Vuno, a leading medical artificial intelligence (AI) company, announced on Thursday that its board of directors has approved a strategic investment of 10 billion KRW (approximately 6.9 million USD) in the Compah Pathway NXVP New Technology Investment Fund No. 1, spearheaded by Pathway Investment.
The funding will be structured as perpetual convertible bonds, earmarked for Vuno’s global expansion efforts. The conversion price has been set at 20,095 KRW (about 13.94 USD).
Vuno is gearing up for a significant push into international markets, with its flagship AI-powered cardiac arrest prediction device, VUNO Med®-DeepCARS® (DeepCARS), leading the charge. The company recently bolstered its industry standing by hosting a symposium on AI and patient safety on February 7, drawing critical care experts from around the globe.
This investment initiative was spearheaded by Lee Sang-jin, Vuno’s former Chief Financial Officer (CFO) who now heads Pathway Investment.
Lee expressed enthusiasm about contributing to Vuno’s growth trajectory, citing DeepCARS’s potential breakthrough in the U.S. market and Hartib’s promising revenue prospects as key factors in the investment decision.
A Vuno spokesperson stated that this investment fortifies the financial foundation, enabling them to pursue a more aggressive international expansion strategy and strengthen their position in the global medical AI landscape.
Lee, who previously served as an investment analyst at Korea Investment Partners and Dominus Investment, was instrumental in guiding Vuno through its successful initial public offering (IPO) as CFO. Pathway Investment is a venture capital firm that he subsequently established.