![[Funding News] Healthtech Startup Mediwhale Raises $12 Mn in Series A2 Funding](https://startuprise.org/wp-content/uploads/2024/09/Funding-News-Healthtech-Startup-Mediwhale-Raises-12-Mn-in-Series-A2-Funding-2.webp "[Funding News] Healthtech Startup Mediwhale Raises $12 Mn in Series A2 Funding (2)")
The AI-driven medical diagnostics startup Mediwhale has disclosed $12 million in series A2 funding. Through this funding, general hospitals and clinics can take advantage of the momentum created by their technological breakthroughs and the quick uptake of their novel biomarker for the prevention of cardiovascular disease.
Korea Development Bank (KDB) led the funding round, and other investors like Mirae Asset Securities, IMM Investment, and Woori Venture Partners also participated. This investment entails secondary sales in addition to the issuance of new shares.
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Kevin Choi, CEO of Mediwhale, said, “I believe that our successful fundraising, even in a frozen capital market, is largely due to our excellent technology. With our pioneering technology, developed and commercialized as a world first, we aim to lead the global market in cardiovascular and metabolic disease management. We are determined to secure FDA De Novo approval by 2025, with plans to launch our product in the United States shortly thereafter. Additionally, to maintain a competitive edge, we will significantly enhance our AI performance and expand our product pipeline to include chronic kidney disease prediction.”
With this additional funding, Mediwhale plans to improve AI algorithms even further, get FDA approval for Reti-CVD, broaden its global presence, and create other products that estimate the risk of chronic kidney disease.
“Mediwhale is the first company in the world to develop and commercialize medical AI that can predict cardiovascular disease risk through a simple eye exam. The company demonstrates significant differentiation in both business performance and technological innovation. We have decided to invest actively, confident that Mediwhale will make history in AI-driven prediction of cardiovascular and metabolic diseases both domestically and globally,” said Korea Development Bank.
About Mediwhale
Mediwhale is the AI-empowered health diagnostics company that uses non-invasive retina scans to help prevent heart and kidney diseases. Mediwhale’s Reti-Intelligence suite of services uses deep learning algorithms to detect disease risks even before symptoms appear.
