January 4, 2023

Share

PranaQ Secures $3M in Seed Funding


This post first appeared on the PranaQ website.

PranaQ, a healthcare technology startup, successfully completed $3M in Seed round funding raising. The round was participated by multiple global venture capital firms, including DSC Investment, Smilegate Investment, NAVER D2SF, and Lighthouse Combined Investment.

In particular, NAVER D2SF, CVC of NAVER, Korea’s largest internet company and global tech platform, joined the round as a strategic investor for a potential partnership on the back of their recent focus on healthcare as one of the new business drivers.

The company intends to use the funds to acquire a FDA certification on the first product, and to launch preliminary marketing initiatives.

Sooseob Won at DSC Investment, the lead investor of the round said “PranaQ has developed innovative AI-powered algorithms and compact sleep testing device near commercialization, which can replace conventional complicated sleep studies. We decided to invest in PranaQ as we expect that its offerings will give many people an easier and greater access to better sleep and further provide unique values to hospitals, insurance companies, and other related parties.”

Led by CEO Jerry Chen, PranaQ is a digital healthcare company, developing wearable medical devices with AI-based biosignal processing algorithms, including technology developed at Duke University (by Dr. Hau-Tieng Wu). The company’s first endeavor is around detecting and monitoring sleep disorders including sleep apnea, to help people have a better knowledge and control of their sleep and overall health condition.