Japan’s preventive healthcare startup Symax secures funding from Draper Nexus, others

Japan’s preventive healthcare startup Symax secures funding from Draper Nexus, others

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See the original story in Japanese.

There was a healthcare startup-focused showcasing event called Health2.0 Asia in Tokyo in November, where we saw various services born out of Japan in the healthcare sector drawing much attention globally. A Japanese startup called Symax won the startup pitch competition in the event.

This company announced today that it has secured funding from Draper Nexus Venture Partners, iSG Investment Works and several angel investors in a series A round. Financial details of the investment were not disclosed.

Since its launch back in June of 2014, Symax has been developing a sensor device that can be attached to Western-style toilets, telling users their health condition by analyzing their urine on a daily basis for a monthly charge of about $10. Based on a unique analysis algorithm, their technology detects lifestyle diseases such as gout and diabetes with 99% accuracy. Users can check out their analyzed result using the Symax mobile app.

Regardless of whether users have no subjective symptoms, Symax claimed that this solution can discover 86% out of all different types of lifestyle diseases. They say that user companies or other facilities installing many units in their venue can reduce an initial investment to about one-tenth that for conventional similar solutions which usually costs more than hundreds of thousand US dollars. Leveraging acquired data, they are considering the launch of data marketing business targeting health insurance societies and companies.

We look forward to the launch of the Simax solution which aims to watch over people’s health condition without forcing them to add a new habit to their daily lives.

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Symax founder and CEO Maria Tsuruoka delivered a pitch at the Myojo Waraku event in November.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy