ECG watch startup banks US$6.9m in series A

Healthcare startup Huinno raised US$6.9 million in a series A round from Aju IB Investment, Smailgate Investment, Neo Plux Investment, Synergy IB Investment, Dayli Partners and Shinhan Capital. Total funding to date is US$8.9 million.

With the fresh funding, the company will start a large scale clinical trial of arrhythmia patients.

Huinno’s proprietary technology offers a convenient way to test for arrhythmia, offering diagnoses from just a watch and an AI-based data analysis algorithm. In contrast, existing holter monitors require patients to wear them for 24 hours, visit a doctor over 5 times, while taking doctors over 2 hours to analyze the data.

The company’s wearable ECG was the first watch-shaped ECG approved as a medical device by Korea’s Ministry of Food and Drug Safety.

Huinno is planning to launch an AI-based ECG analysis software that is expected to reduce as much as US$1.7 billion in annual medical expenses by enabling early diagnosis of arrhythmia.

The company is currently working with government agencies for necessary paperwork to launch its product.

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