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HomeFunding South Korea-Based AIRS Secures $20 Million in Series C Round Funding

[FUNDING NEWS] South Korea-Based AIRS Secures $20 Million in Series C Round Funding

AIRS Medical, a leader in robotics and artificial intelligence for healthcare applications, announced the closing of its Series C investment round. The company raised $20 million from seven Korean institutional investors.

Robotics for healthcare applications is offered by AIRS Medical. With entire pulse-sequence coverage and excellent resolution, its flagship product SwiftMRTM reduces scan times by up to 50% when compared to the standard of care. Deep learning technology is used to achieve this.

The investment, which was spearheaded by BSK Investment and Shinyoung Securities, demonstrates the company’s faith in both its main offering, SwiftMRTM, and its greater goal of transforming preventive healthcare via technological innovation.

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By using deep learning technology, SwiftMRTM can increase the speed of magnetic resonance imaging (MRI) scans by up to 50% when compared to standard treatment.

When radiology centres and hospitals integrate SwiftMRTM, they often see a 38% increase in patient throughput and a 22% reduction in business hours. This results in additional income of $44,000 per month and a $8,000 monthly operating expense savings.

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Delays in diagnosing patients are a common issue in healthcare, frequently occurring after symptoms have worsened. Worse consequences follow from this and a lack of resources.

Aiming to provide everyone with the best possible preventive care, AIRS Medical is growing quickly. SwiftMRTM, supported by a skilled crew, made its debut in Korea in 2021. Over half of the company’s annual recurring revenue (ARR) comes from the United States and Europe, where the technology has made a successful entry by 2023.

“We’re thrilled to receive this substantial support from our investors,” said Hyeseong Lee, CEO of AIRS Medical. “This funding will empower us to increase access to preventive healthcare services and create a healthier future for people around the globe.”

Acquiring this most recent round of investment positions AIRS Medical to expand rapidly and develop beyond the SwiftMRTM, an acclaimed product. In the end, the corporation hopes to improve patient outcomes globally by increasing its market share in foreign regions and funding research and development.

About AIRS

AIRS Medical, a prominent healthcare AI business, aims to make healthcare more patient-friendly by reducing medical industry inefficiencies with innovative technologies.

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