Seoul-based startup InHandPlus has successfully raised 3 billion won (USD 2.3 million) in a Series A funding round, bolstering the development of its personalized medication management and remote patient monitoring system. The innovative solution integrates AI technology into smartwatches, providing users with a comprehensive healthcare support platform. The investment round saw participation from existing investors IPSVentures and Strong Ventures and new investors Maple Investment Partners, MediCNC, GenAxis, and Muirwoods Ventures.
InHandPlus’s proprietary AI smartwatch leverages advanced analytics to track and analyze user actions, enabling the system to understand medication patterns and deliver personalized medication management services. The seamless integration with the smartwatch allows for automatic analysis, making it particularly accessible for individuals managing chronic diseases, mental health conditions, and senior citizens. The versatility of InHandPlus’s AI smartwatch extends beyond medication tracking to include the analysis of various medical devices such as pills, injections, ointments, eye drops, inhalers, blood glucose meters, and even specific foods. This expansive range of services positions InHandPlus to cater to diverse healthcare needs.
Muirwoods Ventures’ director, Yoo Ji-hye, expressed confidence in InHandPlus’s AI-powered automatic medication management solution, highlighting its potential to drive innovation in the digital healthcare sector, including non-face-to-face clinical trials. The investment from Muir Woods Ventures and other prominent firms underscores the growing recognition of InHandPlus’s technological prowess and ability to shape healthcare’s future.
In response to the investment, Hwi-Won Lee, CEO of InHandPlus, outlined the company’s strategic goals, stating that the funding will facilitate advancements in the AI smartwatch technology, enabling InHandPlus to make significant strides towards establishing a global presence. Furthermore, the company aims to position its AI smartwatch as a primary care physician on the wrist, revolutionizing how individuals manage their healthcare needs.
With the Series A funding secured, InHandPlus is poised to enhance its AI-powered medication management system further, expand its customer base, and forge strategic partnerships to facilitate its entry into the global market. As the demand for remote healthcare solutions continues to grow, InHandPlus is well-positioned to play a pivotal role in transforming the healthcare landscape with its cutting-edge technology and commitment to improving patient outcomes.
