Roundup: AWAK bags $20M in Series B funding and more briefs

AWAK bags $20M in Series B funding

Despite a challenging market condition, Singapore-based medtech AWAK Technologies has raised more than $20 million in a Series B funding round – one of the biggest funding raises in Southeast Asia this year. The round was co-led by Lion X Ventures and Vickers Venture Partners. 

AWAK is developing a portable peritoneal dialysis device that allows users to undergo dialysis anywhere, foregoing long hours of stationary therapy and being connected to large-sized machines in hospitals and clinics. 

Based on a press release, the proceeds from the funding round will go to completing AWAK’s ongoing human clinical trial with Singapore General Hospital, which is being conducted ahead of its final pivotal trial in the United States in 2025. 

The fund will also be used for developing complementary products that promote home dialysis and integrate digital solutions for improving home-based care of chronic kidney disease patients.

Online pharmacy MedEasy nets $750k seed funding

MedEasy, an online pharmacy in Bangladesh, has scored $750,000 in a seed funding round participated by Seedstars International Ventures, Doha Tech Angels, Startup Bangladesh Limited, Accelerating Asia, and nVentures, among other investors.

The funds will be used to refine its operation, enhance its platform features, reach more users, and advance R&D, a press statement said.

Since it launched two years ago, the startup has now over 150,000 users. Aside from growing its customer base, MedEasy also plans to launch a subscription-based feature, a digital health monitoring system, and an appointment-booking marketplace. 

Switzerland OKs DeepBio’s AI prostate cancer diagnosis support software 

Medical AI startup DeepBio from South Korea has obtained regulatory approval from Switzerland for its AI-powered diagnostic support software for prostate cancer.

The Swiss Agency for Therapeutic Products has cleared DeepDx Prostate for commercialisation in Switzerland, according to a press release.

The AI product, which has also been approved in Europe, analyses whole slide images of prostate needle biopsy tissues using AI to detect and localise areas of interest and classify them by severity. 

Samsung SDS-spinoff Wellysis’s ECG patch gets US FDA approval

Wellysis, a Samsung SDS spinoff company based in Seoul, has received the approval of the United States Food and Drug Administration for its wearable ECG patch. 

The S-Patch Ex features a bio-processor for capturing accurate ECG waveforms. The lightweight device can be integrated with mobile phones, tablets, and watches, and is also compatible with any commercially available electrodes and batteries. 

The US FDA approval comes two years after the device has been granted a CE mark in Europe. S-Patch Ex is currently being sold in 14 countries worldwide, including the United Kingdom, Australia, Thailand and India.