Mediwhale, an innovative AI-powered health diagnostics company, has successfully announced a $12 million Series A2 investment. This funding reflects the company’s technological advancements and the growing adoption of its groundbreaking biomarker aimed at preventing cardiovascular diseases in general hospitals and clinics.
Key Highlights of the Funding Round:
- Leading Investors:
- The funding round was led by Korea Development Bank (KDB).
- Participation from Woori Venture Partners, IMM Investment, Mirae Asset Securities, and other investors.
- Investment Details:
- The financing includes the issuance of new shares and secondary sales.
Funding History:
- Series Pre-A Funding:
- $2 million raised in 2021.
- Series A Funding:
- $9 million raised in 2023.
- Recent Series A2 Investment:
- $12 million raised, reinforcing Mediwhale’s growth trajectory.
Innovative Product: Reti-CVD
- Standard of Care:
- Mediwhale is revolutionizing early prevention of cardiovascular disease using AI-powered retina scans.
- Product Features:
- Reti-CVD autonomously assesses future cardiovascular disease risk through an eye scan.
- Offers a simple, radiation-free test with accuracy comparable to coronary artery calcium scoring from cardiac CT scans.
- Adoption and Approval:
- Since June 2023, Reti-CVD has received approval for private reimbursement in Korea.
- Utilized in over 7,200 cases across 57 medical institutions by August 2024.
Future Plans with New Capital:
- Enhancements:
- Continued development of AI algorithms.
- Regulatory Goals:
- Aiming for U.S. FDA approval for Reti-CVD.
- Global Expansion:
- Plans to extend global presence and develop new products, including chronic kidney disease risk prediction.
Statements from Leadership:
- Korea Development Bank:
- “Mediwhale is pioneering medical AI predicting cardiovascular disease risk via eye exams, showcasing remarkable business performance and technological innovation.”
- Kevin Choi, CEO of Mediwhale:
- “Our fundraising success in a challenging capital market highlights our advanced technology. We aim to lead global cardiovascular and metabolic disease management, targeting FDA De Novo approval by 2025.”
Mediwhale’s recent funding reflects its innovative approach in the healthcare sector. With plans for global expansion and product enhancement, Mediwhale is poised to make a significant impact in the realm of AI-driven health diagnostics.
