Ubia Tokyo-based startup offering an AI-based symptom checker app and hospital SaaS product, has closed a $19 million round Its previous C round of financing. This brings the health tech startup’s total funding in the Series C round to $45.2 million.
According to co-founder and CEO of Ubie Kota Kuto, the extension round consisted of 90% equity and 10% debt financing. With this round, Ubie has raised a total of $76 million since its founding in 2017.
The startup declined to comment on its company valuation, but a person familiar with the matter told TechCrunch on condition of anonymity that its valuation is currently estimated at $250 million. Investors in the latest financing include Sogo Medical, AAIC Investment, Japan Impact Investment, Rakuten Capital, Shoko Chukin Bank, Japan Finance Corporation and Mizuho Bank.
Ubie plans to use the proceeds to expand its healthcare platform and increase its penetration in the United States after entering Singapore in August.start start its symptom checker app in the US earlier this year and opened a US subsidiary in October. Kuto told TechCrunch that the company believes Singapore would be an “appropriate first step for global expansion,” given its geographic and cultural context, where its healthcare system is similar to Japan’s.
Kuto explained that the store is in discussions with pharmaceutical companies to add partnerships, many of which have offices on the East Coast. Kuto added that it expects to finalize and announce some partnership deals early next year.
Ubie isn’t the only health tech company developing an AI-powered symptom checker for users. A startup based in Boston, buoy healthbuilt Symptom Checker App Using AI; based in Berlin Ada Health also developed AI-powered symptom assessment app; and IBM’s Mediktor Help people with their symptom assessment. Kuto noted that, as a differentiator, Ubie offers a B2B product called Ubie for Hospital, also known as AI Monshin, and a B2C application for individual users. Ubie for Hospitals is a medical questionnaire software that allows doctors to conduct initial interviews via tablets while waiting for a doctor, reducing the time doctors spend taking patient histories.
“Based on data extracted from approximately 50,000 medical research papers [created by more than 50 physicisans]Ai Mengxin [automatically] From the 3,500 question data, about 20 questions were selected and asked,” Kota said.
Ubie, co-founded by MD Yoshinori Abe and engineer Kubo, claims that more than 1,100 medical institutions in Japan use Ubie’s AI Monshin. The company also has a symptom checker app with over 7 million monthly active users (MAU). Ubie has approximately 200 employees.
