AIRS Medical, a company focused on artificial intelligence (AI) and robotics for healthcare applications, announced the completion of its Series C funding round, securing $20 million from seven institutional investors in Korea. This investment, which was led by BSK Investment and Shinyoung Securities, emphasizes confidence not only in the company’s flagship product SwiftMR, but also in its larger goa to transform preventive healthcare through technology innovation.
SwiftMR utilizes deep learning technology to enhance magnetic resonance imaging (MRI) scan speeds by as much as 50% compared to the standard of care. And on average, radiology centers and hospitals that integrate SwiftMR see a 38% increase in patient throughput and a 22% reduction in business hours, leading to $44,000 per month in additional revenue and an $8,000 reduction in monthly operating costs.
SwiftMR is a scan time reduction solution with whole pulse sequence coverage and a super resolution. And this technology sets the standard in diagnostic imaging, helping to address critical roadblocks radiology centers and hospitals face like long patient wait times and the downstream effects of delayed diagnoses. And a frequent problem in healthcare is the delayed diagnosis of patients, often after symptoms have advanced. Along with resource shortages, this results in worse outcomes.
AIRS Medical is showcasing the way to detect diseases proactively, before they manifest. And through AI and robotics, AIRS Medical is democratizing the best diagnostics and prognostics, reducing costs and increasing the accessibility of MRI scans. This enables patients with conditions such as dementia, stroke, and cancer to receive early diagnoses and improve their chances of better health.
SwiftMR was initially launched in Korea in 2021. And by 2023, the technology had successfully entered the United States and Europe, markets that now account for over half of the company’s annual recurring revenue (ARR).
With this latest funding round, AIRS Medical is prepared to accelerate its growth and innovate beyond SwiftMR. And the company plans to expand its presence in international markets, invest in research and development, and ultimately improve patient outcomes worldwide.
KEY QUOTE:
“We’re thrilled to receive this substantial support from our investors. This funding will empower us to increase access to preventive healthcare services and create a healthier future for people around the globe.”
– Hyeseong Lee, CEO of AIRS Medical
