Sky Labs (CEO Lee Byung-Hwan), a global healthcare device company, has attracted 20.7 billion won ($15.3 million) in the Series C round investment. The cumulative investment amount is approximately 54.8 billion won ($40.4 million). Korea Development Bank (KDB), K2 Investment Partners, Devsisters Ventures, SJG Partners, and Open Water Investment participated in this investment.
Sky Labs‘ “CART BP” is a ring-shaped, cuffless continuous blood pressure monitoring device, unlike the existing arm cuff type. Since blood pressure can be measured and monitored continuously for 24 hours, hypertensive patients can check their blood pressure data at different times and adjust the dosage of their medication. Patients can also improve their lifestyle habits and monitor their effects by tracking their blood pressure levels according to their activities such as sleep, stress management, exercise, drinking, and taking blood pressure medication. With this feature, CART BP helps hypertensive patients to control their blood pressure and further helps to prevent cardiovascular diseases. The paper on CART BP’s blood pressure measurement algorithm technology was published in the “Scientific Reports” of the world-renowned academic journal “Nature”, and through the publication, Sky Labs’ technology was spotlighted worldwide.
Lee Seung-woo, Managing Director of Devsisters Ventures, which participated in this investment, said, “Sky Labs has made it possible to measure blood pressure continuously for 24 hours, which has been difficult in the existing medical environment. In addition, the company has developed wearable devices and AI algorithms, and has completed the clinical validation and approval process for the technology.” He continued, “It is now easier for medical staff to obtain information about the condition of hypertension patients. Based on this, I think if new medical services such as continuous blood glucose monitoring devices are also applied, it could become an innovative model for a future AI medical system.”
Sky Labs CEO Lee Byeong-Hwan said, “CART BP opens a new horizon as it is a continuous blood pressure monitor that monitors blood pressure over a long period of time. Based on this round of investment, we plan to secure evidence of our product’s effectiveness by conducting clinical research to meet the criteria required by both domestic and international medical societies in the field of blood pressure. We also plan to develop our technology to a world-class level, obtain overseas regulatory approvals for our products, and accelerate product marketing in overseas markets”.
Sky Labs is a healthcare technology company located in Pangyo Techno Valley, Gyeonggi-do Province. CART BP received approval from the Ministry of Food and Drug Safety, and in June 2023, a distribution agreement for CART BP was signed with Daewoong Pharmaceutical for the domestic market. The company also plans to distribute its products to hospitals across the country starting in October, and to begin online sales to general consumers.
For inquiries and connections with Korean tech companies mentioned in this article, contact us at [email protected]. We’re here to facilitate valuable partnerships.
Also Read,
- Kainos Medicine Demonstrates Long-Term Effectiveness of its AIDS Treatment Drug ACC008 in Phase 3 Clinical Trial
- Lee Won-jun and Park Kyu-tae, co-founders of Avalve, a startup with the AI Smart Farm Solution, selected by Forbes as one of the most influential leaders under the age of 30 in Asia
- Entertech startup VWX Labs secures additional seed Investment from 1Billion Partners for its artist career platform ‘Talented’
- Hanwha Aerospace Invests in US Startup “Forge Nano” for Battery Life Extension Technology
Keep tab on latest news in the Korean startup ecosystem & follow us on LinkedIN, Facebook, and Twitter for more exciting updates and insights.
