Following a trend from the previous year, South Korean medical device ventures with sustainable revenue potential have once again garnered significant investments from major venture capitals (VCs). Industry insiders anticipate a continued upward trajectory in investment activity within this sector.

According to industry sources on May 14th, companies such as MedInTech, Baz Biomedic, and Ready Cure have successfully secured investments from institutional investors this month. Startup MedInTech, specializing in medical smart endoscopes, announced on May 13th that it had secured a Series B investment totaling $14.8 million. Notable participants in this investment round included existing investors Atinum Investment, FuturePlay, Smilegate Investment, and Nextrans, alongside new investors IBK Corporate Bank, SL Investment, Hana Ventures, Woori Venture Investment, and Samchunli Investment. MedInTech, founded in 2020 by CEO Chi-Won Lee and COO Myung-Jun Kim, emerged from the Korea Electrotechnology Research Institute, where the founders conducted research on endoscope-related technology.

MedInTech plans to intensify its market presence within the year, leveraging its electric gastrointestinal endoscopy system, which has received Class 2 medical device approval, and its abnormal area detection software. Additionally, the company aims to expedite market entry through clinical trials conducted in collaboration with Seoul National University Hospital.

Baz Biomedic, the developer of the solenoid-based needle-free drug delivery device 'CureJet,' secured a Series B investment of $7.4 million from BNH Investment and Muirwoods Ventures this month. Founded in 2017, Baz Biomedic initially received a $592,000 seed investment through its selection for the Youth Tech Valley of the Technology Guarantee Fund, accumulating a total of approximately $16.3 million in investments to date.

The company completed a contract with Shinhan Investment Corp. as the lead underwriter in September 2023 and has since expanded its market reach globally with its needle-free drug delivery device. Baz Biomedic has established distribution networks in 25 countries, including Asia, Europe, and South America. Earlier this year, it entered the Japanese market by establishing a subsidiary in Japan. Baz Biomedic's MicroJet technology allows for precise control of ultra-small, high-speed injections, enabling rapid administration of minute amounts of solution at a rate of 500 meters per second, thereby mitigating needle-related anxieties and facilitating drug administration.

Startup ReadyCure, dedicated to developing a digital X-ray therapy system tailored for dementia treatment, secured Pre-A Series investment from FuturePlay this month. Founded in October 2021, ReadyCure originated as a research lab startup led by Professor Won-Kyu Jung, a radiologist specializing in oncology at Kangdong Kyung Hee University Hospital, in collaboration with neuroscience researchers and medical device experts.

Currently, ReadyCure is developing 'HeLaXON,' a dementia treatment system designed to restore immune system function within the brain using digital X-rays. The company emphasizes the divergence of its approach from the strategies pursued by global pharmaceutical giants, who heavily invest in antibody therapies for dementia treatment.

Industry insiders emphasize the significance of medical device ventures that address global healthcare challenges. One evaluator of medical device investments noted, "(Following last year's trends), there remains substantial interest in investing in medical device ventures this year. This investment momentum is anticipated to persist," further highlighting investors' focus on ventures integrating digital technology, including robotic medical devices. Moreover, to achieve substantial progress in the global market, medical device ventures must establish and expand networks with key opinion leaders (KOLs).