Ubie, a Tokyo-based startup offering an AI-powered symptom checker app and hospital SaaS merchandise, has closed a $19 million extension to its previous Series C round. This brings the well being tech startup’s complete funding to $45.2 million in Series C.
The extension spherical consists of 90% fairness and 10% debt financing, in accordance with the co-founder and CEO of Ubie Kota Kuto. With this spherical, Ubie has raised a complete of $76 million since its inception in 2017.
The startup declined to touch upon its firm valuation, however a supply accustomed to the state of affairs, who wished to stay nameless, advised Thealike its valuation is now estimated at $250 million. Investors within the newest funding embrace Sogo Medical, AAIC Investment, Japan Impact Investment, Rakuten Capital, Shoko Chukin Bank, Japan Finance Corporation and Mizuho Bank.
Ubie plans to make use of the proceeds to scale up its healthcare platform and ramp up its penetration into the U.S. after coming into Singapore in August. The startup launched its symptom checker app earlier this 12 months within the U.S. and opened a U.S. subsidiary in October. Kuto advised Thealike that Singapore’s medical system is much like Japan’s, given its geographical and cultural background, so the corporate determined Singapore could be “an appropriate first step for global expansion.”
The outlet is in discussions with pharma firms to extend partnerships, lots of which have places of work on the East Coast, Kuto defined. It expects to finalize and announce a handful of partnership offers early subsequent 12 months, Kuto added.
Ubie isn’t the one well being tech firm creating an AI-enabled symptom checker for customers. A Boston-based startup, Buoy Health, constructed a symptom test app utilizing AI; berline-based Ada Health additionally developed an AI-driven symptom evaluation app; and IBM’s Mediktor helps folks with symptom evaluation. Kuto identified, as a differentiator, that Ubie provides a B2B product known as Ubie for Hospital, also called AI Monshin, and a B2C app for particular person customers. The Ubie for hospitals, permitting medical doctors to cut back their time for taking notes of sufferers’ histories, is a medical questionnaire software program for sufferers to have a preliminary interview through a pill whereas ready earlier than assembly medical doctors.
“Based on data extracted from about 50,000 medical research papers [created by more than 50 physicisans], AI Monshin [automatically] selects and asks around 20 questions from 3,500 types of question data,” Kota stated.
Co-founded by medical physician Yoshinori Abe and engineer Kubo, Ubie claims that greater than 1,100 medical establishments in Japan use Ubie’s AI Monshin. The firm additionally has greater than 7 million month-to-month lively customers (MAUs) of its symptom checker app. Ubie employs roughly 200 folks.
