Hong Kong-based well being tech startup PanopticAI has raised undisclosed seed funding from a spherical co-led by Alibaba Hong Kong Entrepreneurs Fund and Gobi Companions. The spherical was additionally participated by HKUST Entrepreneurship Fund and different traders.

WHAT IT DOES

Based by researchers from The Hong Kong College of Science and Know-how, Panoptic AI develops digital well being options that present holistic well being evaluation.

Its flagship product, Vitals, is a low-cost and hardware-agnostic contactless vitals measurement utility. It captures through digicam the delicate modifications within the color of a person’s pores and skin, which is then processed by means of AI and sign processing to provide you with complete and correct important indicators studying inside 30 seconds. Vitals has been utilized in numerous industries, together with telemedicine, company wellness, building, insurance coverage, health, and psychological well being.

WHAT IT’S FOR

Primarily based on a press assertion, PanopticAI will use its seed funding to speed up its acquisition of regulatory approvals and additional cement its presence throughout China’s Higher Bay Space and different rising markets. At present, it has tie-ups with Gleneagles Hospital Hong Kong for distant well being monitoring and native magnificence retailer Mannings for good well being session companies.

It’s also trying to discover partnerships with international insurance coverage corporations to supply new options for straight-through processing, dynamic underwriting, and enhancing buyer expertise.

MARKET SNAPSHOT

Final 12 months in April, HealthBeats, a well being tech startup from Singapore, bagged $3 million in seed funding to convey its distant well being monitoring answer to worldwide markets.

One other well being monitoring-focused startup, Sky Labs from South Korea, has just lately raised $20 million in a Sequence B funding spherical to spice up its commercialisation in the USA and the UK and increase its medical analysis.