Korean Medtech MediBloc Secures $3.5M in Series A Round
Korean medtech logistics blockchain startup MediBloc has secured $3.5 million in a Series A investing round; investment firms like Company K Partners, IMM Investment, and Naver D2SF were a part of the round. The funding will possibly open new avenues for close cooperation between MediBloc and Naver, the top IT business organization of Korea. It is anticipated that the close cooperation shall enhance the competitive level of the MediBloc platform and will make a significant financial contribution to the international investment market for immense economic growth.
MediBloc’s goal is to commence working on the long-term objectives of the platform by the efficient utilization of the investment funds. One of the primary goals of MediBloc is to establish a holistic healthcare platform that will revolve around providing services to individuals at the core. A few more leading organizations that participated in the investment rounds include RIDI Books, Coupang and Woowa Brothers, Musinsa, Watcha, and Krafton.
Pleased with the acknowledgment by both international and local investors, MediBloc’s co-founder Dr. Allen Wookyun Kho says that they’ll continue to revolutionize the healthcare field with medical data. Currently, the medtech company has three products: Medipass, Dr. palette, and Panacea.
Using MediBloc, patients from all across the world shall be able to access their health data through its mobile application Medipass. Medipass allows the linkage of medical data of the patients to major hospitals like Samsung Seoul Hospital, Seoul National University Hospital, and more to help the patients get access to insurance offers. In recent times, MediBloc has also received a substantial investment from the Bill And Melinda Gates Foundation as well for the expansion of the platform.
By combining patients’ records on a secure decentralized ledger, MediBloc aims to create a medical record database powered by blockchain.