare startup Mediwhale, has recently closed a $9M Series A funding round, bringing its total funding to $12M. SBI Investment led the funding round,other investors included Woori Venture Partners, and previous backers BNK Venture Capital, Innopolis Partners and IPS Ventures.
The company has developed an artificial intelligence (AI)-powered non-invasive retina scan to diagnose cardiac and kidney disorders and more diseases through patient’s retinal photographs.
Mediwales first product Reti-CVD is an AI-powered diagnostic solution used to diagnose cardiovascular disease (CVD) in patients. The company claims Reti-CVD precision matched a computerised cardiac tomography (CT) scan in predicting potential CVD risk, while avoiding radiation exposure, and increasing accessibility due to potential availability in primary care settings, rather than dedicated testing facilities alone.
The primary patient targets for the solution are those with an increased risk of developing CVD in the future, such as diabetes and metabolic disease patients.
Mediwhale plans to use the funding to accelerate the commercialisation of Reti-CVD, aiming to obtain U.S Food and Drug Administration (FDA) clearance and implement U.S insurance coverage with a goal of final FDA approval by 2024.
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