Sky Labs, a global healthcare startup, has closed a 22.5 billion KRW (~$20 million USD) Series B round, which brings its total investments raised to about 34.3 billion KRW (~$30 million USD).
New investors, such as KB Investment, Korea Investment Partners, and LB Investment participated in this round along with prior investors, such as Atinum Investment, Anvil Asset Advisors, and Soo Investment Capital. The involvement of large domestic investors this time around can be attributed to the company’s technological competitiveness and business capabilities.
Sky Labs uses an AI-based cardiac monitoring platform CART-I consisting of a ring-shaped wearable medical device and an accompanying app for the users, as well as a web platform for doctors so that patients with atrial fibrillation can be monitored outside hospital walls. An irregular pulse wave is measured by automatically observing the blood flow in the finger through the PPG optical blood flow measurement sensor. This data is then sent to a cloud storage to detect and analyze atrial fibrillation through AI analysis, and the results are delivered to the user app and the doctors-only web.
The accuracy of atrial fibrillation detection had been certified through simultaneous conduction of product development and clinical research with leading domestic and international medical institutions. With this, they have obtained the Medical Devices Directive CE-MDD Global Product Certification, which is licensed to medical devices in Europe, as well as those approved by the Korean Food and Drug Administration. Sky Labs is the only Korean company to be invited to the European Heart Association (ESC) for the second consecutive year in the digital health sector, having been selected as a Technology Pioneer at the 2019 World Economic Forum and recognized for its technology and competitiveness in the global market.
Through this investment, the company plans to expand global clinical research in the UK, Germany, the Netherlands, and the US, as well as to strengthen international marketing in the US and European branches to target overseas healthcare markets. Also, Sky Labs aims to launch various chronic disease monitoring functions, while investing in hiring top personnel.