AIRS Medical, a healthcare startup based in South Korea has raised approximately $20 million in Series B funding. New investors have joined the round including Q Capital Partners and Hanwha Life, while Klim Ventures continues its support via follow-on investments since Series A.
Co-founded by graduates of Seoul National University in October 2018, AIRS Medical is a startup that enables digitalization of diagnostic tests based on AI and robotics technology in order to provide a better clinical experience for both patients and healthcare providers.
AIRS Medical demonstrated unparalleled deep learning technology in MR image reconstruction, consecutively winning 2019 and 2020 fastMRI Challenge hosted by Facebook AI Research (FAIR) and NYU Langone Health. The team has successfully developed and commercialized this technology into a product, SwiftMR™, to benefit a broader healthcare community.
AI-powered MRI imaging
SwiftMR™ is an AI-powered MRI reconstruction software that enhances MR images acquired under various conditions, contributing to higher throughput and better patient experience. It has received greenlight from Korea Ministry of Food and Drug Safety (MFDS) and US FDA in 2021.
Since its official launch in Korea in Q4 2021, SwiftMR™ has processed more than 130,000 MRI exams in total and handles on average 30,000 exams monthly. Having proven the business model in its home market, AIRS Medical is planning to expand its business to other parts of the world including the United States, Europe, Southeast Asia, and South America with the support of Born2Global and KOSME-MATTER US Market Adoption Program.
In March 2022, AIRS Medical acquired artiQ, an AI- and robotics-based startup, that shared the vision of a world without sickness. Through this acquisition, the company has successfully added on in-vitro diagnostics to its technology portfolio including venipuncture automation. AIRS Medical aims to introduce consecutive diagnostic test solutions that innovate the cost structure of the medical field based on exceptional technology and clinical expertise.
“We believe we can transform the healthcare ecosystem by solving its current analog-dependency with data-driven medicine,” said Hye-seong Lee, CEO of AIRS Medical. “With the funding secured from this round, we will be taking our innovative diagnostic solutions to the global market.”