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South Korean healthtech startup Exosystems develops an AI wearable device to help 1.7 billion people suffering from musculoskeletal disorders; raises $3.9M | Tech News

Musculoskeletal situations are the main contributor to incapacity for billions world wide, with low again ache being the only main reason for incapacity in 160 nations. Based on knowledge from the World Well being Group, there are approximately 1.71 billion people who have musculoskeletal conditions worldwide.

Amongst folks with musculoskeletal issues, the group mentioned that low again ache causes the very best burden with a prevalence of 568 million folks. Musculoskeletal situation is extreme in that it considerably limits mobility and dexterity, resulting in early retirement from work, decrease ranges of well-being, and decreased skill to take part in society. Now, one startup is on a mission to leverage synthetic intelligence-based digital care to assist billions of individuals affected by musculoskeletal issues

Enter Exosystems, a South Korea-based healthtech startup that offers an IoT rehabilitation answer to assist folks affected by bodily limits brought on by accidents and ailments. Exosystems’ digital care answer consists of a wearable medical machine and linked consumer app, which permits sufferers present process neurorehabilitation or affected by musculoskeletal issues to observe their well being and obtain acceptable therapy.

At the moment, Exosystems introduced it has raised $3.9M in Collection A funding to broaden scientific & technical capabilities to additional develop the corporate’s know-how and abroad enterprise. The spherical, which brings the overall funding raised by the corporate to $4.5 million, was backed by SBI Funding, Laguna Funding, and Korea Know-how Finance Company.

Based in 2017 by Hooman Lee and Jason Okay, Exosystems’ rehabilitation answer offers optimized train program (contents) to sufferers by way of analyzing consumer rehabilitation exercise knowledge. It additionally offers entertaining rehabilitation workout routines to encourage the sufferers of their fast restoration. Its wearable sensor analyzes digital biomarkers associated to musculoskeletal issues and, by way of digital therapy software program full with behavioral intervention parts, affords suggestions on train packages or electrical stimulation remedy.

The know-how of Exosystems has been verified by way of scientific analysis performed in cooperation with the Seoul Nationwide College Bundang Hospital and different distinguished Korean medical establishments. The machine and its applied sciences have additionally been accredited by the Korean Ministry of Meals and Drug Security and the CE-MDD (Medical Gadgets Directive) in Europe.

Exosystems’ know-how and progress potential had been just lately acknowledged when it was chosen by a government-funded R&D venture price USD 5 million. The corporate’s digital healthcare machine is now lined by public medical insurance of the Korean Ministry of Meals and Drug Security.

“Exosystems is an organization with each AI software program and {hardware} know-how, and it makes merchandise within the digital healthcare discipline that may be commercialized,” mentioned SBI Funding Workforce Lead Lee Joo-hyuk. He added, “Offering steady monitoring and therapy exterior the hospital is a important think about future medical care, and we anticipate Exosystems to result in digital innovation not solely to musculoskeletal healthcare however to all points of individuals’s well being and lives.”

“Exosystems will be capable of safe competitiveness within the abroad markets due to its distinctive know-how that analyzes digital biomarkers and offers behavioral intervention protocol based mostly on scientific proof,” mentioned Exosystems CEO Lee Hoo-man.

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https://techstartups.com/2021/10/29/south-korea-based-healthtech-startup-exosystems-develops-ai-wearable-device-help-1-7-billion-people-suffering-musculoskeletal-disorders-raises-3-9m-series/ | South Korean healthtech startup Exosystems develops an AI wearable machine to assist 1.7 billion folks affected by musculoskeletal issues; raises $3.9M | Tech Information

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