AI medical startup Ubie gets estimated $2.7M from Osaka power company’s VC arm

Yoshinori Abe (center right), Kouta Kubo (center left) and the team member of Ubie.
Image credit: Ubie

See the original story in Japanese.

Japan’s Ubie, providing AI (Artificial Intelligence)-driven medical services such as AI Monshin Ubie and Dr. Ubie, announced this month that it had raised funds from Kanden Venture Management (KVM) which is a corporate venture capital of The Kansai Electric Power Company headquartered in Osaka. The amount raised and the investment round have not been disclosed but are estimated to be about 300 million yen (about $2.7 million) in its series A round judging from the disclosed information and the previous round, the 60 million yen (about $550,000)-fundraising from D4V in its seed round conducted last September. The Japan version of KISS…Keep-It-Simple-Security method in vogue among overseas startups today… is said to have been utilized.

Ubie was founded in May of 2015 by Dr. Yoshinori Abe, a medical practitioner who formerly worked at The University of Tokyo Hospital,  and engineer Kouta Kubo formerly serving at the Japanese medical information service major M3. So far, Ubie has launched two products: AI Monshin Ubie and Dr. Ubie.

AI Monshin Ubie and Dr. Ubie

AI Monshin Ubie is the AI-driven medical inquiry SaaS (Software as a Service) targeting users at medical institutions, in order to support document creation of clinical records under supervision from specialists. The firm launched the beta version  last year and has been providing the product version to 50 institutions as of last December. Using natural language processing and question-setting algorithm, it automatically creates clinical document templates using AI-driven inquiry according to each patient’s answer type. It will contribute to time reduction in doctors’ desk work and patients’ wait time. From this month, it starts up operation at Hitachi General Hospital, and also planned for joint multi-center research with Miyazaki University commencing this summer.

Dr. Ubie is a disease prediction app for general users. This app was developed based on AI technology to detect future risk for diseases. It leverages Abe’s experience in latest medical treatment technology as well as knowledge of medical care for the elderly; it also adopted the disease name prediction algorithm based on probability / statistical model and machine learning technology.

Ubie was born out of the life science accelerator program Zentech Dojo Nihonbashi 4th batch, managed by the hardcore startup accelerator Indee Japan. With this fundraising, Ubie announced that it will enhance the function of AI Monshin Ubie for business expansion while carrying out overseas market development for Dr. Ubie.

Translated by Taijiro Takeda
Edited by “Tex” Pomeroy