AIRS Medical is specialised in deep learning MR image reconstruction technology, and has developed and commercialised SwiftMR technology, an AI-powered MRI reconstruction software that enhances MR images

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AIRS developed and commercialised SwiftMR. (Credit: PRNewswire/ Born2Global Centre)

South Korea-based healthcare start-up AIRS Medical has secured around $20m in a Series B funding round that included existing investor Klim Ventures.

The financing round also saw new investors Q Capital Partners and Hanwha Life.

Established in October 2018, AIRS Medical leverages digitalised, AI-based diagnostics and robotics technologies to enhance clinical experience for patients and healthcare providers.

The company is specialised in deep learning MR image reconstruction technology, and has developed and commercialised its SwiftMR technology.

SwiftMR is an AI-powered MRI reconstruction software that enhances MR images acquired under different conditions, and offers improved accuracy and patient experience.

Last year, the Korea Ministry of Food and Drug Safety (MFDS) and the US Food and Drug Administration (FDA) have approved the company’s software.

SwiftMR was officially launched in Korea in the fourth quarter last year, and has been used for around 30,000 MRI exams per month, and a total of more than 130,000 MRI exams.

The software has been supported by Born2Global, a global start-up hub for ICT business, and the KOSME-MATTER US Market Adoption Program, and its business model has been implemented in the South-Korea’s domestic market.

AIRS Medical intends to expand its SwiftMR solution to other parts of the world, including the US, Europe, Southeast Asia, and South America.

AIRS Medical CEO Hye-seong Lee said: “We believe we can transform the healthcare ecosystem by solving the current dependency on analog machines by replacing them with data-driven medicine.

“Through the Series B funding we’ve secured, we will be taking our innovative diagnostic solutions to the global market.”

Earlier this year, AIRS Medical has acquired artiQ, an AI- and robotics-based startup that shared AIRS Medical’s vision of a world without any sickness.

Through the acquisition, the company has enhanced its technology portfolio with new in-vitro diagnostics, including venipuncture automation.

Furthermore, AIRS Medical aims to roll out successive diagnostic test solutions that improve the cost structure of the medical industry, using its technology and clinical expertise.

Source: Company Press Release