Mediwhale Receives $9 Million Investment

Mediwhale, which works on artificial intelligence-powered retinal scanning, has raised $9 million in a Series A investment round. IPS Ventures, Woori Venture Partners, Innopolis Partners, BNK Venture Capital participated in the investment round led by SBI Investment. The South Korea-based startup was launched in 2016. The startup was founded by Young G. Lee, Kevin T. Choi and Dr. Tyler H. Rim. The startup designed an artificial intelligence-based non-invasive for early diagnosis of kidney and heart disorders. Non-invasive is exactly a retinal scanning system without surgery. It plays an active role in early diagnosis of diseases. The goal of the startup is to increase the usefulness and confidence of preventive care practices. It also aims to make preventive care more affordable.

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Mediwhale Aims for FDA Approval by 2024

Mediwhale co-founder Kevin Choi developed glaucoma at the age of 24. This rare disease in young people caused Kevin Choin to lose vision in half of his eye. Kevin founded Mediwhale with Tyler Rim, who treated him. The startup first produced the artificial intelligence-based Reti-CVD, which assesses the risk of cardiovascular disease (CVD).

The startup will use the investment to expand in the US in the future. It also aims to receive approval from the FDA by 2024. The South Korea-based startup is working to ensure that everyone can benefit from preventive healthcare. It makes both effective and simple artificial intelligence diagnostic solutions a reality.