A Singapore-based startup focused on contactless health monitoring technology has successfully raised $1.2 million in a funding round led by Catalytic Capital for Climate and Health, a vehicle of Temasek Trust. The round also saw participation from the Richardson Family, a family-owned investment firm based in the United Kingdom.
Innovative Beginnings
Founded in 2020 in South Korea, injewelme is pioneering the use of artificial intelligence and data analytics to create preventive and personalized healthcare solutions. Central to its offerings is the proprietary contactless health monitoring technology, known as DeepHealthVision. This innovative system utilizes remote photoplethysmography to assess over 20 vital health parameters, including blood pressure and oxygen saturation, all within just 30 seconds using a standard camera.
Proven Accuracy
The company reports that DeepHealthVision has achieved an impressive 95% detection accuracy during real-world pilot tests conducted in partnership with SingHealth Polyclinics and other private entities. This level of accuracy underscores the potential of the technology to transform how health monitoring is conducted.
Advanced Predictive Capabilities
In addition to DeepHealthVision, injewelme has developed another AI-driven tool called DeepHealthNet. This predictive AI system gathers and analyzes personal health data to forecast potential health changes and identify risks. Furthermore, the startup has introduced Gamified Health Management, an engaging app designed for children and adolescents that turns health tracking into an enjoyable experience.
Future Developments
According to a recent media release, injewelme plans to utilize its newly acquired funds to enhance its contactless health monitoring technology further. Future developments will include testing additional health parameters such as blood glucose levels, stress indices, fatigue, and hydration status.
Expanding Market Reach
The new funding will also support efforts to attract new customers in Singapore and facilitate expansion into other Southeast Asian markets. The company is currently evaluating DeepHealthVision for various applications, including healthcare, eldercare, insurance, and workforce safety. Notably, it aims to monitor physiological stress related to increasing climate-related heat exposure.
A Thriving Landscape
In recent years, several health tech startups in the Asia-Pacific region have secured substantial funding for their contactless monitoring solutions. For instance, Dozee raised $8 million in March last year, also backed by Temasek Trust, to support its global expansion. Additionally, South Korea’s Sky Labs secured $15 million in Series C funding in 2023 to obtain necessary market clearances for its innovative blood pressure monitoring ring.
Local Investments
Last year, Singapore saw at least two health tech startups attract significant investments. Kyberlife, an online marketplace for critical healthcare equipment, raised $3 million, while Aevice Health, known for its AI-powered smart stethoscope, received undisclosed funding from global chemical manufacturer Denka.
Conclusion
The successful funding round for injewelme marks a significant step forward in the development of contactless health monitoring technology. With the integration of advanced AI and data analytics, the company is poised to make a lasting impact on personalized healthcare solutions in Singapore and beyond. As the health tech landscape continues to evolve, injewelme stands at the forefront of innovation, addressing critical healthcare needs with precision and foresight.
- Key Takeaways:
- injewelme raised $1.2 million for contactless health monitoring technology.
- DeepHealthVision can analyze over 20 vital health parameters in 30 seconds.
- The startup aims to expand its services across Southeast Asia.
- Funding will support testing new health parameters and acquiring customers.
- The Asia-Pacific region is witnessing a surge in investments in health tech startups.
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