ImpriMed, a Mountain View, CA-based AI precision medicine company, has raised KRW 30 billion in Series A funding.
The investment was led by SoftBank Ventures, with participation from Han River Partners, SK Telecom, KDB Silicon Valley, Ignite Innovation Fund, Samyang Chemical Group, Murex Partners, and Byuksan.
Founded in 2000, SoftBank Ventures is the corporate venture capital arm of SoftBank Group based in Seoul, South Korea. The firm seeks to invest in consumer products, consumer services, information technology, big data, virtual reality, e-commerce, mobile, artificial intelligence, machine learning, and technology-based sectors in Korea, Singapore, China, Israel, and the United States.
ImpriMed Use of Funds
The company plans to use the funding to develop and commercialize precision medicine services for both companion animals and human cancer patients.
ImpriMed was founded in Silicon Valley by Lim Sungwon and Koo Jamin to provide immediate solutions for cancer patients who need effective treatments. ImpriMed provides patient-tailored cancer drug efficacy prediction services using AI technology, with a focus on companion animals like dogs. The service is currently being used by over 4,700 dogs by over 250 oncology veterinarians at animal hospitals across the United States. The company has already secured precision medicine support technology for people with leukemia and lymphoma, and its multiple myeloma prognosis/prediction test software has been selected as an innovative medical device by the Ministry of Food and Drug Safety, and is undergoing the approval process for commercialization in 2024.
Company: ImpriMed, Inc.
Raised: KRW 30.0B
Round: Series A
Funding Month: November 2023
Lead Investors: SoftBank Ventures
Additional Investors: River Partners, SK Telecom, KDB Silicon Valley, Ignite Innovation Fund, Samyang Chemical Group, Murex Partners, and Byuksa
Company Website: https://www.imprimedicine.com/
Software Category: AI-driven Personalized Medicine for Cancer Care