​​South Korean AI imaging startup AIRS Medical scores $20M in Collection B funding

Medical AI startup AIRS Medical from South Korea has raised $20 million in a Collection B funding spherical participated by its new traders Q Capital Companions and Hanwha Life and its current investor Klim Ventures.

WHAT IT DOES

Based in 2018, the startup presents AI-based diagnostic checks and robotic applied sciences that enhance each affected person and healthcare supplier expertise. 

Its flagship product, SwiftMR, is an AI-powered MRI reconstruction software program that enhances MR photographs. Since its launch final 12 months, the software program as a medical system has been utilized in greater than 130,000 MRI examinations in South Korea. The software program has been accredited by the South Korean Ministry of Meals and Drug Security and the US Meals and Drug Administration. 

AIRS Medical can be growing an automatic answer for venipuncture known as AIIV, which is presently being examined in scientific settings in South Korea. 

Since buying fellow South Korean AI startup artiQ in March, the corporate has added in-vitro diagnostics to its expertise portfolio.

WHAT IT’S FOR

In accordance with a press launch, the startup’s newest funding will go to its international enlargement efforts. By means of the assist of each startup accelerator Born2Global and the KOSME-MATTER US Market Adoption Program, AIRS Medical has been introducing SwiftMR in the USA, Europe, Southeast Asia, and Latin America.

“By means of the Collection B funding we have secured, we will probably be taking our revolutionary diagnostic options to the worldwide market,” stated CEO Hye-Seong Lee.

MARKET SNAPSHOT

South Korea’s medical AI panorama is presently dominated by two firms which have lately gone public. Final 12 months, VUNO raised $33.6 million from its preliminary public providing. Since then it has acquired clearance from varied regulatory businesses, in addition to partnerships to combine its AI medical imaging options.

In July this 12 months, Lunit debuted on the buying and selling board of the Korea Trade, elevating $37 million. Previous to its IPO, the corporate has been securing contracts abroad to roll out its AI radiology options.

The global market for AI in healthcare is anticipated to achieve $67 billion in worth by 2027 from $6.9 billion final 12 months, rising at a 46% CAGR.

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