#Japan #Fukuoka #Medmain #PidPort #One Capital

Medmain's Recent Fundraising Milestone

Medmain, a pioneering company in the development of digital pathology support through AI, has recently announced the successful completion of a funding round, securing ¥470 million (approximately $4.7 million). This increase in funds elevates the company’s total capital raised to ¥2.5 billion (about $25 million), showcasing their growing influence in the medical technology sector.

Overview of Medmain

Founded in 2018 and headquartered in Fukuoka, Japan, Medmain has made it its mission to create a world where medical care is accessible anytime and anywhere through advanced technology. Their flagship product, PidPort, is a cloud-based system that integrates AI to assist healthcare professionals in pathology diagnostics. The company not only digitizes pathology samples but also facilitates remote diagnosis support across different medical facilities, making the process efficient and rapid.

Medmain’s core technology lies in its innovative AI development in pathology. They have developed unique foundational technologies that leverage transfer learning, skipping production hurdles and accelerating AI development. Their pathology AI is capable of detecting cancers across various organs, marking a significant advancement in diagnostic capabilities.

Purpose and Implications of the Fundraising

The newly acquired funding will be directed towards reinforcing the development of Medmain's pathology AI and PidPort system. Specific areas of investment will include enhancing infrastructure, bolstering sales mechanisms, obtaining regulatory approvals for the AI systems, and establishing groundwork for international operations.

As the incidence of cancer diagnoses continues to rise globally, the demand for pathology inspections has significantly increased too. Amid this growing requirement, medical institutions are facing chronic shortages of manpower, which has heightened the workload for healthcare professionals. Traditionally, pathology diagnosis has relied heavily on physical samples, but Medmain has been at the forefront of addressing this with their digital services and AI-equipped cloud systems, leading to improved access and efficiency.

PidPort is currently employed in various contexts such as remote diagnostic support among medical institutions, conferences involving multiple facilities, academic presentations, and educational workshops. This versatile use has established Medmain's footprint across a diverse range of healthcare environments.

Looking ahead, Medmain plans to enhance their services by developing additional features and integrating with peripheral systems, thereby increasing the overall convenience for users. They are also working on expanding their services to more medical settings while enhancing value delivery and preparing for global market entry.

Investors and Expert Opinions

In this recent funding round, One Capital, an experienced venture capital firm with a strong track record of investing in SaaS and healthcare startups, led the investment. They were joined by Niremia Collective, which focuses on well-being technology, and Plug and Play, a global top-tier venture capital and accelerator based in Silicon Valley.

Comments from Investors
Yukako Yokota, Partner at One Capital, stated, “Medmain provides a pioneering solution by integrating digital pathology with AI in the complex field of pathology diagnostics. Their impressive AI diagnostic technology, combined with a deep understanding of pathology, positions them to vastly improve healthcare outcomes.”
Naoko Okamoto, the Founder and Managing Partner of Niremia Collective, highlighted, “We resonate strongly with Medmain’s vision of solving challenges in pathology diagnostics. Their technology significantly enhances both medical access and diagnostic accuracy.”
Alireza Masrour, General Partner at Plug and Play, expressed excitement about investing in Medmain, citing Japan’s promising market potential for emerging unicorns.

CEO’s Vision and Call for Talent

CEO of Medmain, Kanji Iizuka, expressed gratitude towards the supportive investors and emphasized the importance of technological advancement in addressing healthcare challenges. He underlined that its product, PidPort, is already making strides in enhancing medical quality and operational efficiency across healthcare settings.

Iizuka stated that one of the primary aims of this funding round is to strengthen their team to support rapid growth and innovation. As Medmain embarks on this exciting trajectory, they invite talented professionals to join them, emphasizing that creating the future of healthcare together is an incredible opportunity.

For more details on career opportunities at Medmain, please visit Medmain Careers.

Company Overview

• - Company Name: Medmain Inc.
• - Founded: January 11, 2018
• - Services: Development and operation of medical software and cloud services
• - CEO: Kanji Iizuka
• - Headquarters: Fukuoka, Japan, also has offices in Tokyo and Silicon Valley.
• - Corporate Site: Medmain
• - Product Site: PidPort
• - Recruitment Site: Careers