South Korean MedTech Firm Medi Futures Secures $5M Funding to Advance Aesthetic Ultrasound Technologies

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Medi Futures, a medical technology company headquartered in Seoul, South Korea, announced on December 30 local time that it had raised approximately $5 million in a new round of financing. The round was led by Samho Green Investment and ST Capital, with participation from strategic investors based in the United States and China. This marks the company’s first fundraising since its inception.

Medi Futures is a biomedical ultrasound company founded in 2016 that develops aesthetic and plastic surgery devices based on ultrasound and piezoelectric technologies. The company’s product portfolio includes devices for acne scar removal, fat reduction, stem cell separation, and square jaw reduction. Recently, Medi Futures has developed and exported medical sutures featuring high-precision anchoring points (barbed sutures).

(Image source: Medi Futures official website)

Medi Futures became a member company of the Born2Global Center in 2018. Last August, the company was selected as one of three partner companies at the “2018 Medtronic Asia Innovation Conference,” co-hosted by KOTRA and Medtronic, and participated in a training program held at Medtronic’s Asia-Pacific headquarters.

Regarding this financing round, Jo Soo-Bong, CEO of Samho Green Investment, stated: “Medi Futures’ medical device sales have currently reached nearly $30 billion and continue to grow at an annual rate of 12%. These devices are part of the globally expanding field of minimally invasive medicine, offering the advantages of minimizing tissue damage and facilitating faster patient recovery. Given that 80% of the company’s sales come from overseas markets, its revenue is projected to continue growing.”

It is reported that Medi Futures has developed ultrasonic endoscopic disc surgical instruments and an enzyme-free ultrasonic stem cell separator based on its ultrasound technology platform, and is working to gradually commercialize these products.

Kim Ji-Min, CEO of Medi Futures, stated in a press release: “This investment is being made entirely through common stock as part of a strategic partnership, rather than as a simple financial investment. The transaction is expected to receive approval from the FDA and CFDA shortly. Looking ahead, we will continue to strengthen our global development strategy to become a leading company worldwide.”

“Medi Futures demonstrates significant growth potential based on its patented medical technologies. The company is expected to expand its global operations and attract further investment,” said Kim Jong-kap, CEO of the Born2Global Center, in a press release.

SGI (Samho Green Investment), established in 2007, is the first and only venture capital firm in South Korea dedicated to the field of green growth, encompassing renewable energy, green technology, and agricultural technology. The company engages in venture capital, private equity investment, as well as mergers and acquisitions, while providing business and engineering consulting services to its portfolio companies and clients. SGI’s key investment areas include the commercialization of green technologies, green infrastructure, agricultural technology, and early-stage project development. To date, SGI has invested in three companies, with its most recent investment being in Medi Futures on December 30, 2018.

ST Capital is composed of seasoned professionals who excel in corporate management and supporting leadership teams, thereby facilitating the effective execution of its investment strategy. Adhering to the philosophy of “smart capital,” ST Capital seeks to partner with management teams to achieve exponential growth. The firm focuses on investing in small and medium-sized enterprises (SMEs) in Mexico, collaborating with existing owners to drive business transformation through growth-oriented equity and debt investments.