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A Singapore-based startup developing contactless health monitoring technology has raised $1.2 million in a funding round led by Temasek Trust's catalytic vehicle, Catalytic Capital for Climate and Health.
The United Kingdom-based family-owned investment company Richardson Family also joined the round.
WHAT IT DOES
Founded in 2020 in South Korea, injewelme utilises AI and data to develop preventive and personalised healthcare solutions.
This includes its proprietary contactless health monitoring technology – dubbed DeepHealthVision. It uses remote photoplethysmography to analyse more than 20 vital health parameters, such as blood pressure and oxygen saturation, in 30 seconds via a camera.
According to the company, DHV demonstrated 95% detection accuracy in real-world pilots with SingHealth Polyclinics and private partners.
injewelme also develops the predictive AI, DeepHealthNet, which collects and analyses personal health data to predict changes and identify risks, and Gamified Health Management, an app for children and adolescents that gamifies health tracking.
WHAT'S IT FOR
Based on a media release, injewelme will use its fresh funds to develop further its contactless health monitoring technology by testing more parameters, such as blood glucose, stress index, fatigue, and hydration monitoring.
The new funds will also go to efforts to acquire new customers in Singapore and expand into other markets across Southeast Asia.
The company said DHV is now being evaluated for deployment across healthcare, eldercare, insurance, and workforce safety, including its use for monitoring physiological stress linked to rising climate-related heat exposure.
THE LARGER TREND
Similar Asia-Pacific health tech startups developing contactless monitoring solutions have raised significant funding in recent years. Dozee, in March last year, bagged $8 million in a funding round also led by Temasek Trust for its global expansion. Sky Labs from South Korea raked in $15 million in Series C funding in 2023, which went to its efforts to obtain market clearances for its blood pressure ring.
Last year saw at least two health tech startups in Singapore attracting investments. Kyberlife, which runs an online marketplace for sourcing critical healthcare equipment, raised $3 million. Aevice Health, which is known for its AI-powered smart stethoscope, received undisclosed funding from global chemical manufacturer Denka.
