Intervalue, BNK lead investments in AI startup
PMX Inc., a South Korean startup focusing on AI-based diagnostic solutions, announced on Dec. 27 that it had successfully attracted a Series-A investment.
Since its foundation in early 2020, it has raised a total investment of 5 billion won ($4.2 million).
Intervalue Partners, BNK Venture Investment, and Korea Alternative Investment have led Series A for the Seoul-based firm that tries to tackle such diseases as Alzheimer’s and Parkinson’s.
In particular, the outfit has worked on AI-based solutions for early diagnose of the above-mentioned degenerative diseases using CT and MRI scan images, including biomarkers.
On the back of such technology, the outfit has developed Chest CT as well as brain and whole-Body MRI solutions.
Currently, PMX operates offices in Seoul and Chicago, targeting the markets of South Korea and the United States.
The Seoul office is its headquarters, while the Chicago branch is responsible for research, approval of the Food and Drug Administration, and distribution across the U.S.
In late 2020, the Gyeonggi Province of Korea recognized its technological edge by selecting PMX for its diagnostic AI solution project. Midway through this year, the Tech Incubator Program for Startup Korea also chose the firm.
“It is an early-stage company, but unlike its competitors, PMX is unique as it will be developing medical AI solutions for the global market as per FDA standards,” Intervalue official Min Kyung-wan said,
“PMX qualifies to be a global company considering it inhibits experience in US certification and additionally is led by successful collaborative history between CTO Girish Srinivasan and CEO Hansuk Kim.”
PMX CEO Hansuk Kim welcomed the investment.
“With the funds secured through this investment, we plan to improve the performance of A technologies under development and complete US licensing,” he said.