Photo courtesy of AITRICS
Korean AI company AITRICS has secured 35 billion won ($24 million) in a Series C funding round led by its existing investors, Premier Partners, Hanriver Partners, Mirae Asset Venture Investment, and ShinYoung Securities-BSK Investment.
New investors, including KB Securities-Solidus Investment, SV Investment, and Mirae Asset Capital, also participated.
This brings its investment raised to date to 75 billion won ($51 million).
WHAT'S IT FOR
In a media statement, AITRICS said fresh funding will go to enhancing the functionalities of its flagship product, VitalCare, an AI-powered inpatient deterioration prediction software, and its upcoming large language model-driven clinician copilot, V.Doc Pro.
The funding will also support R&D of AI solutions in the pipeline and "other core strategic initiatives."
AITRICS raised 27.1 billion won (around $20 million) in a Series B funding round last year.
THE LARGER CONTEXT
AITRICS also disclosed plans to enter more Asian markets, targeting entry into Vietnam and Hong Kong, after setting up a subsidiary in Japan in March.
In May, it received a clearance from Hong Kong – its fourth regulatory approval – for its AI software.
The Korean company is currently collaborating with Mayo Clinic on new medical AI models. It is leveraging the partnership to expand further across the United States and kick off clinical trials of its flagship solution there.
