-Global healthcare startup Sky Labs attracts investments totaling KRW 20.7 billion in Series C round
– Los principales inversores incluyen Korea Development Bank (KDB), K2 Investment Partners, DEVSISTERS VENTURES, SJG Partners y OPENWATER INVESTMENT.
– Distribution of ‘CART BP’, a ring-type cuffless blood pressure monitor that enables 24/7 continuous blood pressure measurement and monitoring, will be fully launched in hospitals and clinics throughout Korea through a joint venture agreement. distribution signed with Daewoong Pharmaceutical for the Korean market.
SEOUL, South Korea, Oct. 17, 2023 /PRNewswire/ — Global healthcare startup Sky Labs (CEO Jack, Lee) attracted investments worth KRW 20.7 billion in a Series C round. The company’s cumulative investment attraction is around KRW 54.8 billion.
The recent investment was led by Korea Development Bank (KDB), a Korean government-run bank, and involved K2 Investment Partners, DEVSISTERS VENTURES, SJG Partners, OPENWATER INVESTMENT and others. Amid a drop in investment sentiment and recently low investments in the biohealth sector, Sky Labs attracted more than 20 billion KRW in investments, demonstrating market anticipation.
‘CART BP’ is a ring-type cuffless continuous blood pressure monitor, which differs from the traditional cuff blood pressure monitor and allows 24/7 continuous blood pressure measurement and monitoring. Appropriate treatment strategies and medication dosage adjustments can be made based on various blood pressure data over time, including nighttime blood pressure, morning blood pressure, and blood pressure variability. CART BP also tracks how lifestyle habits, such as sleep and stress management, exercise, alcohol consumption, and reactions to taking blood pressure pills, can affect blood pressure levels. By doing so, it helps hypertensive patients control their blood pressure levels and contributes to the prevention of cardiovascular diseases. A research paper on CART BP’s blood pressure measurement algorithm technology was published in ‘Nature Scientific Reports’, a world-renowned scientific journal, reflecting the recognition of our technological prowess.
In addition to receiving approval from the Ministry of Food and Drug Safety for CART BP, Sky Labs signed a distribution agreement for the Korean market with Daewoong Pharmaceutical in June. Distribution of CART BP to hospitals and clinics in Korea will begin in October. Online sales to the general consumer will follow shortly after. Sky Labs aims to sell around 70 billion KRW of CART BP over the next three years in Korea alone. It plans to expand CART BP’s global market entry in line with US Food and Drug Administration approval and CE mark in Europe next year.
Director Lee Seung-woo of DEVSISTERS VENTURES, which is a new investor in the recent investment, stated: “Sky Labs has successfully developed a wearable device for 24/7 continuous blood pressure monitoring, a capability that was previously existing blood pressure monitors were lacking. They have also made significant progress in developing AI algorithms, clinical validation and obtaining approvals. This will make it easier for doctors to access the information needed to treat patients with hypertension. I hope “This could become an excellent example of AI in healthcare, setting a new standard similar to CGM (continuous glucose monitoring).”
Sky Labs CEO Jack Lee said: “CART BP created a new field, which is a cuffless blood pressure monitor that takes long-term continuous measurements 24/7. Based on the recent investment, we will conduct clinical research that meet the levels required by hypertension societies in Korea and abroad and we will continuously secure relevant terrains, in addition to strengthening our world-leading technological advantage and accelerating the acquisition of overseas approval and overseas marketing and distribution “.
Website: https://skylabs.io/
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