A Tokyo-based healthtech startup Ubie, has secured US$18.7 million in its series B funding round led by Suzuken, a Japanese pharmaceutical distributor. The company raised the funding of US$10.1 million in its previous funding rounds.
The company would utilize the new funds to expand its research and development capabilities, hire new talent for sales and engineering roles, and scale its products.
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The company was founded by Yoshinori Abe and Kota Kubo in the year 2017, operates AI Monshin, a saas product for hospitals, and an AI symptom checker app for individual users.
AI Monshin automatically asks medically relevant questions customized for every patient. It combines workflow-enhancing functions with clinical decision support to make medical record keeping more efficient. The company claims it can help diagnose 1,104 diseases and reduce interview time by around six minutes.
Meanwhile, its AI symptom checker could help users understand their symptoms better by answering questions from within an app. The startup officially released the service in April in response to the Covid-19 pandemic.
According to a report, last year, the Asian health tech sector saw nearly US$5 billion in total funding across 340 deals . China, India, and South Korea were the top three markets in terms of total deal value. Meanwhile, investments in Southeast Asia doubled to US$266 million.