Mediwhale Secures $12 Million Series A2 Funding for AI-Powered Retina Scan Technology

Mediwhale, an AI-driven diagnostics company, has successfully raised $12 million in Series A2 funding to further develop its retina scanning technology aimed at diagnosing cardiovascular and metabolic diseases. This round was led by the Korea Development Bank, with contributions from Woori Venture Partners, IMM Investment, and Mirae Asset Securities, among others.

Mediwhale's Expansion Plans and Funding Goals

The company's flagship AI product, Reti-CVD, offers a radiation-free retina scan that predicts cardiovascular disease risk as accurately as the coronary artery calcium score from a cardiac CT scan. Since its approval for private reimbursement in Korea in June 2023, Reti-CVD has been used in over 7,200 cases across 57 medical institutions.

Mediwhale plans to use the funding to enhance Reti-CVD, seek FDA approval by 2025, and launch it in the U.S. Additionally, the company is developing AI diagnostics for chronic kidney disease, glaucoma, cataracts, and retinal diseases.

Kevin Choi, CEO of Mediwhale, commented, “With our pioneering technology, developed and commercialized as a world first, we aim to lead the global market in cardiovascular and metabolic disease management.”

This latest funding follows $2 million in Pre-A funding in 2021 and $9 million in Series A funding in 2023.