Follow-on and New Investments
Atinum Investment, FuturePlay, Smilegate Investment, and Nextrans participated as follow-on investors, while IBK Capital, SL Investment, Hana Ventures, Samchully Investment, and Wooshin Venture Investment joined as new investors.
MedInTech, a startup developing medical smart endoscopes, announced on the 13th that it has secured KRW 20 billion (USD ~150 million*) in Series B funding.
This round included follow-on investments from existing backers Atinum Investment, FuturePlay, Smilegate Investment, and Nextrans, along with new investments from IBK Capital, SL Investment, Hana Ventures, Wooshin Venture Investment, and Samchully Investment. Following its seed funding in 2020 and a KRW 8 billion Series A round in 2022, MedInTech has now raised over KRW 28 billion in total funding, including this Series B round.
MedInTech is a startup founded in 2020 by CEO Chi-Won Lee and Vice President Myung-Jun Kim, who had been researching endoscopy-related technologies at the Korea Electrotechnology Research Institute (KERI), a government-funded research institute. Based on medical robotics technology, MedInTech’s solutions are more intuitive and user-friendly than conventional endoscopes. The company has also developed a motorized endoscope that is approximately 50% lighter than existing models. In addition, leveraging artificial intelligence, MedInTech possesses software technologies and products—including abnormality detection software—that enhance physician convenience and help reduce misdiagnosis.
Building on its motorized gastrointestinal endoscopy system and abnormality detection software, both of which have obtained Class II medical device approval, MedInTech plans to enter the market in earnest within the year. The company aims to further accelerate market entry through clinical trials conducted in collaboration with Seoul National University Hospital. It also plans to advance a range of AI-based convenience software technologies to further maximize the usability and effectiveness of its motorized endoscopy system.
MedInTech intends to use the newly raised funds to establish mass-production capabilities through manufacturing development and to support overseas market expansion. Atinum Investment commented, “MedInTech has developed a next-generation gastrointestinal endoscopy system based on the world’s first motorized control technology. Beyond simple localization, it demonstrates strong differentiation from global competitors in both hardware and software. With development and regulatory approvals completed, we expect full-scale commercial sales.”
CEO Chi-Won Lee stated, “We aim to transform the longstanding limitations of mechanical flexible endoscopes—unchanged for over 50 years—through medical robotics and artificial intelligence. MedInTech’s goal is to deliver medical devices to the global market that provide convenience for physicians and safety for patients.”
— Asia Economy, Reporter Daehyun Kim (kdh@asiae.co.kr)
View the original article
아시아경제 https://view.asiae.co.kr/article/2024051308532475686
뉴스1 https://www.news1.kr/articles/5413776
연합뉴스 https://www.yna.co.kr/view/AKR20240513076700017?input=1195m
머니투데이 https://news.mt.co.kr/mtview.php?no=2024051308480897979
벤처스퀘어 https://news.mt.co.kr/mtview.php?no=2024051308480897979
뉴스핌 https://www.newspim.com/news/view/20240513000313
이투데이 https://www.etoday.co.kr/news/view/2359270
동아사이언스 https://www.dongascience.com/news.php?idx=65380
데일리메디 https://www.dailymedi.com/news/news_view.php?wr_id=911816
로봇신문 https://www.irobotnews.com/news/articleView.html?idxno=34865
데일리안 https://www.dailian.co.kr/news/view/1360561/?sc=Naver
팜뉴스 https://www.pharmnews.com/news/articleView.html?idxno=243972
메디파나 https://www.medipana.com/article/view.php?news_idx=326335&sch_cate=F
헬스경향 https://www.k-health.com/news/articleView.html?idxno=72000
바라리안네트워크 https://byline.network/2024/05/13-357/
라포르시안 https://www.rapportian.com/news/articleView.html?idxno=206780
플래텀 https://platum.kr/archives/227701
약업신문 https://www.yakup.com/news/index.html?mode=view&cat=13&nid=294168
핀포인트뉴스 https://www.pinpointnews.co.kr/news/articleView.html?idxno=265271
이슈앤비즈 https://www.issuenbiz.com/news/articleView.html?idxno=43288
히트뉴스 http://www.hitnews.co.kr/news/articleView.html?idxno=54685
파이낸셜뉴스 https://www.fnnews.com/news/202405130842015374
Follow-on and New Investments
Atinum Investment, FuturePlay, Smilegate Investment, and Nextrans participated as follow-on investors, while IBK Capital, SL Investment, Hana Ventures, Samchully Investment, and Wooshin Venture Investment joined as new investors.
MedInTech, a startup developing medical smart endoscopes, announced on the 13th that it has secured KRW 20 billion (USD ~150 million*) in Series B funding.
This round included follow-on investments from existing backers Atinum Investment, FuturePlay, Smilegate Investment, and Nextrans, along with new investments from IBK Capital, SL Investment, Hana Ventures, Wooshin Venture Investment, and Samchully Investment. Following its seed funding in 2020 and a KRW 8 billion Series A round in 2022, MedInTech has now raised over KRW 28 billion in total funding, including this Series B round.
MedInTech is a startup founded in 2020 by CEO Chi-Won Lee and Vice President Myung-Jun Kim, who had been researching endoscopy-related technologies at the Korea Electrotechnology Research Institute (KERI), a government-funded research institute. Based on medical robotics technology, MedInTech’s solutions are more intuitive and user-friendly than conventional endoscopes. The company has also developed a motorized endoscope that is approximately 50% lighter than existing models. In addition, leveraging artificial intelligence, MedInTech possesses software technologies and products—including abnormality detection software—that enhance physician convenience and help reduce misdiagnosis.
Building on its motorized gastrointestinal endoscopy system and abnormality detection software, both of which have obtained Class II medical device approval, MedInTech plans to enter the market in earnest within the year. The company aims to further accelerate market entry through clinical trials conducted in collaboration with Seoul National University Hospital. It also plans to advance a range of AI-based convenience software technologies to further maximize the usability and effectiveness of its motorized endoscopy system.
MedInTech intends to use the newly raised funds to establish mass-production capabilities through manufacturing development and to support overseas market expansion. Atinum Investment commented, “MedInTech has developed a next-generation gastrointestinal endoscopy system based on the world’s first motorized control technology. Beyond simple localization, it demonstrates strong differentiation from global competitors in both hardware and software. With development and regulatory approvals completed, we expect full-scale commercial sales.”
CEO Chi-Won Lee stated, “We aim to transform the longstanding limitations of mechanical flexible endoscopes—unchanged for over 50 years—through medical robotics and artificial intelligence. MedInTech’s goal is to deliver medical devices to the global market that provide convenience for physicians and safety for patients.”
— Asia Economy, Reporter Daehyun Kim (kdh@asiae.co.kr)
View the original article
아시아경제 https://view.asiae.co.kr/article/2024051308532475686
뉴스1 https://www.news1.kr/articles/5413776
연합뉴스 https://www.yna.co.kr/view/AKR20240513076700017?input=1195m
머니투데이 https://news.mt.co.kr/mtview.php?no=2024051308480897979
벤처스퀘어 https://news.mt.co.kr/mtview.php?no=2024051308480897979
뉴스핌 https://www.newspim.com/news/view/20240513000313
이투데이 https://www.etoday.co.kr/news/view/2359270
동아사이언스 https://www.dongascience.com/news.php?idx=65380
데일리메디 https://www.dailymedi.com/news/news_view.php?wr_id=911816
로봇신문 https://www.irobotnews.com/news/articleView.html?idxno=34865
데일리안 https://www.dailian.co.kr/news/view/1360561/?sc=Naver
팜뉴스 https://www.pharmnews.com/news/articleView.html?idxno=243972
메디파나 https://www.medipana.com/article/view.php?news_idx=326335&sch_cate=F
헬스경향 https://www.k-health.com/news/articleView.html?idxno=72000
바라리안네트워크 https://byline.network/2024/05/13-357/
라포르시안 https://www.rapportian.com/news/articleView.html?idxno=206780
플래텀 https://platum.kr/archives/227701
약업신문 https://www.yakup.com/news/index.html?mode=view&cat=13&nid=294168
핀포인트뉴스 https://www.pinpointnews.co.kr/news/articleView.html?idxno=265271
이슈앤비즈 https://www.issuenbiz.com/news/articleView.html?idxno=43288
히트뉴스 http://www.hitnews.co.kr/news/articleView.html?idxno=54685
파이낸셜뉴스 https://www.fnnews.com/news/202405130842015374