Healthcare wearable Ybrain raises US$3.5M in Series A funding
The Korea-based startup, founded in Feb 2013 by a Caltech neuroscientist and Samsung engineers, has raised a total of US$4.2 millionBy beSUCCESS 28 Aug, 2014
Healthcare wearables startup Ybrain announced today it closed on US$3.5 million in Series A funding in a round led by Stonebridge Capital bringing company’s total raise to US$4.2 million. The Korea-based startup, founded in Feb 2013 by a Caltech neuroscientist and Samsung engineers, offers healthcare wearables for Alzheimer’s disease patients.
Ybrain is a brain signal-based wearable device startup building mobile health and wellness solution platform for the healthy and impaired. Ybrain has built wearable devices for Alzheimer’s and Mild Cognitive Impairment patients and currently carrying out clinical trials with Samsung Medical Centre in Korea. Ybrain is currently building mobile Big Data platform with brain signals detected from Ybrain’s own devices for more targeted and personalised treatments and services.
Currently, Ybrain claims to be the only healthcare wearables startup in Asia currently executing clinical trials for neurological disorders, and it’s not just in terms of service that the company is showing its pioneer spirit.
This momentous news also demonstrates that the Korean startup ecosystem is changing beyond mobile, with Ybrain becoming Korea’s first startup that has raised more than US$3 million series A with a startup less than 18 months old.
While many experts predict that new oral Alzheimer’s disease medication will not be available next 10 years, Ybrain’s wearable device can be beneficial to patients with early stages of Alzheimer’s and also existing patients who are currently taking medications with Ybrain’s device. “Most Alzheimer’s disease experts are forecasting that new Alzheimer’s oral medications may not come out until 2025. Ybrain’s global first Alzheimer patient ready wearables will be a great solution” says Fortune Sohn from Stonebridge Capital who was a lead investor in this round.
With the help of this new funding round, Ybrain plans to grow its team and focus on building products. “Ybrain builds healthcare wearables that treat Alzheimer’s disease. The devices are promising new solutions for Alzhiemer’s patients who rely on oral medication to slow the progression of the disease. We look forward to working closely with our partners to bring this solution to patients and their families.” said Kyongsik Yun, Founder and CEO of Ybrain.
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